Τ.Ν. Aegean Sun Investments, a company of Cypriot interests of the Nicolaides Group, has successfully completed the sales agreement of a property on the southern part of Afandou on the Greek island of Rhodes.
According to an announcement, the signed agreement with Greece’s privatization fund TAIPED involves the creation of three new high quality holiday resorts and a tourist village of 20 independent residences under a budget of 150 million euros.
Once created, the three resorts and tourist village will be run by Atlantica Hotels & Resorts of the Nicolaides family.
“The know-how and expertise of the group has been proven in the past, and continues to outline the principles which reflect the company’s history, service and values,” Atlantica said in an announcement.
“These values have distinguished the group for over three decades and have established Atlantica as a successful company within the hospitality and tourism sector.”
Atlantica Hotels & Resorts is the only Cypriot hospitality company to be a member of leading travel company TUI Group. It operates a total of 50 hotels across Cyprus, Greece and Egypt. Thirty-three hotels are locate in Greece on destinations including Rhodes, Kos, Crete, Corfu and Zakynthos.
Since November 2001, Atlantica is the joint venture partner of TUI.
It should be mentioned that the announcement of Τ.Ν. Aegean Sun Investments, concerning the property sale on the southern part of Afandou, follows the signing of the north Afandou sales agreement between Greece’s privatization fund TAIPED and M.A. Angeliades Inc. for the creation of a tourism project that will include a golf course.