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Greek Tourism Investments Worth Millions Get Green Light

Six projects, concerning the tourism and renewable energy sectors, totaling 1.05 billion euros, were approved by the Inter-ministerial Committee for Strategic Investments, during its first meeting at the Ministry of Development on Monday. Two of the projects were approved recently by Enterprise Greece

The meeting was attended by the Greek ministers for development, Adonis Georgiadis; finance, Christos Staikouras; tourism, Harry Theocharis; energy and the environment, Kostas Hatzidakis; and the Deputy Foreign Minister Kostas Fragogiannis.

In regards to tourism, the approved investment projects include:

  • The development of a tourism, cultural, conference, medical, commercial and business center in Eleonas by the Noval Property Real Estate Investment Company (Viohalko group), under a total budget of 117 million euros.
  • The Costa Noria resort by Cretan Sun and Sea Developments SA, a member of the Leptos Group of Companies, under a total budget of 303 million euros. The Costa Noria project includes the construction of two hotel units, holiday homes, a tourist boat shelter, sports facilities and golf course, in the wider area of Kissamos in ​​Chania.
  • The Cape Tholos resort by Metaxa Hospitality Group, under a total budget of 150 million euros. The project includes the creation of a tourist village, a complex tourist accommodation resort and two hotel units, in Tholos, Kavousi in Lasithi, Crete.
Tholos beach in Lasithi, Crete.

“Tourism investments are investments that have great added value, but mainly create jobs,” the tourism minister said.

According to the minister, the approved projects will create close to 2,000 jobs in the tourism sector.

The other three strategic investment projects that were approved concern the renewable energy sector: the electricity generation through the development of 177MW photovoltaic and wind power plants (172 million euros) in Serres and Viotia; the construction and operation of 284 MW photovoltaic power plants in 12 areas of Thessaly and Central Greece (214 million euros); and an investment plan for the development of a shopping center in Metamorfosi, Attica (93.5 million euros).

In addition, Greece’s development minister Georgiadis announced that 119 investment projects, under a total budget of 900 million euros, were included in the development law. “The Ministry of Development and Investment has approved investments totaling nearly 2 billion euros,” he said.

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