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Luxury Tourism Projects on Greece’s Strategic Investments List

The Greek island of Ios, Cyclades.

Nine tourism projects are on Greece’s strategic investments list

Greece’s government spokesman, Stelios Petsas, recently presented a list of new investments that have been approved by the interministerial committee for strategic investments.

The list names 14 new investments worth some 1.8 billion euros.

Among the new investments are the following nine tourism projects, which include a number of five-star hotels and resorts:

– A tourism, cultural, conference, medical, commercial and business center in Eleonas by the Noval Property Real Estate Investment Company of the Viohalko Group (budget 117 million euros).

– The Costa Noria resort by Cretan Sun and Sea Developments SA, a member of the Leptos Group of Companies. 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 (budget 303 million euros).

– The Cape Tholos resort by Tourist Enterprises Association – TEAB SA / Maris Hotels SA, which includes the creation of a tourist village, a complex tourist accommodation resort and two hotel units, in Tholos, Kavousi in Lasithi, Crete (budget 150 million euros).

– A marina in Vlycho, Lefkada, by the Municipality of Lefkada (budget 70 million euros).

Vlycho, Lafkada. Photo © Regional Division of Lefkada

Vlycho, Lafkada. Photo © Regional Division of Lefkada

– A 5-star hotel complex (five-star hotel and holiday homes) in the area of Koumbara – Diakofto on the island of Ios, by 105 SA (budget 43 million euros).

– A 5-star boutique hotel and holiday homes in the area of Pikri Nero on the island of Ios, by NERO SA (budget 45 million euros).

Two hotel complexes in the area of Papas-Loukas-Manousos-Peti-Hamouhades on the islands of Ios, by Lucas SA (budget 90 million euros).

– A hotel complex (five-star hotel and holiday homes) in Barko, Aktio-Vonitsa, by RND Investments Greece (budget 107 million euros).

– The Arcadia resort project in Kyllini in Ilia, Peloponnese, by Killini SA (budget 240 million euros).

– Two hotels – Raffles Mykonos & Fairmont Mykonos – on the island of Mykonos by White Mulberry Development IKE (budget 104 million euros).

The Greek island of Mykonos, Cyclades.

Greece’s list of investments also include a project for the development of photovoltaic and wind farms by the consortium Notias-East PV & Co (budget 214 million euros); a project for a cluster of photovoltaic stations by the Consortium Solar Power Systems SA (budget 172 million euros); a shopping and recreation center in Metamorfosi, Attica, by Panita LTD (budget 93.4 million euros); and a new tissue paper factory in Inofita, Viotia, by Intertrade Hellas SA (budget 46.1 million euros).

’14 + 3 strategic investments’

The government’s spokesman also said that another three projects, of a total value of 1,6 billion euros, are expected to receive the approval of the interministerial committee for strategic investments. The three projects concern the development of renewable energy sources (photovoltaics) by Egnatia SA; 28 wind power stations (ASPIE) in Karystos, Evia, by Terna Energy SA; and five wind parks by Kamaridis GlobalWire Group of Companies.

“The 14 + 3 strategic investments are a subset of 43 investment projects that have a total value of 13.4 billion euros,” Petsas said, adding that the Greek government has one aim, that of making the lives of the Greeks better.

“Building on trust – an intangible national capital, which is so important for the development of the Greek economy – we are creating jobs and sustainable development for all,” he said.

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  1. Lee Durrell Reply

    I see no environmental impact assessment mentioned in relation to these developments, which is very worrying. Of course Greece needs tourism, but not at the long term expense of the environment, which in fact supports not only tourism, but the well-being of all people of Greece.

  2. Antony Drake Reply

    It is a shame the Marina in Vasiliki is not finished, it has been stagnant for 2 years now. Why start a new Marina in Vlycho before Vasiliki is finished.

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