Investments Major Tourism Investment on Crete Gets Green Light by GTP editing team 19 March 2015 written by GTP editing team 19 March 2015 0 comments Share 0FacebookTwitterLinkedinWhatsappEmail 17 Aerial view of Kavo Sidero. The Greek Council of State, the highest court in Greece, has approved the draft presidential decree which refers to the development plan and strategic environmental impact study of the “Itanos Gaia” tourism project on Crete of travel firm Minoan Group. The project is an investment of Loyalward — now part of Minoan Group — with a budget of some 267 million in Sitia (Lassithi) in the Kavo Sidero area. The investment involves five hotels with a total capacity of 1,936 beds, an 18-hole golf course and a wellness center. The project first launched in 1998. In an announcement, Minoan Group said that the approved draft presidential decree will now be passed to relevant ministers and then finally to the President of the Republic for signatures. Further announcements will be made when appropriate, Minoan Group said. According to Minoan Group, the green light given by Greece’s highest court caused the company’s shares to rise by more than 19 percent. Follow GTP Headlines on Google News to keep up to date with all the latest on tourism and travel in Greece. Share 0 FacebookTwitterLinkedinWhatsappEmail GTP editing team This is the team byline for GTP. The copyrights for these articles are owned by GTP. They may not be redistributed without the permission of the owner. previous post Kountoura Discusses Events for “Year of Russia in Greece” and “Year of Greece in Russia” in 2016 next post Piraeus Announced as Homeport for Carnival Vista in 2016 You may also like Greece’s Hotel Market Sees Major Investments Over Four Months 5 February 2025 Peiraios Industrial Complex to Become Athens’ New Cultural Hub 5 February 2025 Greek Authorities Closely Monitor Seismic Activity Between Santorini and Amorgos 3 February 2025 Crete: Beaches in Rethymno to Receive New Accessibility Infrastructure 31 January 2025 Conde Nast Traveller: Milos the Best Greek Island to Visit in 2025 31 January 2025 Interactive Museum of Technology to Open in Trikala, Thessaly 31 January 2025 Leave a Comment Cancel Reply Save my name, email, and website in this browser for the next time I comment. Δ