Massive Argos Tourism Investment Kilada Hills Gets Green Light

The Council of State approved last week of a 418-million-euro tourism investment in the valley of Ermioni, near Argos in the Peloponnese.

Under the name Kilada Hills, the investment to be carried out in the Ermione municipality, will include the construction of 320 country homes, 100 villas and 28 residences (on a total of 178,428m2 of land), a 300-bed hotel (29,150m2), a health and wellness center, a seaside beach club with cabanas and a golf course (207,578m2).

The massive tourism project will be implemented by real estate development company Mind Compass Overseas LTD, a subsidiary of Dolphin Capital Investors Ltd, an LSE-listed real estate investment company focusing on the residential resort sector in emerging markets.

The said investment, which aims to attract prominent high-spending travelers, is expected to create 600 new jobs during operations and 2,000 new positions during its construction. Supporting professional activities are also expected to grow out of new needs while revenue and foreign exchange to the region is set to increase.

In the meantime, according to reports, parts of the Kilada Hills project have been designed to be built on land that has been declared since 1980 as an archaeological site.