Major Luxury Tourism Projects Across Greece to Boost Economy

Atalanti Hills project. Photo: Lokros

Foreign investors are placing their bets on Greek tourism with more than 3,200 new rooms in the pipeline.

Experts say new accommodation units, most of these in the luxury category, as well as the accompanying services will further boost the sector as well as the Greek economy.

Among the projects underway are Miriam Hellas in the Lassithi prefecture of Crete, and handled by a Russian-interests consortium. The project is budgeted at 408 million euros and involves the development of 850 acres of land near the popular Elounda area to include 380 tourist homes, three five-star hotels as well as a marina, shops, wellness centers, restaurants and bars, athletic centers and recreational parks.

Another is the Arabic-interests RSR Eagle Resort in Karystos, Evia, which will include some 400 tourism residences, hotels, a marina and a conference center at a budget of 200 million euros.

A third 1.3-billon-euro investment by Lokros Real Estate in the mainland Atalanti area is awaiting the green light after a decade due to environmental concerns. If approved, the Atalanti Hills project aims to develop three resorts with 8,872 beds on 12,351 acres of land, including 18-hole golf courses for each unit as well as an additional 1,000 bungalows.

Lastly, NCH Capital is set on constructing 203 new tourism residences on 447 acres in Kassiopi, Corfu, to cost 100 million euros with four more projects slated for Crete, Ilia and Limnos.