Greece’s Privatization Agency Pushes Forth Two Rhodes Tourism Projects

Afantou, Rhodes. Photo Source: TAIPED

Greece’s privatization fund, TAIPED has paved the way for the completion of a property sale in North Afantou, on the island of Rhodes, to US-based MA Angeliades Inc, which submitted a 26.9-million-euro bid for the creation of a tourism project that will include a golf course.

At the same time, ΤΝ Aegean Sun Investment Ltd is still awaiting defence ministry approval for a plot in South Afantou, which is hinging on a special spatial planning law setting out the terms and conditions for land use on the specific property.

Like many tourism projects in Greece, and despite being named preferred investors in 2014, US-based MA Angeliades Inc and TΝ Aegean Sun Investment Ltd are still awaiting the final approvals – delayed due to bureaucracy and opposing ministry and official mandates.

Afantou, Rhodes. Photo Source: TAIPED

In efforts to ensure the archaeological feasibility of the projects, TAIPED signed a Memorandum of Understanding and Cooperation with the culture ministry, carried out preliminary appraisals at its own expense, and following approval by the Ephorate of Antiquities – Dodecanese, completed all the necessary procedures in order to move ahead with the projects.