Crete: HRADF Seeks Investor to Transform ‘Gournes’ into an Iconic Destination

Photo source: HRADF

The Hellenic Republic Asset Development Fund (HRADF) has extended the deadline for the submission of bids for the exploitation of part of the former U.S. military base of Gournes in Hersonissos on the Greek island of Crete.

The final date for submitting offers has been extended to October 15.

Located on one of the most famous Greek tourism destinations, the Gournes property has a total greenfield exploitable area of 345,567 sq.m.

“The Gournes property is seeking a new investor in order to become the new iconic destination for Crete when its promising new development takes place,” the HRADF said in an announcement.

The exploitation concept for Gournes includes the sale of ownership rights over the property (Freehold).

Photo source: HRADF

According to the property’s special plan for the spatial development of public properties (ESCHADA), the Gournes estate can be developed under the “Mixed Use” concept, which includes the creation of facilities of a theme park, retail, tourism-leisure and a casino. The property’s ESCHADA plan has been approved through a presidential decree.

As noted by the HRADF, the concept has been designed to have a positive impact on the local, regional and national economy.

The location of Gournes is considered unique. It faces a bathing coast and is part of an open bay about 950m long, with sandy organized beaches. The small port situated at its west end is considered an ideal berth for private leisure boats and yachts.

The asset is located 13 km from the existing Heraklion airport, 20 km from the new international airport that will be developed at the Kastelli Village over the next few years, and 16 km from Heraklion. The property also has direct proximity to the International Exhibition Center, the Cretaquarium and 10 km from Crete Golf Club.

Source: HRADF

More information about the Gournes property and the ongoing tender process is available here.