Sani-Kassandra Property Contract Finalized for 8.6 Million Euros

Photo source: HRADF

Sani-Kassandra, a much-coveted real estate property in Halkidiki, northern Greece, has now been officially transferred by the Hellenic Republic Asset Development Fund (HRADF) to Sani Development and Tourism Company S.A..

Last January, the company was declared the highest bidder for the development of the property, offering a fee of 8.6 million euros, which will be paid to the fund upfront in a single installment.

According to the HRADF, the signing of the contract marks the beginning of a landmark investment in northern Greece.

Located in Metohi Stavronikita, in the Municipality of Kassandra, Halkidiki, the Sani-Kassandra property spans an area of 273,707.10 square meters and holds great environmental and tourism interest.

The contract signing meeting was attended by HRADF CEO Dimitris Politis and HRADF Executive Director Panagiotis Stampoulidis. Representing the company were Theologos Mintzas, Valia Anastasopoulou, Anastasia Bolari, Lampis Pachygiannakis, and Eleanna Karvouni.

HRADF Executive Director Panagiotis Stampoulidis and Anastasia Bolari of Sani Development and Tourism Company S.A.. Photo source: HRADF

With the signing of this contract, HRADF has completed the procedures leading to the development of 22 large-scale real estate projects through individual tenders, and for 75 more properties in clusters through electronic auctions and sale-and-leaseback schemes.

These projects have generated tender revenues totaling 1.62 billion euros for Greece and are expected to yield multiple investments with significant social, environmental, and economic impacts.

Speaking during the signing, HRADF CEO Dimitris Politis said the tender for the project reflects HRADF’s new culture.

“We focus on regional development, prioritizing the implementation of investments with multiple benefits for the local community and the region’s economy,” Politis said.

HRADF’s CEO added that the high-level tourism development planned by the investor will result in new jobs and the attraction of more visitors to the area.