Investments

The expansion and overhaul of the Makedonia Airport in Thessaloniki is set to be completed in two years’ time, says German airport operator Fraport.

Following record years of tourist arrivals and revenue, Greece is attracting international interest for investments in its hospitality sector.

Investment opportunities in Greece’s tourism sector will be in the spotlight during the Mediterranean Resort & Hotel Real Estate Forum (MR&H) that will take place in Athens during October 17-19.

Greek small and medium-sized enterprises (SMEs) active in tourism will be able to tap into additional subsidies after the economy ministry announced that it was increasing funding.

Russian billionaire Dmitry Rybolovlev is ready to set a 185-billion-euro VIP tourism project into motion on the Greek islet of Skorpios.

AIA SA recently submitted a new offer to Greece’s privatization agency HRADF for the 20-year extension of the Athens airport concession agreement.

The Labor Ministry will launch tenders for the long-term lease of landmark buildings in Athens that have been abandoned, including properties that housed hotels.

Construction works to expand the main terminal of Athens International Airport (AIA) in view of ever growing numbers of travelers are currently under way.

All the more investors are setting their sights on Greece, as tourism flows increase and businesses with non-performing loans need a way out.

Following the sale of the Thessaloniki Port Authority, Greece’s assets body is aiming to launch the third privatization phase of 10 ports across the country in fall.

The economy ministry is set to announce the allocation of 120 million euros for the funding of tourism ventures and plans to double subsidies.

Plans for the development of a metropolitan park and recreation area at Athens’ former airport in Hellinikon, have been opened for public consultation.

The Hellenic Gaming Commission is welcoming proposals on a teaser for the international tender for the license to operate a casino at Hellinikon.

Plans for the creation of a waterway in Elefsina, West Attica, were discussed between Hellenic Seaplanes and the town’s mayor.

The Greek market for holiday homes is picking up pace with going prices for properties on main island destinations increasing in the first half of 2018.

Greece is evolving into one of the most popular global destinations, with investment activity in its hospitality sector picking up pace, according to a GBR Consulting report.

Citing security risks, the European Commission is urging member states to restrict issuing investor visas to non-nationals, with plans to publish new regulations in September.

Greece is preparing to tender off the largest project to be carried out at Piraeus port to accommodate larger cruise ships.

Wyndham Hotels & Resorts is set to open its second “Wyndham Grand” hotel in Greece on the island of Crete, in the summer of 2019.

Grivalia Hospitality has moved ahead with the acquisition of the Amanzoe luxury resort in Porto Heli, Peloponnese, Greece.