Tourism Investments & Real Estate

The consortium led by Greek real estate firm Lamda Development has increased its initial offer by 25 percent for the 100 percent acquisition of Hellenikon, the former Athens Airport site.

The Libra Group recently announced that it is the principal investor in 50 percent of COCO-MAT and has formed a joint venture with the leading Greek manufacturer of specialist mattresses, other natural sleep products and furnishings.

As of 1 April, the lifts of the Parnassos Ski Center will undergo a 29.52 million euros renovation.

Three major hotel brands, the Hilton, the Intercontinental and the Carlson Rezidor Group, will expand their presence in Greece.

The licensing procedures for four major tourism investments on the islands of Kea, Milos and Ios and mainland Messinia (Peloponnese) are near completion, Greek Tourism Minister Olga Kefalogianni informed on 17 February.

Greek Consul General in Jeddah Chronis Polychroniou has announced that Greece has issued a new law that allows investors from non-EU countries to obtain resident permits for five years, provided the investment is at least 250,000 euros.

A memorandum of understanding for cooperation in the field of tourism was signed between Greece and Saudi Arabia on 10 February in Riyadh.

The best practices for spa tourism and details concerning the certification of Greece’s thermal springs were discussed recently in a meeting held in Athens between the Greek Tourism Ministry and representatives of the Government of Hungary.

Greece’s new Zoning Plan for Tourism provides for an increase in the network of marinas, small ports and harbors in the Ionian Sea, the eastern and southeastern Aegean, and the Saronic, Argolikos and Pagasitikos gulfs, among others.

Greece’s new Special Zoning Plan for Tourism is expected to result to large investments, attract quality tourists and big spenders from abroad and extend the tourism season.