Tourism Investments & Real Estate

The Tourism Ministry on Tuesday announced that investment plans for the development of luxury resorts in various Greek destinations were currently being processed in its special “one-stop-shop” service established to facilitate large-scale projects.

Chinese shipping giant Cosco will dish out some 500 million euros over and above the paying price for the port of Piraeus, its managing director, Xu Lirong, said this week during talks with Greek Prime Minister Alexis Tsipras, who is in China on an official five-day visit to attract investments.

With the sale of a majority stake in the Port of Piraeus to Chinese shipping giant Cosco at the center of talks, Greek Prime Minister Alexis Tsipras sealed on Monday a number of deals with Chinese officials during his five-day visit this week to Beijing and Shanghai, aiming to garner investment support.

The Greek Council of State has approved amended plans for the sale of the historic coastal hotel resort Astir Palace to consortium Jermyn Street Real Estate Fund IV LP.

German investors are exploring opportunities in Greece to place their capital, according to the Hellenic Federation of Enterprises (SEV).

The 300-member Greek parliament ratified by a 223-vote the sale of the Piraeus Port Authority (OLP) to Chinese shipping giant Cosco a day after the Hong-Kong based conglomerate said in letter that the terms for the deal submitted to parliament had been altered.

Greece needs investments in tourism to the tune of some 5.5 billion euros between 2017 and 2023 if it wants to meet increasing demand from abroad and recover domestic demand, according to a National Bank of Greece (NBG) Economic Analysis Department study released recently.

In efforts to stimulate entrepreneurship, push for expansion into new markets and pave the way for new growth prospects, the Athens Chamber of Tradesmen stressed the significance of bringing the world’s largest e-commerce group, Alibaba, to Greece during a press conference on Wednesday.

Representatives from the world’s largest e-commerce group, Alibaba, will be visiting Athens in September to hold talks with government officials and local professionals on a future collaboration.

Greece has once again pushed back the deadline for binding bids to finance, build and operate a new airport on the island of Crete.