Tourism Investments & Real Estate

The Greek government is examining the possibility of a second round of airport concessions to be undertaken by a new body which will oversee the use and management of state property previously controlled by the finance ministry.

“We are convinced that our engagement in Greece will act as a catalyst for the growth of the country’s vital tourism sector”, Alexander Zinell, Fraport Greece’s CEO, said while welcoming the parliamentary ratification of the concession agreements for the Greek regional airports project.

Greek Defence Minister Panos Kammenos and Alternate Tourism Minister Elena Kountoura on Thursday signed a protocol of cooperation for the utilization of estate owned by the National Defence Ministry.

The bidding process for the financing, construction and operation of the new Kastelli airport project in Heraklion, Crete, has been extended until June 27, Infrastructure Minister Christos Spirtzis said, adding that six parties have thus far expressed interest.

Speaking from Thessaloniki on Tuesday, during a special ceremony marking the launch of works on the TransAdriatic Pipeline (TAP), Greek Prime Minister Alexis Tsipras said TAP marks a new era for Greece, describing the project as one of “regional cooperation” and of great “economic and geo-strategic importance”.

Tourism is among the first sectors in Greece to receive EU funding to the tune of 112 million euros for three projects in addition to a fourth included in the infrastructure transport sector, under the EU Infrastructure Investment Plan.

Despite having set May 6 as the final date for the submission of binding offers for the Kastelli airport project on Crete, the government just may extend the tender procedure.

Deductions and Exemptions, leasing and interest subsidies, and a 12-year fixed tax framework are part of a new incentives law tabled recently and set for vote by the end of the month, Economy, Development and Tourism Minister George Stathakis and Secretary General for Strategic and Private Investments Lois Labrianidis announced.

The culture ministry and Rhodes authorities are at loggerheads over a decision by the former to initially declare the area of Afantou as an archaeological site despite official plans to create a golf course there and then to release a statement saying the investment can proceed as planned.

China’s Cosco Group on Friday signed a 368.5-million-euro agreement with Greek privatization fund TAIPED for a majority stake in Piraeus Port Authority (OLP).