Tourism Investments & Real Estate

Five major tourism projects in Ithaki, Viotia, Chios, central Greece and Crete, are awaiting the green light under the country’s “Fast Track” law, which accelerates the licensing procedures for private-public investments.

The deal between private equity firm Invel Real Estate and Amathus Beach Hotel on the island of Rhodes is set to go down in ink in April at a price tag of 30 million euros.

Plans to move ahead with the privatization of Piraeus port are expected to top the agenda in Brussels today, when Greek Finance Minister Yanis Varoufakis meets his eurozone counterparts.

Frankfurt-based transport company Fraport is calling on Greece to honor a 1.2 billion euro deal set to close in October, for the management of 14 regional airports.

Hotel group Vita Hotels has added two new accommodation investments on the island of Crete to its portfolio, striking a deal, in the meantime, with UK travel providers Thomas Cook for exclusive services.

The infrastructure ministry is expected to decide on the future of planned projects along the Faliro coast, which include the completion of the Stavros Niarchos Cultural Center, in the coming days.

Plans to revamp central Panepistimiou Avenue as well as the property along the Faliro coast have been shelved despite Infrastructure Minister Michalis Chrysochoidis’ assurances in November that the projects were going ahead as scheduled.

The Greek Tourism Ministry is reaching out to young entrepreneurs and will launch an online database platform aimed to support startups.

The European Commission has approved Greek projects adding up to 19 billion euros under the new National Strategic Reference Framework (NSRF) for the Programming Period 2014-2020.

Burger King Worldwide, one of the largest fast food hamburger chains in the world, has announced the establishment of Burger King Southern and Eastern Europe SA as a joint venture to aggressively expand the Burger King brand presence and business in Italy, Poland, Greece and Romania.