The Interministerial Committee for Strategic Investments is set to approve three major tourism projects worth a total of €1 billion during its meeting on Monday. These investments will be located in Petalioi, Astakos, and the Peloponnese.
Once approved, the licensing process will begin, following a review by the Council of State. This will follow a Special Zoning Development Plan for Strategic Investments. Although each project is at a different stage, all are expected to move forward efficiently.
The first project is a €475 million investment by Hydra Rock, owned by Ioannis V. Vardinoyannis. It will be developed in Vlacheika, eastern Peloponnese, across from Hydra, covering 1.75 square kilometers. The plan includes a luxury tourism and residential complex with high sustainability standards.
Grivalia Hospitality’s €235 million investment in southern Megalonisos, part of the Petalioi island complex, is also set for approval. This 550,000-square-meter project features a luxury hotel, 75 villas, 20 branded residences, gyms, restaurants, and a beach club.
The third project, valued at €250 million, will be developed in Aitoloakarnania, covering approximately 1,800 square kilometers, including Astakos port. It will feature a megayacht marina, luxury residences, a five-star hotel, retail stores, and restaurants.
Additionally, the committee will review an expansion of the Elounda Hills strategic plan by Mirum Hellas in Elounda, making minor adjustments to the coastal concession zone.