A joint ministerial decision was signed on Wednesday, giving the green light for the development project of the Asteras site (Astir Palace peninsula) in Athens seaside suburb of Vouliagmeni.
“This action allows works to begin immediately, so that the complex can be reopened very quickly and cover many hundreds of job positions,” Minister of State Alekos Flambouraris said in an announcement.
The project was signed off by the Ministers of Environment and Energy, George Stathakis; Culture and Sport, Lydia Koniordou; Tourism, Elena Kountoura; Deputy Minister of the Environment and Energy, Socrates Famellos; and Deputy Finance Minister, Katerina Papanatsiou.
In September, Four Seasons Hotels and Resorts announced their plans to bring the first Four Seasons hotel to Greece on the Astir Palace peninsula.
The Asteras site includes three hotels (Arion, Nafsika and Aphrodite) and a marina and upgrades include the transformation of the Arion and Nafsika hotels into the new Four Seasons Astir Palace Hotel Athens, the development of 13 luxury residences (in place of the Aphrodite hotel), the creation of a new park and a huge upgrade of the marina.
The total project value, including the redevelopment, is expected to exceed 600 million euros.