MYKONOS: One&Only and Monterock to open a new 5-star hotel worth €81 million

mykonos One&Only Monterock

With Arab funds and securing the support of luxury brand One&Only, the new 5-star project connected to the investment company Monterock International is coming to Mykonos. The company continues to expand in the Greek market, especially in the two premium destinations - Mykonos and Santorini.

The company's new investment move, reported New Money, concerns funds amounting to 81.19 million euros for the creation of the 5-star hotel complex in the Kalafati area of ​​Mykonos, for which the relevant file has already been submitted to Enterprise Greece since the end of last year.

The operator of the investment, ''Distinction Resorts'', is a member of the Monterock group, which has a presence on the island, both in the catering sector (Coya, Nammos, Nusr-Et) and in the hospitality sector, having acquired the former Kensho, now N Hotel Mykonos, on the well-known Psarou beach.

The Greek businessman Petros Stathis also has an active role in Monterock in addition to the "resounding" investment funds that support it, such as the Investment Corporation Of Dubai, the investment company that manages the state fund of the Emirate of Dubai.

This is with placements in strategic investments internationally - and in Greece - with last year's deal for the acquisition of "N Hotel".

It should be noted that, since last year, Monterock has made its presence stronger in Santorini with the Danae Suites Santorini and Nobu Santorini.

Nobu Hospitality, the international lifestyle brand founded by Japanese chef Nobu Matsuhisa, leading actor Robert De Niro and American producer and entrepreneur Meir Tepper has entered into a long-term management agreement with Monterock.

6 33

Now, especially for the Island of the Winds, the new plans of Monterock International with the participation of Arab funds, exceed a total of 200 million euros for two major investments.

The first concerns the new - and more advanced in terms of maturity - project in Kalafatis for another One&Only in Greece (including the two brand new resorts in Asteria Glyfadas and Kea are expected this year).

The other is another luxury resort, this time under the signature of the luxury brand of Aman (the second in our country after the one in the Peloponnese).

Regarding the new project in Kalafati, amounting to more than 81 million euros, it is in consultation with Enterprise Greece. It concerns the functional amalgamation of five neighbouring properties in the off-plan area "Kalafati - Kato Vouni" in Mykonos and has the aim of creating a new hotel complex.

The total construction of the tourism development in question, which will have sustainable features, amounts to 9,887 square metres, total plot area of ​​about 80 acres.

The company has requested the inclusion of the investment as "strategic" based on the provisions of Law 4864/2021 and in particular with the receipt of tax incentives under Article 8 of the aforementioned law.

The investment company Monterock International currently has a presence in 18 countries with investments in the field of hospitality, real estate, the financial sector, the media, industrial production and the production of green energy.

It should be noted that at the end of last year, Monterock announced its strategic partnership with Alpha Dhabi, one of the fastest growing listed groups in the United Arab Emirates with ambitious plans to further develop a portfolio of luxury brands in the sectors of hospitality, lifestyle and focus.

Among them is the well-known brand - also in our country - "Nammos" , with the joint venture aiming to both "open" to new markets and create new concepts.

Alpha Dhabi Holding was created in 2013 and currently has over 100 holdings in companies in the healthcare, renewable energy, real estate, hospitality and construction sectors with over 85,000 employees.

READ MORE: Discover MarBella Collection Luxury Hotel - Corfu.