German Investor Challenges Controversial Development in Corfu

Jörg Rockenhäuser, a prominent German investor and head of Permira, has emerged as a vocal opponent of the planned investment in Erimitis, Corfu, which he criticises as a threat to the area’s natural beauty.

In a recent article by the German newspaper FAZ, Rockenhäuser, who usually keeps his family’s private life out of the spotlight, has made an exception due to his strong opposition to the development project.

The controversial plan, backed by the NCH Capital Group, involves constructing a luxury hotel and several villas in the protected Erimitis area, which is located across from the Albanian coast. NCH, based in New York, aims to invest €120 million, though only €20 million has been received by the Greek State so far.

Rockenhäuser, supported by high-profile investors like Jacob Rothschild and Rob Lucas of CVC, has launched the “Save Erimitis” campaign, which includes hiring top lawyers to challenge the development. The investor argues that such projects undermine Greece’s natural beauty and tourism appeal.

While the Greek Minister for Investment appears to support large-scale foreign investments, other government officials and local communities are opposing the project. Rockenhäuser has proposed purchasing the property himself to protect it from development, despite acknowledging the financial impracticality of such an investment.

In a letter to the Greek Prime Minister, Rockenhäuser and his allies, who have collectively invested over €100 million in Greece, urged for the preservation of Erimitis, asserting, “We want Greece to remain the most beautiful country in Europe. Protect the natural beauty of Erimitis.”

(Source: Enimerosi)