Greek Island up for sale

The Greek islet of Fleves in the Saronic Gulf just off Vouliagmeni Bay, which is property of the Greek Defence Ministry is up for sale and it’s reported two investors have already expressed keen interest.

According to recent Greek media reports, two investors have made offers thus far- an Abu Dhabi-based company with an investment of 1.5-2.5 billion euros, which is set for construction of four luxurious resorts with 450 rooms and 470 villas, a golf course, water park and an underwater park, targeting high-income family tourism; and also a Greek company with a budget of 700 million euros going towards the construction of four luxury hotels, villas, a conference centre, a marina and a Cyclades-style village as well as a sailing club on the neighbouring Flevopoula islet.

In order for any project to begin, Greek parliament must first approve of the plans and abolish its current classification as a “navy fortress”.

Located just opposite Astir Palace luxury resort, the island of Fleves is 1.4 km2 and is not populated.

GCT Team

This article was researched and written by a GCT team member.

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