Tag: Privatization

Four Seasons Astir Palace Hotel Athens

Procopiou Takes Full Ownership of Astir Palace Hotel Group

Greek shipping magnate George Procopiou has completed the acquisition of the Astir Palace Vouliagmeni hotel group, solidifying his ownership of the iconic Athenian luxury destination. This follows a two-stage purchase, culminating in full control of the complex, which includes two Four Seasons hotels, a marina, high-end restaurants, and luxury villas.

budget

Greece to Revise 2025 Budget After Unexpected Financial Surplus

Greece is revising its 2025 budget after unexpectedly strong financial results, including a €6.1 billion surplus through October, well above the projected deficit. This surplus is largely due to robust economic growth, higher-than-expected tax revenues, and successful efforts to combat tax evasion. The government also made significant progress in repaying its debt ahead of schedule, with plans to pay off €7.9 billion in loans by December. As a result, Greece’s debt-to-GDP ratio is set to fall to its lowest level since the debt crisis, paving the way for fiscal stability and potential tax cuts.

tolls

Greece Inks €3.3 Billion Lease Deal for Athens Toll Highway

Greece has signed a €3.3 billion deal with GEK Terna for the lease of a major toll highway in Athens, part of efforts to meet a fiscal goal of €5.8 billion from privatizations this year. This agreement, involving the Attica Motorway, is expected to significantly contribute to reducing Greece’s public debt, the highest in the eurozone.