The Ministry of Development has officially completed and certified the investment of the company Amandiel SA in Kalo Livadi, Mykonos, according to decision 86859/06-11-2025 (correct repetition 10/11/2025). As published by the General Directorate of Development Laws, the investment concerns the creation of a new five-star hotel unit, with a capacity of 31 rooms and 69 beds, with a total eligible cost of 5,406,725.42 euros.
In fact, the finalized subsidized cost is 3,407,448.75 euros, while the total public aid reaches 987,240.13 euros. The completion date of the investment was set at 5 September 2024, with the total number of jobs at the time of certification being 11.15 EMU.
In the meantime, the company is being penalized with a total of 24,681 euros, due to two violations found during the audit. As highlighted, the first concerns late notification of a change in the shareholding structure, while the second concerns failure to achieve the goal of creating the required new graduate jobs, as provided for in paragraph (3i) of Annex D1 of the law.
At the same time, the payment of the balance of the grant, amounting to 465,786.91 euros, was approved, after deducting the 50% already paid, as well as the penalties distributed based on the relevant provisions. The decision, as it appears from the official document, was issued without the need for an Advisory Committee, in accordance with article 122 of Law 4887/2022.
It is worth noting that the investment was included in the New Independent SMEs aid scheme of Law 4399/2016.
