The Council of State (ΣτΕ) has officially approved the Presidential Decree for the strategic tourism investment “Scarlet Beach” in Petrothalassa, Ermionida, Argolida. This approval clears the way for the implementation of the project, which is valued at approximately €203 million and is backed by HD Cheli Investments RSC Ltd, a company directly linked to the royal family of the United Arab Emirates, specifically Sheikh Tahnoun bin Zayed Al Nahyan, Crown Prince of Abu Dhabi.
A Landmark Investment for the Peloponnese
The plan includes the development of a five-star luxury hotel complex with 100–121 rooms, along with 14–15 tourist residences. These will consist of 9 branded residences within the hotel and several luxury villas located in a separate zone north of the main complex. The residences will be sold or leased, targeting a high-end clientele.
The project will also feature:
Conference and event spaces
Retail outlets, restaurants, and bars
Wellness centers
Agrotourism facilities
A desalination plant and wastewater treatment unit
A small marina
Public access to the beach will be maintained via a specially designed local road.
Low Density, Sustainability, and Environmental Respect
The total project area covers 217.5 acres, with a total building area of 26,100 sq.m. (12% land coverage) and a building coefficient of just 0.12. Maximum building height is capped at 10.75 meters (7.5 meters for residences).
Scarlet Beach places a strong emphasis on environmental protection. The development includes:
Eco-friendly anchorage systems to protect marine life
Water resource protection and stream conservation
Climate change adaptation measures
Green building certification standards
Strategic Status and Fast-Track Process
The project was classified as a “Strategic Investment” in May 2023 under Law 4864/2021, granting it fast-track permitting and spatial planning privileges. The Strategic Environmental Impact Study was approved by all competent authorities, including the Ministry of Environment, the Peloponnese Region, and the Municipality of Ermionida.
From the initial application in June 2022, the Special Spatial Development Plan was completed, and the Presidential Decree received final approval in just three years—relatively rapid by Greek administrative standards.
Backed by a Major International Investor
HD Cheli Investments is an investment vehicle of ADQ, the Abu Dhabi sovereign wealth fund managing over $300 billion in assets. The project will be executed by Scarlet Beach S.A., a company connected to the International Holding Company (IHC), chaired by Sheikh Tahnoun. Board members include senior figures from the Royal Group and IHC, such as Ahmed Nasr Mohamed Abuzaid and Sofia Abdellatif Lasky.
Local Economic Boost and Job Creation
The project is expected to generate:
26 permanent jobs
323 seasonal jobs during the operation period (April–October)
The investment breakdown includes:
€167 million for construction
€12 million for equipment
€4 million for studies
€18 million for contingencies
Scarlet Beach aims to transform Petrothalassa into a luxury destination, boosting Ermionida’s tourism appeal and reinforcing Greece’s position as a hub for high-profile international investment.
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