ONYX Tourism S.A. is entering a new phase of development and maturation, as from yesterday, Monday, October 13, 2025, it is now trading on the Main Market of the Athens Stock Exchange. This transition marks the consolidation of a strategic path that began just 27 months ago, when the company entered the Alternative Market, and is inextricably linked to the major investment it is planning in Sani, Halkidiki, a project worth over 500 million euros.
From fashion to hospitality and green development
ONYX, led by Leonidas Zisiadis, began its journey in the clothing sector, but soon redefined its investment footprint. With the merger of Onyx Agrotourism and Green Hope (AGANOR) in October 2024, Onyx Tourism emerged, aiming to operate in four strategic pillars: tourism, real estate, agricultural production and green energy.
Today, the company is valued at 155 million euros, i.e. 15 times higher than its initial valuation in 2023, strengthening its position as an emerging “player” of the new generation of tourism investments in Greece.
The Onyx Estate Project: an ecosystem of sustainable hospitality
The flagship of the company’s projects is the Onyx Estate Project in Sani, Halkidiki, on a 650-acre property that is entirely owned by ONIX. Of these, 433 acres have already been included in the procedures for inclusion in the Strategic Investments and within the framework of the Recovery Fund (RRF).
The project, which strongly bears the imprint of the Zisiadis family, aspires to combine Mediterranean aesthetics with sustainable architecture and agrotourism. As Leonidas Zisiadis points out, “this is an investment that shows how the Greek way of life can be a development advantage of international scope”.
A multi-level development plan
The development plan of ONYX is characterized as multisegmented, i.e. multi-level, as it includes distinct but interrelated activities. At its heart are a tourist village with 108 holiday homes for sale, integrated into the real estate part of the project, as well as a complex tourist accommodation that will combine 428 bungalows, 120 suites and 120 villas (in the second phase, also for sale but available for rent from the resort).
The total investment reaches 390 million euros, not counting the value of the land, raising the total valuation of the project to over 500 million euros.
Agri-food, geothermal energy and culture
One of the most important elements of the project is the integration of the agri-food sector. ONYX plans to create an olive grove and vineyard, as well as the establishment of a distillery, apiary and a cultural museum.
At the same time, the company has already secured two geothermal wells, with plans for further low-enthalpy research work. The use of geothermal energy is expected to significantly reduce the environmental footprint of the complex, making it one of the most ecological tourism projects in the country.
The timeline: From ESHASE to implementation
The company has already submitted a request for inclusion in the ESHASE (Special Spatial Strategic Investment Plan) regime, which is expected to be approved in 2026, as well as a loan request from the Recovery and Resilience Fund. The financing of the project is based on a model of 80% borrowing and 20% equity, with the self-financed part concerning the residences and villas, which will be commercially available ensuring a stable cash flow. In addition, ONIX is planning a share capital increase through a public offering, in consultation with the banks and within the framework of the Recovery Fund requirements.
Based on the current plan, the three-year construction phase will start immediately after the approval of the ESHASE (2026-2029).
The project will evolve gradually, maintaining economies of scale and construction consistency, with the aim of creating a “human, harmoniously integrated and high-quality project”, as underlined by Fokion Zisiadis, father of Leonidas and former vice president of SANI S.A.
“Development as part of the place”
With the backdrop of Sani, where the Zisiadis family has deep roots and a decades-long history in tourism, ONIX Tourism attempts to redefine what “investment with identity” means.
As Fokion Zisiadis stated, “ONYX was born to express an idea with a different aesthetic, that development does not have to be foreign to the place that gives birth to it, but an integral part of it.”
