The investment “Diaporos Green Retreat”, by STANTA Single-member Property Management Company, with a budget of 41.7 million euros, was approved and characterized as a strategic investment by the Ministry of Development, as follows from a relevant decision published today in the Government Gazette.
The new tourist development, which will be implemented on the island of Diaporos in the municipality of Sithonia, aspires to be one of the first fully energy-autonomous 5-star tourist complexes in Greece.
What does the investment plan foresee?
The project includes the creation of 76 luxury accommodation units, with ground-floor rooms/villas, two-story bungalows, as well as a central building with high-level facilities. As stated in the decision, the complex will feature:
– swimming pool and communal recreation areas,
– shopping arcade and restaurants,
– yachting club,
– special/alternative therapeutic spa,
– gym and sports facilities,
– children’s play areas,
– even a temple, enhancing the experience element.
Meanwhile, special emphasis is placed on sustainability infrastructure, with an investment of over 3.6 million euros in energy autonomy, as well as the creation of a reverse osmosis unit to meet desalination needs.
The incentives and facilities approved
The investment was included in the “Strategic Investments 1” category, which concerns projects of over 40 million euros and requires the creation of at least 75 new jobs. In this context, the following were approved:
– zoning incentive (ESXASE),
– rapid licensing,
– possibility of granting use of the seashore and beach,
– facilities for accompanying and auxiliary projects.
At the same time, the investment is expected to create 78 new annual work units already from the first year of operation.
How is the cost of 41.7 million euros distributed?
The cost is broken down into a wide range of expenses:
– 16.3 million euros for construction works,
– 6.6 million for electromechanical installations,
– 3.8 million for self-service construction works,
– 3.5 million for equipment, furniture and accessories,
– 1.45 million for engineers and technical supervision,
– 1.5 million for contingencies,
– as well as 1 million for special travel conditions due to insularity.
At this point, it should be emphasized that the investment will be financed by 76.31% through bank loans, while the remaining 23.69% will be covered by equity.
Timeframe and commitments
The investment must be completed within 15 years, with the possibility of extension only for reasons of force majeure. Certification of completion – and the start of operation – will be carried out through an on-site inspection procedure, in accordance with the provisions of the relevant legislation.
