The path is now open for the extensive renovation, modernization, and – most importantly – functional integration of the three historic hotels Pallini Beach Hotel, Athos Palace, and Theophano Imperial, which will be transformed into the new Ikos Kassandra resort, one of the most ambitious projects of Sani/Ikos. The Building Authority of Nea Propontida has granted pre-approval for the revision of the building permit.
The Permit and Its Scope
The pre-approval act gives the “green light” for the revision of the existing building permit, allowing the implementation of a wide-ranging plan of works. This includes the functional integration of the three hotels, upgrading and modernization of facilities, full renovation of interior and exterior spaces, and continuation of seismic reinforcement works. At the same time, it provides for the legalization of existing structures under Article 94 of Law 4495/17.
Crucially, the revision does not alter the urban planning parameters (building footprint, coverage, volume, height). This means that changes will focus on functional, aesthetic, and organizational interventions, as well as the creation of a unified architectural and operational identity, in line with the Ikos Resorts operational standard. The process is supported by a series of opinions and approvals, given the scale and complexity of the project.
The Acquisition That Changed the Game
This investment gained new momentum following the April 2025 acquisition of Athos Palace, Pallini Beach, and Theophano Imperial by the Sani/Ikos Group, previously owned by Goldman Sachs. The transaction marked the company’s largest development step in Halkidiki to date.
According to the plan, the three hotels will be fully reconstructed and integrated into a single complex: Ikos Kassandra, the first Ikos Grand Resort and the largest Ikos implemented so far. Scheduled to open in April 2029, the new resort will feature 750 rooms, suites, and villas, spanning 160 acres with a 600-meter beachfront.
High-Standard Design
Ikos Kassandra will incorporate all elements that have made the Ikos platform internationally recognized: luxury suites with private pools, multiple indoor and outdoor pools, exclusive zones for adults and families, and an extensive network of all-inclusive luxury services.
The resort will feature over 30 restaurants and bars, including fine dining options curated by award-winning chefs, as well as cultural and recreational facilities such as theaters, a modern spa, sports academies, and clubs for children and teenagers.
In terms of employment, the construction phase will create approximately 1,000 jobs, while the operational phase will employ 1,300 staff, making it one of the largest employers in the region.
Sani/Ikos Investment Strategy
Ikos Kassandra is part of the Sani/Ikos Group’s five-year investment program, exceeding €1 billion by 2029. The development plan also includes Ikos Kissamos in Crete, opening in 2026, Ikos Marbella in Spain, opening in 2027, and Ikos Cortesia in Portugal, expected to open in 2028.
Upon completion of Ikos Kassandra, the Group’s total capacity will exceed 5,600 rooms, solidifying its position as one of the fastest-growing luxury hospitality groups in Europe.
