Large-scale investment project in Agios Nikolaos (Crete) with a total amount of 408 million Euros is approved.

This project called “Elounda Hills” will be implemented by the consortium “Mirum Hellas” led by Russian businessman Vitaly Borisov.

According to the Ministry of Economy and Development, after evaluation and recommendation of Enterprise Greece, the Interministerial Committee on Strategic Investments approved the foreign direct investment project in the amount of 408 million Euros in the tourism sector of Greece.

“Elounda Hills” includes development of about 375 luxury houses and apartments, three hotels with a total capacity of 730 places, a marina, shops, parks, health centers, restaurants, cafes, bars, sports centers and amusement parks. According to available data, the construction of the facility is scheduled for 8 years. The area of 840 acres is divided into six segments, and total area of buildings is 163,000 square meters.

It is expected that this investment project will give a number of direct and indirect positive economic and social benefits, both at the national and local levels, and it is planed to create at least 763 new jobs during the construction, and operation phases.

September 2017