EKTER secures new contract for Six Senses Porto Heli

With the new agreement, EKTER undertakes the implementation of the second construction package (Work Package 2), with a budget of €68.57 million plus VAT. The package includes the construction of the five-star hotel and twelve luxury tourist residences. As a result, the company’s total contractual scope increases to €101.07 million, while the completion of the project is expected to take place gradually by March 2028. The new contract also raises the outstanding backlog of the listed company’s signed projects to €277.6 million, significantly strengthening the visibility of its portfolio.

The current form of the investment differs considerably from the original design. A decisive role was played by the Joint Ministerial Decision issued in April 2026, which amended the initial 2023 approval for the conversion of the former Costa Perla hotel into an Integrated Tourist Resort under the international Six Senses brand.

The new decision incorporated two adjacent plots with a combined area of 28,948.99 square metres, significantly increasing the scale of the development. The total permitted building area and coverage increased from 13,554.59 sq.m. to 19,411.92 sq.m., while the total constructed area rose from 16,663.34 sq.m. to 24,740.21 sq.m. This revision is linked both to the addition of new partially underground structures and to the utilisation of additional building allowances for specialised tourism infrastructure, substantially strengthening the branded residences component and transforming the project into one of the largest luxury real estate developments currently underway in Greece.

The project is being developed in the coastal area of Kouvertas – Perle – Bourloto in the Municipality of Ermionida, on the site where the historic Costa Perla hotel operated from 1973 to 2009, with a capacity of 362 beds. The hotel served for decades as a landmark destination for Porto Heli before being abandoned and subsequently undergoing a complete redesign to create a new integrated tourist resort of international standards.

The investment vehicle is Cyprus-based Utherton Ltd, with Zoniro acting as the development and management company. The initial investment initiative was organised by a consortium comprising London-based CBE Capital, Golden Land Goutos, New York-based Taconic Capital Advisors, and London-based Cedar Capital Partners. The operation of the resort will be undertaken by Six Senses, the luxury brand of the IHG Hotels & Resorts group.

This partnership is of particular significance for the Greek market, as following the development of Six Senses in Petalioi, Evia, the international hospitality brand is expanding its presence into the Peloponnese, selecting one of the Mediterranean’s most rapidly developing high-income destinations.

The new Six Senses Porto Heli is being designed as an integrated luxury resort with a strong emphasis on sustainability and wellness. The complex will be developed in accordance with LEED standards, incorporating energy-efficient solutions and advanced environmental design practices.

At full development, the resort will feature approximately 60 rooms and suites, most with private pools, large terraces, or private gardens, as well as a standalone three-bedroom villa. In addition, the project includes the creation of twelve luxury tourist residences, as provided for in EKTER’s latest agreement, which will form the residential component of the development.

The architectural design is being undertaken by Delogu Architecture of Rome and Arch Group of Athens. The architectural concept makes full use of the area’s natural topography, ensuring unobstructed sea views from almost all key areas of the complex — from the lobby and guest rooms to the large infinity pool and spa. The residences are integrated within a landscaped natural park, offering privacy while preserving the overall coherence of the development.

A key element of the project is the Six Senses Spa, with a total surface area of approximately 1,600 sq.m., which will include eight treatment rooms, a Biohacking Lounge, boutique, concept store, and outdoor gym. The resort will also feature a main restaurant, beachfront restaurant, panoramic-view bar, traditional Greek café, outdoor event spaces, and an organic vegetable garden. Along the coastal zone, the development includes a beach club, boat dock, water sports facilities, and leisure areas.

Upon completion, Six Senses Porto Heli is expected to become one of the Mediterranean’s most significant new ultra-luxury hospitality destinations, further strengthening Porto Heli’s international position as a market for luxury residences and high-end investments.