The investment, with a total budget of €41.7 million (excluding VAT), has been included in the Strategic Investments framework pursuant to Law 4864/2021. It предусматриes the development of a five-star hotel complex on a 100-stremma (approximately 100,000 sq.m.) site on Diaporos, the largest of the nine islets in the Vourvourou Bay and the only one that is inhabited.
The hotel will comprise 76 rooms, distributed across 13 single-storey villas, 13 two-storey standalone bungalows, and a central multi-purpose building.
The central building will host high-specification shared facilities, including restaurants, a retail arcade, a yachting club area, spa and wellness facilities, a gym, sports infrastructure, a playground, as well as additional spaces for cultural and religious uses. The project incorporates advanced technical infrastructure, such as energy autonomy systems, a reverse osmosis desalination unit, and facilities designed to ensure environmentally friendly operations.
The project will be financed through a combination of equity (23.69%) and bank lending (76.31%), with the final amounts per funding source to be determined upon completion of the investment. The total implementation period may not exceed 15 years from the issuance of the relevant approval decision, while completion will be certified through an on-site inspection and review of financial and technical documentation.
STANTA Behind Thessaloniki’s First Skyscraper
It is recalled that STANTA is also developing the historic Allatini Mills property, an abandoned industrial complex covering a total area of 81.2 stremmata, located at the southeastern boundary of the Municipality of Thessaloniki.
At this site, the provisions of Article 100 of Law 4759/2020 will be applied for the first time, allowing, by way of exception, the maximum permitted building height in the area to increase to 100 meters.
Within the property, the seven buildings that have been designated as listed monuments will remain, with their shells preserved as examples of industrial architecture.
Overall, the area will be transformed into a supralocal metropolitan hub with a total buildable area of up to 32,000 square meters, including residential units, social welfare facilities, cultural venues, administrative offices, public assembly spaces, conference centers, retail outlets, personal services, offices, dining establishments, cafés, leisure and entertainment venues, and tourist accommodation.