The TEMES Group has announced the creation of ĒNSOFI S.A., a new parent holding company that will encompass the entirety of the Group’s portfolio and activities, marking a new phase of business development and strategic maturity.
The establishment of ĒNSOFI represents a structural transformation of the corporate architecture, reflecting the Group’s progress and expansion over recent years. The new structure aims to enhance the autonomy and flexibility of subsidiaries while maintaining coherence in the philosophy, vision, and enduring values that define the Group. Achilleas V. Constantakopoulos has been appointed Chairman of ĒNSOFI, and Farsin Walizadeh, a long-standing executive of the Group since 2007 with extensive leadership experience, assumes the role of CEO.
Unified Strategic Framework and Strengthened Corporate Governance
ĒNSOFI will function as a unified strategic reference framework, setting common directions and principles across all operations, with an emphasis on strengthened corporate governance. The new model enables faster decision-making, clearer role allocation, and allows individual companies to focus fully on their core activities.
The name ĒNSOFI derives from the three pillars of sustainable development: Environment, Society, and Finance, which have consistently guided the Group’s activities and investments. These pillars work complementarily and form the basis for the planning, implementation, and evolution of projects, aiming to create long-term value for local communities and partners.
Costa Navarino S.A.: Focus on Messinia
As part of the simplification of the corporate structure and to enhance the recognition of its individual operations, TEMES S.A. will henceforth operate under the brand Costa Navarino S.A., focusing exclusively on the Group’s investments and long-term development plans in Messinia. Costa Navarino S.A. will continue under the leadership of CEO Eugenios Dendrinou, maintaining its role as a key pillar of the Group’s development strategy.
Additionally, in line with unified management and further international positioning of Costa Navarino, TEMES and Consiltech—both 50% shareholders of Panorama S.A., owner and developer of Navarino Hills—agreed for Consiltech to contribute its stake in Panorama S.A. to TEMES. Upon completion, TEMES will hold 100% of Panorama S.A., while Consiltech will acquire a minority stake in TEMES (Costa Navarino S.A.).
Portfolio and Economic Footprint
Beyond Costa Navarino and The Ilisian, ĒNSOFI’s main subsidiaries include NYNN, as well as MALT Riviera and BELT Riviera, in which the Group retains a majority stake, developing investments along the Athens Riviera and at The Ellinikon. The portfolio also includes TVIC (holding company), minority stakes in Athens Beach Club and Stadio 2020, along with other activities.
A core element of the Group’s philosophy is the development of synergies with investors and operators who share the same vision. Today, ĒNSOFI collaborates with more than 80 partners who have invested in Costa Navarino and The Ilisian, developing services and experiences within the destinations.
ĒNSOFI’s activities employ over 3,500 people, and over the next decade, direct and indirect jobs generated by its projects are expected to exceed 20,000. According to a study by the University of Piraeus, the Group’s total economic impact on local communities over the same period is estimated to reach €10.5 billion.