IDM Capital’s Kalamata tourist Village Project enters public consultation

The project concerns Nika Bay, an investment by IDM Capital, and involves the development of an organized tourist resort complex at the “Bournia” site, on a seafront area of approximately 205,742.73 sq.m. on the western coastal front of Kalamata.

The plan includes the construction of a five-star hotel unit and high-end luxury residences, with a total built area of approximately 39,700 sq.m. In total, the project foresees the development of 140 hotel rooms and 248 residential units.

The investment, which participated in the Greek delegation at this year’s MIPIM international real estate exhibition, is estimated to reach €136.5 million.

The tourist complex will feature hospitality, dining, wellness and entertainment facilities. Among others, the development will include restaurants, cultural and relaxation spaces, sports facilities, and mild marine activities, as well as small-scale retail uses and organized communal green areas.

The project promoter, IDM KALAMATA Single-Member S.A., a subsidiary of IDM Capital established exclusively for the development and implementation of similar projects, is seeking the inclusion of the project under the provisions of Law 4864/2021 as a Category 1 Strategic Investment, as well as the provision of spatial planning incentives through the preparation and approval of a Special Spatial Development Plan for Strategic Investments (ESCHASE). At the same time, the company has requested that the fast-track licensing procedure be applied.

In addition, the company is requesting the use of Articles 5 and 6 of the same law, which provide for the granting of usage rights for the seashore and beach areas, as well as the implementation of the necessary supporting and auxiliary infrastructure works.

IDM Capital was founded by Pinni Sarfati around 30 years ago. In early 2013, the firm established a professional team with significant experience in the real estate sector, specializing in mixed-use developments, residential complexes and commercial projects in Manhattan and across the European market.

At the same time, the company is also active in the desalination sector, contributing to the development of sustainable solutions for the future. In 2010, the company decided to expand more actively into the development of renewable energy projects.