The organization wishes to include the investment project in question in the provisions of Law 4864/2021 as "Strategic Investment 2, case bb" and requests the incentive of tax exemption and fast-track licensing (article 8 par. 2a and article 9, respectively, of Law 4864/2021).
The object of the investment project is the renovation of an existing hotel complex in Kallithea, Kassandra Municipality, Halkidiki, which extends over an area of 158 acres (850 meters of beach frontage) and consists of three existing hotel units: the 4* Pallini Beach (built 1972, last renovation before 2000), the 4* Athos Palace (built 1976, renovated 2005) and the 5* Theophano Imperial Palace (built 1976, renovated 2010), as well as bungalows and other facilities, i.e. restaurants, bars, swimming pools, meeting rooms, shops tourist goods, sports facilities, water sports, parking spaces, storage areas, etc. The total built-up area amounts to approximately 69 acres.
The plan
The proposed remodeling plan aims at the complete upgrade of all the existing hotel units and the creation of a single functionally ultra-modern tourist resort of high standards, consisting of 5* luxury hotel units, independent luxury apartments (bungalows) and integrated catering, spa and entertainment services. The new resort will have more than 1,000 keys.
In the forest area of 20 acres, N.A. of the complex, parks and recreational areas, a place of worship, an amphitheater and a playground will be created. The remodeling plan is expected to meet energy standards and sustainable development practices, while it will also contribute to strengthening the local economy.
The investment plan to be evaluated, with a budget of 107.65 million euros, is expected to employ more than 500 workers per year (full-time and part-time), which correspond to more than 300 Annual Work Units (E.M.E.).
