The total area of the ESHASE is 1,223.75 square meters and is located at the location "Xyloftes-Schinias-Tholos Kavousiou" in the municipality of Ierapetra Lasithi
The investment had been included by decision of the Interministerial Committee for Strategic Investments (DESE) in the regime of strategic investments as early as 2019.
A 5* Complex Tourist Accommodation with a total capacity of 1,044 beds and a tourist port facility will be built on the Area (Article 14A of Law 3986/11).
The Complex Tourist Accommodation includes the main building, two restaurants, a spa which will also constitute its special infrastructure, a gym, shared swimming pools, 189 hotel rooms, 136 residences of various sizes and a helipad.
The tourist port facility will have a capacity of 33 vessels.
The building factor will be 0.045 and the planned building is 47,000 sq.m. (non-countable ancillary spaces and facilities).
When joining the Strategic Investments, the Investment Plan was different and included a Holiday-Tourist Village with approximately 74 residences, a 5-star Complex Tourist Accommodation with 134 residences and 160 rooms, with a total capacity of 726 beds, two 5* hotels with a capacity of 370 beds, and 150 beds respectively, a helipad, harbor shelter for 33 tourist boats and an artificial beach with recreational facilities. The total area was initially 1,300 sq.m., the total construction 63,850 sq.m. and the building factor 0.05.
However, during the maturation phase, several characteristics of the investment were modified, to better adapt the investment to the unique natural environment of the area, but also because sections that belonged to a zone of archaeological interest were excluded, limiting the total area to 1,223.75 sq.
Its budget now amounts to 126 million euros.
