Grivalia Hospitality unveils new €280M investment in Megalonisos
Grivalia Hospitality unveils new €280M investment in Megalonisos
  Investments  |  Tourism  |  Hotels  |  Central Greece

Grivalia Hospitality unveils new €280M investment in Megalonisos

RE+D magazine

Grivalia Hospitality unveils new €280 million investment in Megalonisos, the largest island of the Petalia complex with a total area of 11,290,616 sq.m. which are located in the southern Euboea, and which are characterized as the Greek Malvidas.

According to the compay's relevant announcement, the investment refers to the establishment and operation of an ultra-luxury resort of very high standards, for the management of which, the company is in advanced discussions with an internationally renowned hotelier, who has no presence in Greece so far.

The resort will include a luxury hotel facility, restaurants, wellness and fitness areas, as well as a beach club, offering a wide range of particularly high-quality services to Greek and international visitors. In addition, the development of luxury branded residences is planned, whose owners will have the opportunity to enjoy privacy and luxury, combined with a comprehensive range of high-level hotel services.

All constructions will be implemented in an environmentally friendly way, with sustainable materials and with respect for local ecosystems and biodiversity, following a soft development model, which at building level will correspond to less than 8% of the total area.

The goal of Grivalia Hospitality is for the ultra-luxury resort to be the first hotel unit in Greece and one of the first worldwide to be fully autonomous in terms of energy. For this purpose, the installation of photovoltaic systems is foreseen to cover all the energy needs of the tourist unit, either directly or through the application of a net metering system. Also, in accordance with the environmental standards for organized tourist developments, the creation of all the necessary infrastructure is foreseen, such as a desalination unit, water supply and irrigation system, fire fighting network, lighting systems, road network, boat mooring, etc.

It is recalled that in the north-western part of the island, on a total area of 169,204.82 m2, there is the "Picasso" villa, which belonged until 2015 to Pablo Picasso's daughter, Paloma, and was reportedly sold to a company of interests of the David family .