Mitsi group's tourism investment in Elia, Mykonos in public consultation
Mitsi group's tourism investment in Elia, Mykonos in public consultation
  Investments  |  Tourism  |  Hotels  |  Aegean islands

Mitsi group's tourism investment in Elia, Mykonos in public consultation

RE+D magazine

The Special Spatial Development Strategic Investment Plan (SSP) of the Mitsi group's tourism investment in Elia, Mykonos will be in public consultation from Friday and for twenty days onwards.

An investment will take place in a field that spans 148,659.16 square meters above the beach of Elia, close to the settlement of Ano Mera. The project comprises a 5-star hotel building and luxury residences, covering about 12,890 square meters in total. 

The project is being operated by KORTIA HOTEL TOURIST CONSTRUCTION AND COMMERCIAL S.A., a hotel tourism and construction company that is a member of the Mitsis Hotels Group. 

 The proposed construction under consideration is a "Tourist Complex" that will include: - Subzone A with a maximum construction area of 11894.5 square meters and a building coefficient of 0.2. 

- A 5-star hotel unit (villas & residences) with approximately 194 beds, which has been approved with the no. 80/15.09.2022 DESE DECISION (Government Gazette 5443 B' 21.10.2022) A, deviating marginally from the approved 150 beds. 

- Supporting functions such as reception, restaurants, refreshments, entertainment areas, accommodation/event spaces, spa & rejuvenation infrastructure. 

- Accompanying projects such as asphalting of roads, construction of paths, parking, entrance & administration area, and installation of Biological Cleaning, etc. 

- Subzone 2 intended for the development of Houses with a total construction of 1050 m2: SD 0.02, which will concern the construction of houses located in an area between 50-100m from the sea line, while approximately 200.00 sq.m. in accompanying tourist facilities. 

The initial investment budget for the project is over €61 million, and its development is expected to last two years.

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It appears that 2024 will be a crucial year for the Grivalia Project, a €120 million hotel project in the Kalo Livadi area of Mykonos. 

The project was initially halted by the Council of State, but the company has since submitted a redesigned plan with fewer beds and changes to access points. The company claims that the new design will blend in seamlessly with the environment and meet international sustainability standards.

The new "Mykonos Resort" project will be built on the island by domestic and foreign investment funds, primarily of Arab interests, and will cover 219 sq.m. The initial budget for this sustainability-based project is over €103 million. 

It will feature a 5-star hotel, 14 furnished residences, a conference center, dining facilities, sports facilities, a wellness center, and commercial facilities. The AGC Partners' tourism interest project, located in the Kalo Livadi area, is finally moving forward after the CoE cut off the "Blue Iris" Project due to the Municipality's appeal against the size of the marina. 

The investment will focus on building a 5-star hotel with 192 beds, a sports center, a wellness center, an open-air theater, an event space, and shops. Building facilities, such as offices, shops, and restaurants, as well as a swimming pool and a promenade, are also planned for the land area.