The project represents the first of a series of investment initiatives by Greek-American businessman Mr. Angelos Michalopoulos. It involves the development of a comprehensive tourism complex with a total capacity of 249 beds. The development will include a five-star hotel, furnished tourist residences, and a wellness and rejuvenation center. The investment has already been classified as a Strategic Investment under Law 4864/2021.
As officially stated, "The position of the Municipality of Iites regarding this particular investment—as well as any future ones—is that all terms and conditions outlined by the Technical Services must be met. These include rational urban planning, adherence to the island’s carrying capacity, and the protection of its landscape and coastal areas. The objective is to establish a clear and specific framework for sustainable development, safeguarding the interests of the local population, preserving the Cycladic character of the island, and ensuring a viable future for current and future generations."
The Municipal Council, by a significant majority (12 in favor, 1 against, and 2 absentees—one of whom, Mr. Voulgaris, expressed his support for the Strategic Environmental Impact Assessment (SEIA) in writing), resolved the following:
“In accepting the recommendation of the Technical Services, the Council cannot issue a positive opinion on the draft SEIA currently under public consultation until:
The development scenarios being prepared by the Spatial Planning Study (SPS) consultants, expected to be published by July 2025, are taken into account. This is necessary to avoid premature commitments that may affect the island’s overall primary planning framework, particularly with respect to several key local concerns.
The cumulative environmental, urban, economic, and social impacts—both of the current SEIA and those of the other two SEIAs—are reassessed. This includes evaluating how the combined developments affect the island’s productive model and the balance between residents and visitors, while also considering the number of employees required for all three developments and any resulting needs for additional construction.
A comprehensive and specific (regulatory) landscape protection plan is proposed by the project’s consultants and incorporated into the Presidential Decree governing the SEIA.
Interventions within Ios’s sensitive coastal island ecosystem, and particularly the bays of Maniata and Koumbara, as well as the islet of Diakofto, are reviewed in detail.
The Council also raised concerns about the legal consistency of the development proposal with existing legislation and jurisprudence concerning SEIAs and off-plan construction. Particular attention was drawn to the continuity of the land parcels involved in the project and the feasibility of the alternative development scenarios. Although such matters fall outside the formal jurisdiction of the Municipality’s Technical Services, the Council recommended they be reviewed by the appropriate state authorities to ensure the legal and institutional soundness of the investment."
Project Details
The investment concerns the construction of an integrated tourism accommodation complex.
The development plan includes two designated zones:
Zone A: Tourism and Recreation (T-R), with a total area of 273,051.14 square meters. This zone will allow for low-density development, with a floor-area ratio (FAR) of 0.05, equating to a maximum buildable area of 13,652.56 square meters. The area will host 20 furnished tourist residences and a 74-bed five-star hotel.
Zone B: Protected Area, with a total area of 292,786.44 square meters. This zone is subject to a special environmental and forestry protection status, which will be preserved under the proposed SEIA framework.
