The investment of €41,712,326, excluding VAT, for the project “Diaporos Green Retreat: Energy-Autonomous 5-Star Tourist Development,” which has been included under the Strategic Investments framework pursuant to Law 4864/2021, is being implemented on the island of Diaporos in the Municipality of Sithonia, at the location known as “Korakia.”
The project provides for the creation of a five-star hotel complex comprising 76 rooms distributed across 13 single-storey villas, 13 two-storey autonomous bungalows, and a central multi-purpose building. The central building will house high-standard communal facilities, including restaurants, a commercial arcade, a yachting club area, spa and therapeutic service facilities, a gym, sports infrastructure, a children’s play area, as well as additional spaces for cultural and religious uses. The project incorporates specialized technical infrastructure, such as energy-autonomy systems, a reverse-osmosis desalination unit, and facilities designed for environmentally friendly operation.
For the implementation of the project, and beyond the siting incentive provided under Article 7 of Law 4864/2021—which allows for the preparation of a Special Plan for the Spatial Development of a Strategic Investment (ΕΣΧΑΣΕ)—the investment also receives the fast-track licensing incentive of Article 9. This incentive accelerates all procedures for approval, issuance, or modification of the required permits, ensuring speed and flexibility during implementation. In addition, the beneficial provisions concerning the concession of shoreline and beach (Article 5), as well as those concerning the construction of auxiliary and supporting works (Article 6), deemed necessary for the operation of the resort, are also applied.
The project will be financed through a combination of equity (23.69%) and bank lending (76.31%), with the final amounts from each financing source to be determined upon completion of the investment. The total implementation period may not exceed 15 years from the issuance of the relevant decision, while completion will be certified through an on-site inspection and examination of the financial and technical documentation.
STANDA behind Thessaloniki’s first skyscraper
It should be recalled that STANDA is also developing the historic Allatini Ceramics property, comprising an abandoned industrial complex with a total area of 81.2 stremmas, located at the southeastern boundary of the Municipality of Thessaloniki.
For this property, the provisions of Article 100 of Law 4759/2020 will be applied for the first time, enabling—by way of exception—an increase in the maximum permitted building height in the area to 100 metres.
Within the site, the seven buildings designated as monuments will be preserved, retaining their external shell as examples of industrial architecture.
Overall, the area will be developed into a supra-local, metropolitan-scale hub with a total building area of up to 32,000 sq.m., comprising residential units, social welfare facilities, cultural establishments, administrative spaces, public assembly areas, conference centres, commercial uses and personal services, offices, dining venues, refreshment areas, recreation facilities, entertainment venues, and tourist accommodation.
