The final decisions about the development of Kassiopi in Corfu will be made on Thursday, at the board council of TAIPED. The board will examined the sole binding offer for Kassiopi, by American-interest firm NCH Capital.

The project involved a full tourist development of 400 acres and a shoreline of 725 square meters. The nearby private forest is exempt from development plans. The public will have access t the beach and lake.

This will be possible after TAIPED sells the shares of the special purpose company that it establishes, so that the owners can effectively own the land for 99 years. Should the offer be accepted, Kassiopi will be the third successful auction, after IBC (Lamda Development) and State Lotteries (OPAP).

At the same time, Paliouri of Halkidiki and 5 expropriated plots (for the purposes of commercial support) by the Attiki Odo are to be auctioned. Russian firms have been interested in Paliouri, since Halkidiki is the top destination for Russian tourists in Greece. The 211-acre plot includes camping facilities and the “Xenia” hotel.