Potential investors for the luxury Asteras hotel resort in Vouliagmeni will have until Friday to submit their binding offers, with about 13 companies having expressed an interest so far.
Amongst the potential investment firms are TEMES, Dogus, Dolphin Capital, Colony Capital, Fosun and AGC Equity Partners. While some bureaucratic issues have been resolved, such as the definition of archeological zones, others still persist. The greatest hurdle is to establish the special development plan on public land.
The Asteras resort is located on 304 acres of land, 111 of which belong to the State via TAIPED. A subsidiary of the hotel has also rented the neighboring 47-acre Vouliagmeni marina for 40 years. After a successful restructure and cost-reducing program, the hotel is expected to generate profit thanks to increased reservations.