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Crete expects 2 million tourists this year
https://www.ekathimerini.com/economy/1158601/crete-expects-2-million-tourists-this-year/
“Crete has always been one of the flagships of Greek tourism and in the unprecedented crisis of the coronavirus, it managed to keep its reputation at a high level and to offer high quality services to the tourists who visited it last summer,” Greek ?ational Tourism Organisation (GNTO) secretary general Dimitris Fragakis said in an interview with the Athens-Macedonian News Agency (ANA) released on Sunday.
I admire your loyalty Bigwell but as normal it doesn’t pay the bills and it will be an interesting few months to see what is going to happen with Mr Gilbert’s loan hence 1.15p
Courtesy of Waterloo and Nobbygnome's posts on advfn ( continued)
The above "translates" into changes in the design of the investment, in order to meet the above demand in the best possible way. For this purpose, in fact, one of the four major auditing companies has been hired as a consultant, and in particular its department that has extensive experience in the tourism sector, in order to make the necessary improvements to Minoan's business plan. Already, the final reformed plan is nearing completion.
According to the report, Minoan executives note that this new plan will significantly enhance the value of the project and will attract additional interest from potential investors. It is recalled that the company is already in negotiations with several interested investors, who will undertake to co-finance and develop parts of the area of ??25,000 acres. This will happen either through the direct assignment of the right to exploit parts of the area or through the establishment of joint ventures for the joint development and operation of individual infrastructures, such as e.g. the golf course or hotel, or even part of the residential complexes provided.
Minoan, which is known to have leased the 25,000 acres in Cape Sidero from the owner of Toplou Monastery for 40 years (with the right to renew for another 40), says it is also proceeding with a series of studies to speed up the publishing process. of the final permits required to start the project, which dates back to the mid-1990s, when the relevant tender for the exploitation took place. Therefore, once the preferred partners are selected, the time it will take for the work to begin will be as short as possible.
Courtesy of Waterloo and Nobbygnome's posts on advfn:
https://sitia-news.blogspot.com/2021/04/blog-post_636.html
A translation of the article....
Toplou Monastery: British investors "bet" on luxury homes
https://s1.neakriti.gr/images/1542x770/files/2020-11-03/moni_toplou_ependites.jpgSigns of "life" from the British investors of Toplou Monastery, who turn to fewer but larger houses in the project "Itanos Gaia"
Signs of "life" and mobility, with a change of course in individual characteristics of the much-discussed investment in order to attract more investors, on the part of the British investors of the Toplou Monastery in Sitia ...
The British Minoan Group Plc., Which has the investment portfolio of the ambitious tourism project "Itanos Gaia" in Cape Sidero, continues to have at this stage as its "spearhead" part of the entire project related to tourist homes. However, according to central reports, it has decided to turn to fewer, but larger and more luxurious homes, considering that it is the element that has the most impact in the current conditions, always in connection with the COVID-19 pandemic, which has strengthened the search for private, remote space.
This sketched turn of the British investors of the Toplou Monastery into fewer but more luxurious residences inside the organized tourist complex "Itanos Gaia", which is planned to be implemented in Cape Sidero, is not surprising.
A few months ago we wrote here in "NK" for the reasoning of the British company that lived on its part that in the midst of the pandemic it saw - and obviously continues to see - a great opportunity for its much-discussed investment project.
What is this opportunity? That, due to the new conditions that have been created with the pandemic, the interested buyers of tourist houses or the interested clients-visitors start and turn to options that offer greater isolation and therefore security. That is, characteristics that will govern the investment in Cape Sidero or any parts of it that will be promoted faster, obviously referring to the part of the tourist residences that will attract a large number of Europeans.
Regarding the turn made by Minoan Group Plc. in smaller but larger and more luxurious houses, in the context of the ongoing investment for the construction of the organized tourist complex "Itanos Gaia" in Sitia, "Kathimerini" reports that, according to the management of the company, which is listed on the AIM market. According to London, "the company continues to make progress on a number of issues related to the planned changes in demand, as a result of the diversification of the needs of potential buyers and the coronavirus pandemic." In particular, as it is typically emphasized, "many of the changes we see in the market relate to the very significant increase in demand for private space, which seems to be one of the dominant trends, especially in the category of the upper segments of the holiday home market." Continued
Courtesy of Waterloo's posting on advfn:
https://www.kathimerini.gr/economy/561312928/megalyteres-katoikies-apo-ti-minoan-group/
Larger homes from the Minoan Group
megalyteres-katoikies-apo-ti-minoan-group
Based on the terms of urban planning, the coverage of the plot will not exceed 0.5% of the area, ie 108,000 sq.m. which will concern hotels and tourist residences.
Nikos Rousanoglou
01.04.2021 • 07:33
Minoan Group Plc is turning to fewer, but bigger and more luxurious homes. regarding the ongoing investment for the construction of the organized tourist complex "Itanos Gaia" in Sitia, Crete. This is an investment of 270 million euros, which concerns the development of 25,000 acres, owned by the Toplou Monastery, in the area of ??Kavo Sidero.
According to the management of the company, which is listed on the AIM market in London, "the company continues to make progress on a number of issues related to the planned changes in demand, as a result of the diversification of the needs of potential buyers and the coronavirus pandemic ». In particular, as it is typically emphasized, "many of the changes we see in the market concern the very significant increase in demand for private space, which seems to be one of the dominant trends, especially in the category of the upper segments of the holiday home market." The above translates into changes in the design of the investment, in order to meet the above demand in the best possible way. To this end, in fact, has been hired as a consultant by one of the four major auditing companies and in particular its department that has extensive experience in the tourism sector, in order to make the necessary improvements to Minoan's business plan. Already, the final reformed plan is nearing completion.
Minoan executives note that this new plan will significantly enhance the value of the project and will attract additional interest from potential investors. It is recalled that the company is already in negotiations with several interested investors, who will undertake to co-finance and develop parts of the area of ??25,000 acres. This will happen either through the direct assignment of the right to exploit parts of the area or through the establishment of joint ventures for the joint development and operation of individual infrastructures, such as e.g. the golf course or hotel, or even part of the residential complexes provided.
It is reminded that, based on the approved urban planning conditions, the coverage of the plot will not exceed 0.5% of the area, ie 108,000 sq.m. which will concern hotels and tourist residences. It is planned to develop accommodation facilities with a total capacity of 1,936 beds and an 18-hole golf course. The project is estimated to create 1,200 direct jobs. The land has been leased by Minoan for a period of 40 years with the right to renew for another 40 years. The owner is Toplou Monastery.