The start of two major tourism and housing investment projects with a total value of 700 million euro is expected on Crete island next year. The projects will create 1,800 permanent jobs.
“Cavo Sidero” project in Lassithi, one of the largest tourism investment projects ever made in Greece targets the creationof a “Golf Village” in the first phase of the complex including a luxury hotel, a golf course with the necessary installations, about 100 villas and apartments and all the necessary water, access and environmental infrastructure. Construction of the tourist village is planned near Vai and the Monastery of Toplou.
The second phase will be called “Grandes” village and will have the similar infrastructure and will be followed by the third phase. The whole investment project will take about 10 years to complete, with the expected creation of 1,000 jobs during construction and 2,300 direct positions later.
The project will cover about 2,500 hectares and comprises six tourist villages with 7,000 beds and infrastructure, with buildings on less than 1% of the overall area.
The owners, Minoan Group (formerly Loyalward Group Plc), presented the project schedule and details to the Greek media at a press conference.