Greece Approves Russian Billionaire’s Makeover of “Onassis Island”

The Greek government approved the investment plans of Russian billionaire Dmitry Rybolovlev, for a major makeover of the historic island of Skorpios.

The Ionian island; once the private hideout of Aristotle Onassis, was bought by Rybolovlev in 2013, and since then it has been managed by his daughter Ekaterina.

The Rybolovlevs purchased the island from Onassis’ sole surviving heir; granddaughter Athina Onassis, for a reported 120 million euros.

The investment plans; with a total budget of more than 180 million euros, include the construction of facilities for hosting VIP guests.  Facilities such as the construction of luxury villas; spa; restaurants, and the upgrading of marinas and communications.

Minister of Economy, Dimitris Papadimitriou, said the approval of the plans highlights the fact that Greece has become friendly to foreign investment.

The island of Skorpios; which was bought by Onassis in 1962, is believed to have cost just 3.5 million drachmas, the equivalent of about 10,000 euros.

Six years later Onassis’ wedding to Jacqueline Kennedy; the widow of the late President John F Kennedy who was assassinated in 1963, took place on the island

After his death Skorpios was passed on to his daughter Christina; who died of a heart attack at the age of 37 in 1988, and then on to Christina’s daughter, Athina.


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