Approval for the implementation of a major tourism investment in Argolida was given with the acceptance of the relevant Presidential Decree by the Council of State.
The development, which includes a hotel and holiday homes, will take place on a 217-acre seaside plot, where the Ermioni Club Hotel was located, and will amount to 26,100 square metres.
This is a €202.9 million investment by Scarlet Beach, a company owned by the UAE-based businessman Takhoun bin Zayed Al Nayan.
The investor is a member of the Emirate’s royal family.
The hotel will be a five-star hotel and will carry the Waldorf Astoria Hotels & Resorts brands, while the complex will also include furnished holiday homes, a tourist port facility, restaurants, bars, a beachfront entertainment area and a spa.
The approved plan commits the investor to take all necessary measures to achieve environmental objectives and mitigate climate change impacts in the project area, so that the complex can be certified as green. The building factor is thus set at 0.12 and the coverage factor at 12%, with a maximum permitted building height of 7.5 m for the villas and 10.7 m for the hotel.
The 15 villas will have a total built-up area of 12,000 square metres. On average, that is, each will have an area of 800 square metres. In particular, 9 branded residences will be developed within the complex and 6 luxury villas (exclusive villas) north of the hotel, in a specially designed area, which will be made available for sale and use.
