CLOSE
Loading...
12° Nicosia,
22 July, 2024
 
Home  /  News

Sheikh's $203M investment brings the Waldorf Astoria to Greece

This ambitious project in Porto Heli will host a five-star hotel, nine branded residences, and six luxury villas

Newsroom

Abu Dhabi's Sheikh Takhoun bin Zayed Al Nayan, known for his extensive investments in Greece since 2018, is set to mark a milestone with the construction of the first "Waldorf Astoria Hotel & Resort" in Greece.

According to a report in Protothema, this ambitious project in Porto Heli, with an investment exceeding 200 million euros, is managed by Scarlet Beach SA, a company under the Sheikh's International Holding umbrella. The 234-acre Petrothalassa area, cleared by GEK Terna, will host a five-star hotel, nine branded residences, and six luxury villas. The investment plan focuses on creating a luxurious tourist complex, including restaurants, pools, a wellness center, and sports facilities.

The hotel project was approved as a strategic investment, and it is expected to commence construction this summer. The Waldorf Astoria brand, a part of Hilton's executive line, will manage the hotel and holiday homes, aiming to attract high-net-worth clients. The total investment is 203 million euros, and the project is a significant addition to Porto Heli's luxury accommodations, complementing the "Amanzoe" resort.

Beyond real estate, Sheikh Takhoun has diversified his investments in Greece, including olive oil production. Through Olivian Groves, he owns extensive olive groves in Ermioni and Messinia, producing premium olive oils such as Hermioni and Hrysos. The sheikh's involvement in various sectors, from hospitality to renewable energy, highlights his multifaceted contributions to the Greek economy.

[Information sourced from Protothema.gr]

TAGS
Cyprus  |  Greece  |  Luxury  |  resorts

News: Latest Articles

X