The launch of an important tourism development project in the island of Rhodes marks the completion of the agreement for the granting of the property in the South Afandou region.
The Executive Chairman of HRADF, Mr Aris Xenofos and the legal representative of T.N. Aegean Sun Investments Ltd, Mr Vasileios Nicolaides signed the agreement for the sale of South Afandou estate, followed by the financial closure of the transaction with the payment of a lump sum of €15.2 million.
According to the investment plan of T.N. Aegean Sun Investment Ltd. with a budget of €150 million, in the total area of 268.651,76m2, three new high-quality hotel complexes will be built, as well as a tourist -holiday village of 20 independent residences within the framework of the Special Plan for the Spatial Development of Public Real Estates (ESHADA) of Southern Afandou.
The SPA of the Golf -North Afandou was signed by HRADF and M.A. Angeliades Inc., while the financial closure of the transaction for a total consideration of €26.9 million, is expected soon.