BUSINESS

Big development project planned at ex-US base on Crete

TAGS: Privatizations

Crete is set to obtain its own Elliniko project, as the premises of the former American military base near Gournes in Iraklio is similar in type to the old Athens airport and state sell-off fund TAIPED takes its development plans to the final stage.

The special zoning plan has been submitted to the government for approval, which is expected in the next few days. It will be followed by consultations on the environmental impact study and then the announcement of the tender.

Investors from the US, Saudi Arabia, Israel and Croatia have already knocked on TAIPED’s door, expressing their willingness to invest hundreds of millions of euros in the plot’s utilization.

TAIPED’s plan will provide for the utilization of 350,000 square meters of the almost 738,000 sq.m. covered by the former US base until it was closed down in 1993.

The rest of the plot has already been occupied by state and private entities. Investors will be able to build up to two luxury hotels and some 80 holiday houses – similar to the plans for Elliniko.

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