BUSINESS

Corfu hotel project at Erimitis gets go-ahead

TAGS: Property, Privatizations, Tourism

US firm NCH Capital has received the necessary approvals from the Economy Ministry for its investment plan concerning a five-star hotel it intends to develop in the Erimitis area of Corfu (pictured) and is hoping the construction license will be issued soon so work can get under way during 2019.

The timetable of the 120-million-euro project provides for the hotel to open in 2021.

State selloff fund TAIPED is also hoping to see the utilization of 350,000 square meters of land at Gournes, near Iraklio on Crete, through the development of a luxury hotel and holiday homes, next year.

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