ECONOMY

Foreign buyers eyeing Patroklos

The issue of the sale of Patroklos, an islet in the Saronic Gulf with a surface area of 2.6 square kilometers, is emerging afresh as well-informed sources suggest that a Canadian billionaire came to Greece last week and expressed an interest in its acquisition.

Interest in the islet off the Attica coast is also being expressed by Lebanese entrepreneur Antoine Maalouf, chairman and chief executive officer of the Meyers Management Consulting Group. Maalouf had also come close to acquiring Patroklos four years ago, producing letters of guarantee to the amount of $15 billion, but his efforts proved futile due to town-planning and bureaucracy limitations. However, the government?s desperate need for funds may change that this time.

Patroklos has recently featured on websites — some of them fairly dubious — advertising Greek islands for sale, with a price tag of 150 million euros. However, the islet?s land usage status remains unclear, hampering any acquisition efforts.