ECONOMY

Qatari investor buys big plot in Rethymno

A member of the Qatari royal family is said to have purchased a sizable plot of 100,000 square meters in Rethymno on Crete, after a visit to the popular destination during which he reportedly showed a particular interest in the area’s potential for tourism development.

Sources say that the Arab investor, who regularly visits Greece on vacation, expressed to local entrepreneurs his intention to find out about the potential for the development of combined investments that would include activities ranging from golf to hunting on the mountainous parts of Rethymno.

Although he did not specify whether he intends to proceed with the development of the plot he acquired at Adelianos Campos, a Rethymno suburb, it is considered very likely given the interest he has shown in tourism in the region. It is also possible that he may proceed with other investments in the same regional unit.

Rethymno has already seen significant investments this year, including by hotel groups Grecotel, Aquila and Rimondi Grand Hotels.