ECONOMY

Construction groups confident of finding funding partners for hotels

construction-groups-confident-of-finding-funding-partners-for-hotels

An increasing number of construction groups, both Greek and foreign, are seeking to capitalize on foreign funds’ investment interest in the development of tourism infrastructure in Greece.

As the construction groups have completed the necessary paperwork and the planned projects are mature, the risk of years of waiting has been banished and investors are estimated to be much more open to putting funds into the development of new resorts in areas with considerable potential, such as eastern Crete and Halkidiki.

One such case is Porto Carras in Halkidiki, with the Stengos group close to securing funding of 50 million euros from Fortress Investment Group.