The two properties in Halkidiki, which was part of the privatization program of the Greek government via HRADF (Hellenic Republic Asset Development Fund), have so far followed completely different path. The property in Agios Ioannis, Sithonia, received the “green light” for its utilization, while the property in Paliouri, with the abandoned for many years hotel facilities and camping Paliouri, has found difficulties in proceeding.

Regarding Ag. Ioannis, Sithonia, the leading board of HRADF unanimously accepted the improved offer of John and George Mentekidis for 9.61 million euro for the exploitation of the total land (approximately 253 acres), thus completing the tendering process. According to the announcement of HRADF, “the exploitation will have significant and multifaceted benefits, since it is expected to implement an investment of 50 million euro, which will contribute to the improvement of the tourism product of the region, as well as provide a significant number of job positions”. The above company is well known for years in construction and real estate market in Northern Greece.

Regarding the property in Paliouri, while HRADF accepted the offer of Ivan Savvides’ company (14 million euro), for the use of the 210 acres, the court of auditors rejected it. “We expect the decision to be taken within a short while”, says HRADF member about the evolution of the above offer.