RESOLVED THE ISSUES FOR THE EXPLOITATION OF XENIA, PALIOURI
After Ivan Savvides’ speach in the Greek Parliament, it seems that every obstacle has been overcome regarding the investment in complex Xenia Paliouri. Although the Russian shareholder of PAOK won the tender for the management of the hotel, in course emerged obstacles that stopped the reform of the enchanting region of Halkidiki.
Based on the latest news, by the end of this month the contracts for the development of the property and the surroundings on the shores of Toroni Gulf will be signed between the Hellenic Republic Asset Development Fund (HRADF) and the company of Ivan Savvides.
The investment involves an area of about 300 acres, where are the facilities of hotel Xenia. The hotel was previously a jewel for the region, but now the buildings stand deserted, almost in ruins, since they remained unused for decades. Of the 300 acres of the hotel, the 211 are exploitable under the development plan of the area.
Russian homogenous investor plans to construct a luxury hotel facilities. Their use - according to the tender - is already given for 99 years in the company with interests of Ivan Savvides.