Next week will mark the beginning of a new plan concerning the utilization of government property. According to new information, the Hellenic Republic Asset Development Fund (HRADF) is expected to launch a call for expression of interest in purchasing real estate from the Greek state in the region of Kassiopi, Corfu.
The property size is c. 490 thousand sq.m, (120.83 acres), more than half of its area being covered by a private forest including a small natural lake. The exploitable area is approximately 178,000 sq.m. (44.06 acres). The property has a coastline border of around 725m.
According to the official website of HRADF, the real estate property is adjacent to the Kassiopi peninsula. Situated around 38 km from the town of Corfu, where an International Airport is located, the sea-front property is the latest privatization plan to be adopted.
The total number of foreign visitors on an annual basis exceeds 700,000, according to the Hellenic Chamber of Hotels. The majority of visitors come from Great Britain, followed by Germany and Russia.
The property, which is of great natural beauty, is located on a part of the island of Corfu that is largely unexploited. Considering the site’s location is in close proximity to very exclusive properties such as the Rothschild Estate, its development potential and thus implied value could be extremely high. The property is offered for exclusive use as well as for the development of an upscale residential complex, focusing on vacation homes and hospitality/leisure facilities. The HR intends to proceed with all required actions that will facilitate the exploitation and development of the land.
(Source: HRADF)
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