1INVgolf - Invest in Golf  

Home Page

Opportunities

About
Newsroom
Disclaimer


E-mail
Copyright © 2003-2008
INVgolf
All Rights Reserved

"We all agree that for
the differentiation of Greek
tourism we need major
investments in special
tourism, like golf and
marinas." --
Stavros Andreadis,
Chairman, Association
of Greek Tourist
Enterprises (SETE);
President, SANI SA,
Greece

 Click to Visit

Golf courses, golf resorts and master-planned residential communities in Greece

Without golf, Greece is 'handicapped'...


Glyfada Golf Course

Golf swings into play in Greece

Major golf resort, residential and master-planned communities are getting underway in Greece...
[] [more...]

Speaker's corner

"We would like to have over 20 golf resorts in place within the next five years. We're making the process of getting licences and permits easier and we’re accelerating several specific projects that hit bureaucratic obstacles." -- Peter Doukas, Greece's Deputy Minister of Economy and Finance, and President of the Hellenic Golf Federation. An ardent golfer, he says that in the past year, almost 40 Greek and international investor groups have submitted proposals to build golf resorts (Financial Times, June 21, 2005); asked how he would describe the potential for investment and growth in Greece, "In a word, tremendous, and I believe we are at the beginning of a serious phase of investment. Probably the best business paradigm for golf development is one where an investment in a course is combined with a real estate project such as homes, hotels or apartments. Golf is perhaps the ideal vehicle to combine the expertise of foreign investors with the local experience of domestic partners."

"It is inexcusable for a country like ours with an exceptional climate, a rich culture and varied inland scenery to have a tourism period of four or five months. Our goal is for Greece to be a destination all 12 months. We can achieve this by attracting high-income tourists who can afford much more than the sea-sun-sights combination, and we can offer that." -- Dimitris Avramopoulos, Tourism Development Minister, Greece; he and other senior officials or businessmen in the tourism industry believe that a largely untapped potential for development exists in integrated resort complexes, combining health tourism (thalassotherapy, spas, beauty parlours, rehabilitation facilities), conference centres, marinas, residential tourism (real estate sales or leases, including group retirement schemes), casinos and golf courses

"We are pretty confident that the new government in Greece is keen to encourage inward investment and will give us a fair hearing when it comes to deciding on environmental permitting and planning permission for the scheme" -- Christopher Egleton, Chairman, Minoan Group PLC, United Kingdom (Daily Telegraph, June 19, 2005), developers of the Cavo Sidero resort complex on the island of Crete; valued at EUR 1.2 billion, the investment will be the largest single tourism project ever undertaken in Greece. In an interview with ELKE, Egleton said: "For tourism, quite frankly, Greece has everything. The Greek people are the most hospitable in Europe, the food is great, and Crete has the longest European summer. And because Greece is the foundation of Western Civilisation, we are innately tied to its culture."

"If you are careful, the golf course and its surroundings can help conserve windflower varieties and insect life that would disappear if the site was used for grazing or cultivation." -- Mark Potiriadis, a Maroussi, Athens-based architect who is currently in the process of developing an 18-hole golf course with residential housing on a 60-hectare site at Kilada Hills in the Eastern Peloponnese (Financial Times, June 21, 2005)

"We want to respect the land. It is not just being sensitive, I believe it is also good marketing and sound business, because that is what our guests will want too." -- Achilles Constantakopoulos, Managing Director, T.E.MES. SA, which is developing Navarino Resorts, a vast tourism and golf resort in the Messinia region; after many years of patient planning, the group hopes to open the tourism and leisure project in 2008

"Why did I invest in Greece? Because I love Greece, it will be the most important market for golf tourism in the Mediterranean area in the next ten years. Our project includes two golf courses, a five-star luxury hotel, bungalows, a conference centre, health spa and marina." -- Johann P. Bachmann, CEO, Swiss Golf Invest AG, developers of the 27-hole Golf of Zante golf resort on the isle of Zakynthos

"Golf travellers want half dozen top class courses within a couple of hours' drive from a tourist centre. If Greece can build several clusters of courses, it has the scenery and climate to become a world-class golf destination." -- Roddy Carr, Vice President, Director of Tourism, IMG Consulting; former Irish international golfer (Financial Times, June 21, 2005)

"Crete is blessed with stunning landscapes, unique environment and natural beauty, hospitable people and rich history, mythology and culture. These are excellent ingredients for developing quality tourism with upscale resorts of unique character that could help Crete to stand out and be placed on the top of the list of quality tourist destinations in the world, attracting high-income level clientele from around the globe. With the above in mind, Emerald has secured, on the south coast of Crete, a charismatic piece of land -- 160 hectares -- on one of the best beaches of Greece, where it is planning an integrated quality resort of exemplary high standards. With an investment of over EUR 310 million, the resort will consist of two 5-star luxury hotels, two spa facilities, a conference centre, an athletic centre, a village hub, etc. and substantial luxury real estate." -- Photos Ja. Photiades, Chairman, Emerald Developments SA and the Photos Photiades Group of Companies, Cyprus

"As we all know, in a country like Greece where golf is not played, the success of a golf club is directly associated to having other amenities directly associated with it. A golf resort with a 5-star hotel is required to be interlinked with a well-planned and designed residential development as well as other attractions that will make golf viable in Greece." -- Napoleon Tsanis, Chairman, Albatross Developments & Investments, a Greek-Australian company that has focused on golf developments in Greece, and is currently managing the development of a new golf and residential development in Margariti, near Igoumenitsa in the Prefecture of Thesprotia

'"Greece is becoming a big tourist destination for all the countries in Europe and one thing it lacks is golf courses, and as you know, South Africa is a golfing destination and could help us develop these, which will attract substantial tourism." -- John Economides, Greek Ambassador to South Africa

"You can't have high-quality, year-round tourism in Greece without huge investments in golf courses with sprawling luxury villa resorts around them. But for such multi-million investment projects to materialise, we need bolder subsidies and a different land-use legislation than the ones that usually hinder such business initiatives in Greece." -- Dr. Michael Vranas, a lawyer and hotelier by profession; Chairman, The Crete Golf Club; co-owner of Robinson Club - Lyttos Beach, Greece; he has been the visionary moving force in opening the way for The Crete Golf Club in Hersonissos and the new era of golf development in Greece

'The Challenge of Golf Development in Greece':
"This government doesn't care about the game of golf -- as a sport for the people or as a revenue producer via tourism. And the Greek people don't have an understanding of what the game can do -- either for them as individuals or for the economy of the country. Certainly there is the new development in Crete. It's excellent this has happened. But this is down to a group of local hoteliers with inside knowledge and local influence being able to push through a project specifically to suit their needs. And please remember without these two -- inside knowledge and local influence -- nothing is going anywhere. Yes there is the redevelopment of the Porto Carras golf course as a part of Technical Olympic's plan to renovate what is a wonderful resort. And believe me the golf course development is now well worth a visit. But these are no swallows that mean summer is coming. These were done deals, part of local agendas and foregone conclusions. The current attitude to golf in this country -- and I'm talking government and local authorities -- is currently at best stagnant and in many areas in a state of negative equity. Look at the Rhodes golf course -- this has been owned by the government for the past quarter of a century -- must now be in such a state of disrepair (and it is a very good layout) that it probably needs a rebuild as an option to make it publicly acceptable. Here in Athens, the Glyfada golf course has steadily declined in both condition and numbers over the last five years -- a case of zero investment by the municipality. Corfu is a fabulous venue. If you haven't played it you should -- it's a place of rare beauty -- but it is drifting slowly into physical decline through lack of investment. The next speaker -- Tim Hill (and please, I'm not speaking for him or his company [Loyalward]) -- is involved in a very exciting development on Crete. And as a development it is exactly the kind of vision this country needs. Certainly it will happen. His company Loyalward are pro-active, successful and have the resources to do the job, but they haven't started building yet, as they have ploughed through the miles of red tape and obstruction that go with the building of a golf course in this country. So, again, I say that for anything to happen regarding a development strategy for course building in this country, there needs to be movement at government level -- and I mean more than just words and good intentions." --
Alan Egford, a Class "AA" Professional Golfer, who over a 27-year career has worked all over Europe, covering every aspect of golf, from regular professional services, as an International coach, as a resort course Director of Golf and course manager, through to course designer and developer; speaking at the 2003 European GOLF Investment & Real Estate Conference & Exhibition in Athens on November 28, 2003

"There is definite growth potential for business both to Thessaloniki and Greece [...]. The Olympic Games have pushed Greece more firmly into the limelight. This has enhanced existing public awareness of the charms and beauty of the country, broadening its appeal to all..." -- Reto Wittwer, President & Chief Executive Officer, Kempinski Hotels & Resorts

'Changing Greece's Planning Laws to Facilitate Real Estate Investments Associated with Golf and Tourist Accommodation':
"As Greece has no clear land usage codes, or plans, getting Land Clearance is the major hurdle and stumbling block for Greek Developments. Land Clearance, or 'Proengrisi Horothetisis,' as it is known in Greece, is where the Greek Government should focus in order to assist with developments... Making it more difficult for Greece is the fact that the land of the size required for a Golf Development, would have already been assigned as 'Forest Area,' or 'Special Protection Zone' under the NATURE 2000 initiative of the European Union. Failing that, it would be an area of Archaeological importance. This brings the investor to the three major clearances required to proceed with any land development... Of the most importance are the NATURE 2000 areas as the Presidential Decree has not been structured and voted on and hence confusion reins, as departments are reluctant to take a stance or decision and are more prevalent in telling an investor that such a development is 'not permissible' in that area." -- Napoleon Tsanis, CEO and President, Albatross Investments and Developments, speaking at the 2003 European GOLF Investment & Real Estate Conference & Exhibition in Athens on November 28, 2003

"The bureaucracy of the Greek system is as difficult if not more difficult than any place else in Europe... Golf is a tourism driver, year-round tourism... Many Greeks don't see yet the mutual benefit of having several courses near each other. They need to bring in business, need infrastructure, like bars, restaurants, hotels. When we were building the Crete course in the winter, I couldn't find breakfast anywhere. In Portugal, the pubs and clubs are open in December." -- R.A. Hunt, PGA Design Consulting, United Kingdom; PGADC designed the brand-new Crete Golf Club in Hersonissos, the island's first 18-hole, par-72 course and one of the only desert-style courses in Europe, featuring misty mountain horizons and even olive trees as hazards [read the full article in Insider Athens - October 2003...]

"We are all very enthusiastic about the composition of our new board of directors. We are setting ambitious goals concerning the development of golf in Greece and the elevated performance of our national squads." -- Peter G. Doukas, President, Hellenic Golf Federation and Deputy Minister of Foreign Affairs, Greece, commenting the new Board of Directors of the Hellenic Golf Federation, which was voted in on December 15, 2004 

"In 2005, other projects will come into focus and golf development may finally gain some momentum... A mini-boom for golf might occur in 2006 and 2007." -- Tom Johnson, Tom Johnson Golf Design, a U.S.-based international firm specialised in golf course architecture with two Greece-based projects currently on the drawing board [read the full article in Insider Athens - October 2003...]

Teeing off in Greece':
"For Greece it would be the factor of the sun and particularly as a 'winter sun' holiday destination. As such the core months of November through to April are key. Golfers do not wish to play in the full heat of Greek summer... 65 million Europeans will be retiring full-time to Southern Europe. Approximately 9 million will retire in Greece. And we expect approximately 1-1.5 million retirees [to] be settling in Greece in the next 5 years."
-- Dr. Stratos Papadimitrou, former Chairman, Hellenic Centre for Investment (ELKE), speaking at the 2003 European GOLF Investment & Real Estate Conference & Exhibition in Athens on November 28, 2003

"Greece needs to build on the positive impact from the Olympic Games and rebrand itself from a sea and beach resort. Promotion strategies need to be developed in order to showcase Greece's comparative advantages as a tourist destination, inter alia, targeting the crucial US market as well as fast-growing China... However, in order for Greek tourism to achieve a sustainable growth over the long run, several important challenges need to be addressed, as price competitiveness continues to deteriorate faster than the upgrade in the quality of offered services, a fact that even a 'marketing revolution' cannot overturn for long." -- National Bank of Greece SA (NBG) research report, June 2005. The NBG report sees arrivals in Greece rising by 7.5% year-on-year, topping 13.5 million in 2005 and 14 million in 2006. Spurring the sector's long-awaited rebound was a new promotional campaign the government has launched, and the legacy of investment and success from the 2004 Athens Olympic Games, which is estimated to bring 1.4 million extra tourists in the coming years, offsetting lower competitiveness of the Greek tourism product in terms of prices.

"Greece's real estate market was dormant for many years, mostly due to dissuasive legislation. Now that laws have become more welcoming to real estate development and investment, there are many opportunities in the market." -- Peter Mihalos, Founder, DTZ Mihalos SA, Greece

"Even though I believe the sea is Greece's primary attraction for most visitors, I certainly think that we should have a complete range of offerings, including more golf courses, eco-tourism, spas and health centres, sailing and yachting holidays, and of course congress and conference tourism." -- Professor P.G. Pavlopoulos, Director General, Research Institute for Tourism (RIT, also known as ITEP in Greek)

"Opportunity is missed by most people because it is dressed in overalls and looks like work." -- Thomas A. Edison

"The signs we are beginning to see regarding the government's resolve to attract investment by eliminating bureaucratic roadblocks are encouraging, but it will take real and sustained improvement to overcome what I still believe is a healthy dose of skepticism on the part of many potential investors. My neighbour and friend recently had the opportunity to play golf at the Afandou club in Rhodes while visiting his family there, and was telling me that there must be something very fundamentally wrong in order for such tremendous potential to remain largely ignored..." -- E-mail recently received from one of INVgr's subscribers [name withheld upon request]

[Top of Page]

Can Greece tee off?

Developers, investors, managers and operators of golf courses and resorts have been told at a November Athens conference [INVgolf's 2003 European GOLF Investment & Real Estate Conference & Exhibition] what an estimated 61 million golfers around the world already know -- that business is booming and is set to continue doing so. This comes at a time when Greece is looking to attract investors into its fledgling golf industry to create new golf resorts and extend tourism beyond its current sun and sea destination image into a more lucrative all-year-round sector.

Big business

Golf and related businesses in the United States, the world’s leading market with an estimated 40 million golfers and 17,000 golf courses, accounts for about 6% of Gross Domestic Product, coming in above gambling, motion pictures and mining.

It's also big business in the European Union. Europe has an estimated 8 million golfers playing at 6,500 golf facilities, with Britain, France, Germany and Sweden accounting for 69% of all golf courses and 67% of all registered players. The number of European golfers is growing at about 7% annually, with Norway currently the fastest-growing market.

Golfers also tend to be higher-end tourists, spending more, while a range of complimentary services and businesses, in addition to golf courses, prosper form the millions of golfers, their spouses and families, who take golf-related holidays. The proportion of regular golfers taking golf holidays ranges from 25% in the UK to 50% of Germans, with both groups favouring sunshine destinations such as Spain and Portugal.

The harsh reality for Greece, however, is that most existing golf courses are lacking and unattractive to potential overseas visitors when compared to top notch European courses, and Greeks -- without a Tiger Woods or Seve Ballesteros -- have little interest in one of the world's most popular sports. [full story...]

[Top of Page]

Reliable, well researched and legally/financially sound hospitality and residential tourism investment opportunities in Greece

Here are a few examples of reliable, very well researched and legally/financially sound master-planned golf, resort and residential community development and investment opportunities in Greece that INVgolf would like to recommend to international investors in the hospitality, leisure, entertainment and real estate sectors:

  • PELOPONNESE: West Coast (2 International Airports nearby)
    PRIVILEGED LAND OF OVER 250,000 m2, at a distance of 1,200 metres from an 'endless' sandy beach. According to special legislative regulations, the obtainable percentage of construction coverage may reach 54,000 m2 and makes this land very profitable for the construction of holidays homes and beach resort hotel/hotels.

  • PELOPONNESE: West Coast (2 International Airports nearby)
    RARE LAND BY THE SEA, 42,000 m2, within the urban development zone. Up-market hotels and villas. Preliminary feasibility study for the construction of a hotel complex is available.

  • PELOPONNESE: West Coast (2 International Airports nearby)
    UNIQUE LAND BY THE SEA, 4,500,00 m2, of which 1,200,00 m2 are sandy, golden beaches, 2,100,000 m2 of forest and 1,200,000 m2 of virgin territory. Multiple possibilities for hospitality/tourism exploitation and development as well as golf courses (there is plenty supply of water). For sale in whole or in part.

  • CEPHALONIA: (1 International Airport nearby)
    SEASIDE LAND, 63,000 m2, with a possibility for expansion, near a central touristic area, ideal for luxury villas, hotel and holiday homes.

  • CORFU (1 International Airport nearby)
    BEACH HOTEL COMPLEX of about 250 beds, under construction.

  • PELION (near Volos) (1 International Airport nearby)
    SEASIDE LANDS of a) 55,000 m2 plus b) adjacent 14,000 m2, total 69,000 m2, suitable for tourist exploitation and development. Hotel and holiday villas, preliminary study available.

  • CRETE (2 International Airports nearby)
    UNIQUE LANDSCAPE of 2,500,000 m2 close to a developed and well-known tourism resort area. The land is suitable for golf courses (there is plenty of water supply). Holiday villages, hotel or hotels and other tourism resort or rural investments.

If you wish to receive information on these and/or other exciting investment opportunities in Greece, please contact Peter Michel Heilmann, Founder & Director, INVgolf.

[Top of Page]

Time for teeing off in Greece

This special English-language section contains comprehensive information and business intelligence on Greece's current golf courses and resorts as well as other courses in the works or rumoured. It aims at providing up-to-date data, facts and views on the business and investment opportunities surrounding golf development and golfing in Greece.

Please note that references made to "BF" are quoted from the following two publications:

  • Business File , a survey of the Greek tourism industry by Robert McDonald, March 2003

  • Business File - "Building blocks," special survey no. 41, October 2001

Business File is a quarterly, English-language publication each issue of which analyses a different aspect of Greek industry or business. They are independent, editorial surveys of some 30,000 words, researched and prepared by Robert McDonald, a London-based freelance writer and broadcaster with more than 35 years' experience of Greek public affairs. He is also the contributor to the Economist Intelligence Unit's quarterly Country Report: Greece.

INVgolf, organisers of the 2003 European GOLF Investment & Real Estate Conference & Exhibition in Athens, Greece and the INVgolf Investment Forum 2005 in Antalya, Turkey, has negotiated a special arrangement with Kerkyra Publications Ltd., publishers of Business File, that allows registered premium content users to subscribe to Business File at a special discount. For further information or to receive details about how to obtain a subscription, please contact us.

[Top of Page]

[Top of Page]

BF: In the euphemistic jargon of the tourism industry, Greece 'does not have a fully developed golf culture'. Greece currently has only four 18-hole courses -- one each in Athens (Glyfada Golf Club), Rhodes (Afandou), Corfu (Corfu Golf Club) and the Chalkidiki peninsula (Porto Carras) -- and a nine-hole course on the island of Crete (Elounda), which is more of an outsize pitch and putt than a golf course, with the longest hole being 140 yards, playable with a seven iron. The Crete Golf Club, a new 18-hole, par-71 course, opened in July 2003 near Heronissos, a tourist centre 24 km. east of Heraklion on Crete.

The Association of Greek Tourist Enterprises (SETE), in its study Greek Tourism 2010: Strategy and Goals, published in 2002, argued that by the end of the decade the Greek tourist industry should be targeting 19.4 million arrivals and receipts of USD 15 billion -- respectively increases of 32% and 48.5%. Such growth would only marginally increase Greece's share in the European market share from 3% in 2000 to 3.68% in 2010 and in the world from 1.87% to 1.92%.

To support such growth, the study argued, the sector would have to invest in 128,000 new hotel beds, which will contribute to the improvement in quality of Greek hotels, and increase its stock of up-market ancillary services to 45 golf courses, 15 autonomous conference/congress centres, 24 thalassotherapy centres and 42 marinas. "These goals," the study concluded, "are ambitious but not unattainable" -- particularly in light of the potential legacy of the Athens 2004 Olympic Games.

INVgolf: Golf has never been, to adopt a phrase, a very Greek cup of coffee. SETE, in its study Greek Tourism 2010 - Strategy and Goals, underscores the importance of "special tourism" (golf, retirement, thalassotherapy, conference, residential, theme parks, etc.) in any long-term strategy for the Greek tourist industry.

Addressing a parliamentary committee on production and trade on May 25, 2004, Dimitris Avramopoulos, the Minister of Tourism Development, announced government plans to bring tourist arrivals up to 19.5 million a year (from the current 13 million) over the next decade, while raising tourist revenues to 34% of GDP.

Furthermore, Avramopoulos said Greece's top priority was to include tourism in the new European constitution so that it will become one of Europe's developmental policies. For Greece in particular, he said the ministry's goals included the creation of 150,000 jobs in tourism over the next 10 years, increasing tourism's contribution to GDP to 34% by the end of 2013 and boosting investments by making transactions simpler as well as opening up new markets such as China, Japan and India.

Tourism is a key constituent of the Greek economy. Greece's shipping industry contributed 7.1% to gross value added in 2003, compared to 8.1% for tourism and 12% for manufacturing, according to the Union of Greek Shipowners. According to WTO estimates, Greek tourism revenues in 2005 are forecast to rise by 11.5% to EUR 31.7 billion. In its 2005 report, the World Tourist Organisation forecasts that Greek tourism will grow at an average annual rate of 4.1% till 2015, with revenues reaching EUR 60.3 billion over the next 10 years. Furthermore, the WTO forecasts that in 2015, 20.8% of local employment will be linked to tourism (from 18% currently), while investments of the sector will represent 10.7% of total Greek investments.

In its 2005 market report, state-run National Bank of Greece SA (NBG) said tourism's contribution to growth of the domestic economy will be about 0.9% in 2005, up from 0.5% in 2004. The sector contributes 16% of the country's gross domestic product and 18% of employment. Greece ranks 15th globally in terms of tourism arrivals, which totalled nearly 13 million in 2004, 90% of which came from European countries, NBG said.

Avramopoulos announced the new name of state-owned Hellenic Tourist Properties SA (ETA), which is now officially called Tourist Development Company SA (see below), and highlighted the importance of reverting to Greece's former regime for managing and making use of state-owned properties.

[Top of Page]

ATHENS (ATTICA)

Glyfada Golf Course - "Konstantinos Karamanlis"

Glyfada Golf Course - "Konstantinos Karamanlis"
Address: Terma Pronois Street (K. Karamanlis Avenue), GR-166 10 Glyfada, Athens, Greece
Mailing address: P.O. Box 70034, GR-166 10 Glyfada, Athens, Greece
Tel.: +30 210 894 6820, +30 210 894 2338
Fax: +30 210 894 3721
E-mail: info@athens-golf.com
E-mail: glyfgolf@hol.gr
URL: http://www.athens-golf.com/
URL: http://www.glyfadacity.com/en/news/index.asp?id=60
President: Stylianos (Stelios) Sfakianakis, Mayor of Glyfada
Vice President: Giorgos Parayios
Manager: Kostas Karayannis
Assistant Manager: Barbara Kalothetos
Holes: 18
Par: 72
Metres: 6,189
Design: Don Harradine ("Harradine Golf")
Other details: Year-round lay-out

Glyfada Golf Club of Athens (GGCA)

Glyfada Golf Club of Athens - GGCA
Address: Terma Pronois Street (K. Karamanlis Avenue), GR-166 10 Glyfada, Athens, Greece
Mailing address: P.O. Box 70116, GR-166 10 Glyfada, Athens, Greece
Tel.: +30 210 894 6459
Fax: +30 210 894 6834
E-mail: ggca@otenet.gr
URL: http://www.athensgolfclub.com/
President: Christos Lolas
Secretary General: Alexis Koukoulas
Club Secretary: Barbara Papadimitriou

Atticos Golf Club (Seniors)
P.O. Box 70116
GR-166 10 Glyfada, Athens
Greece

Greek Ladies' Golf Club
K. Karamanlis Avenue
P.O. Box 70116
GR-166 10 Glyfada, Athens
Greece
Tel./Fax: +30 210 894 9355

BF: Glyfada Golf is the country's flagship course but with just 2,000 members and 200 players. It has rough fairways and hard greens. The scream of jet liners landing at Hellenikon used to make lining up a putt a problem. That, at least, has ended.

Glyfada Golf Course - "Konstantinos Karamanlis"
Photo courtesy of Nikos Dalaris, HOTEL magazine

The cachet of the course comes from its luminary members, who have included the late President, Karamanlis (said to be "a fanatic who did not play very well"), the former Prime Minister, George Rallis ("a good golfer but temperamental"), and the Deputy Minister of Finance, Peter Doukas (President of the Hellenic Golf Federation).

Glyfada's precursor was a nine-hole course at Varibobi owned by shipping interests who fell upon hard times and lost the property to the National Bank of Greece. When Glyfada opened the Varibobi membership transferred en masse.

INVgolf: It is sad to say that greater Athens (Attica), with its four million or so inhabitants, has only one golf course! The Glyfada Golf Course is an 18-hole, par 72 course, designed and built in 1962 by international golf course architect Don Harradine.

Located in Glyfada, a seaside suburb of Athens, the Glyfada Golf Course opened in 1966 and is a green oasis of rolling hills, landscaped with mature trees and shrubbery. In 1979, Glyfada Golf Course hosted the 27th Golf World Cup and, in 1991, the golfing events of the XI Mediterranean Games. Golf competitions are held regularly at the Glyfada Golf Course; the most notable ones include the Heineken Cup, Swissair Pro-Am, Air France Pro-Am, Reuters Cup, etc. For the past three years, the PGA Senior Greek Open.

Whilst playing on a course studded with 15,000 pine trees, golfers can enjoy a scenic view of the Saronic islands and the Peloponnese coastline and almost always play under idyllic weather conditions and, of course, the beautiful blue skies of Attica.

Glyfada Golf Course - "Konstantinos Karamanlis"

In addition to its pro shop, driving range and putting green, the Glyfada Golf Course has facilities for meetings and social events for up to 2,000 people. The entire complex consists of:

  • Practice range

  • Dressing rooms

  • Pro shop

  • Golf academy

  • Parking for 500 vehicles

  • Two tennis courts

  • Spike bar

  • Two luxury restaurants

  • Convention-meeting room

  • Press room

  • Reception area for up to 2,000 people

  • Communication facilities

  • Space for Junior activities

The golf course is located in Glyfada, a 20-minute drive from the city of Athens and very close to Glyfada's many shopping malls. It is also approximately a 20-25 minute drive from some of the best hotels in the Attica region.

Operating hours
On weekdays and weekends, the Glyfada Golf Course is open from 7:30 hours until sunset.
The spike bar is open from 08:00 hours until late at night. Every Monday, the course and the spike bar are closed until 13:00 -- for golf course maintenance reasons. The entire Glyfada Golf Course complex is closed on Christmas Day and on (Greek Orthodox) Easter Sunday. The Glyfada Golf Course opens at 12:00 hours on (Greek Orthodox) Good Friday and at 10:00 hours on New Year's Day.

Handicap limits
Golfers who have official HCP may play on the course.

Starting times
Booking for tee-off time (starting time) is necessary only for the weekends and should be reserved four days in advance.

Beginners
Beginners are welcome to visit the Glyfada Golf Course. GGC's golf pros offer lessons to teach the "secrets" of the game.

Competitions
The Glyfada Golf Course is well suited for holding and organising competitions. Golfers who wish to play on the GGC may also participate in a competition organised by the PGA of Greece, exclusively for them.

Sponsors
Regular players at the Glyfada Golf Course and golfing members from other Golf clubs may participate in sponsored competitions organised by the Glyfada Golf Course.

Tourism-entertainment
The Glyfada Golf Course, in cooperation with international travel agencies, can organise sightseeing tours in the Attica region and the Saronic Gulf islands for golfing visitors.

All golfers are welcome to play at the Glyfada Golf Course, all year round.

[Top of Page]

CORFU (IONIAN)

Corfu Golf & Country Club
Corfu Golf Club

Corfu Golf Club
Owner: Tsaoussoglou Enterprises
Mailing address: P.O. Box 71, Ropa Valley, GR-491 00 Corfu, Greece
Tel.: +30 26610 94220
Tel./Fax: +30 26610 94221
E-mail: cfugolf@hol.gr
Athens Office: 1, P. Stavrou Street, GR-115 24 Athens, Greece
Tel.: +30 210 691 8795, +30 210 692 2809
Fax: +30 210 692 3028
E-mail: golfcfu@hol.gr
URL: http://www.corfugolfclub.com/
General Manager: Constantine Ch. Tsaoussoglou, Dipl. Mech. Engineer NTUA, MBA INSEAD
Holes: 18-hole international championship
Par: 72-SSS 72
Opened in: 1971
Length: 6,802 yards (6,183 metres)
Design: Don Harradine ("Harradine Golf")
Other details: Year-round lay-out

BF: The Corfu Golf Club is another private course owned by the entrepreneurial interests who also have the luxurious Corfu Holiday Palace hotel [located 16 kilometres/30 minutes away from the golf course] on the island. The Corfu course was considered top of the range when it opened but went through a period of decline.

Now, under new management, the club has some 20,000 green fees a year. Three years ago it was listed among the top 50 courses in Europe on the grounds of location and condition.

Corfu Golf Club
Corfu Golf Club

INVgolf: Visitor and golfer alike often overlook the 18-hole Ropa Valley Golf Course, which is designed by Don Harradine to take in tree-lined fairways, lakes and meandering streams.

A British professional is on hand to provide lessons or simply hire a set of clubs and enjoy the challenge of this magnificent course. A restaurant, club house and pro shop are located on site.

There are three sets of tees thus providing enjoyment for all categories of players. Golfers coming to Corfu can test their skill and enjoy an island which offers spectacular scenery, fine hotels, good food and a warm welcome.

[Top of Page]

PORTO CARRAS (CHALKIDIKI)

Porto Carras Golf Course
Porto Carras Golf Course

Porto Carras Golf Course
Owners: Golf Porto Carras SA, member of the Technical Olympic Group
Address: Porto Carras Grand Resort, Neos Marmaras, GR-630 81 Sithonia, Chalkidiki, Greece
Tel.: +30 23750 71381, +30 23750 77000, +30 23750 71221
Fax: +30 23750 71502, +30 23750 71229
E-mail: golf@portocarras.com
URL: http://www.portocarras.com/
URL: http://www.portocarras.com/english/golf.htm
Head ïffice: 20, Solomou Street, GR-174 56 Alimos, Athens, Greece
Tel.: +30 210 997 7000 (switchboard), +30 210 994 9809 (marketing department)
Fax: +30 210 994 9457
E-mail: info@portocarras.com
URL (Porto Carras Golf Course in progress): http://www.slimgolfbuild.com/inprogress.asp
Holes: 18
Par: 71
Chairman and CEO: Konstantinos A. Stengos
Director of Golf: Sofia Papadopoulou (+30 23750 77000, extension 6460)

BF: Porto Carras is associated with the eponymous resort complex built in Chalkidiki, northern Greece. The Porto Carras complex consist of three hotels, a marina for 200 yachts, a casino and an 18-hole, Par 72 golf course plus amenities.

Porto Carras Grand Resort

INVgolf: The high-standard hotel complex is set in 17.63 million square metres of lush green on the forested Chalkidiki peninsula. The hotel stands next to an astounding 10-km. long beach with more than 25 separate small bays. This, in a nutshell, is the Porto Carras Grand Resort. Click here to see a bird's eye view of the resort.

The Porto Carras Grand Resort complex consists of three hotels (the Meliton ***** with 480 rooms, the Sithonia **** with 455 rooms and the Village Inn *** with 88 rooms) and also the ultra-luxurious historic Villa Galini with 18 suites and rooms. No matter which one you choose, you will enjoy your stay and be shown around the facilities of the complex, which include a variety of restaurants & bars, a spa, a private marina, etc.

David B. Mathews (E-mail: slimgolfbuild@hotmail.com), one of the partners in Sofia-based Golf Balkan Ltd. together with Alan Egford, was responsible for the redevelopment of the 18-hole Porto Carras golf course, which was originally designed by golf course architects Geoffrey Cornish & Bill Robinson (G. Cornish & W. Robinson Golf Course Designers).

Porto Carras Golf Course
Porto Carras Golf Course

BF: The water supply for the greens was brackish which meant their condition was poor. But it is a "pleasant" course according to Philip Papalavrentis. "Not championship, but very pleasant," the reason being, he explains, that "you shoot under your handicap."

The course got little use except by guests of the resort because, though only a little over an hour's drive from Thessaloniki, it was given no publicity. "People from abroad who played golf would go back to Thessaloniki and bring their friends to see what golf is. On the weekend it is nothing to go 120 km. It is two hours drive [there and back] but the environment is fantastic," says Papalavrentis.

The resort was taken into receivership by the National Bank of Greece and maintenance of the course declined. The new owners, the construction company Technical Olympic, are renovating the entire complex and have managed to find a source of sweet water that should improve the greens. They have also redesigned the course and upgraded the fairways.

According to Business File ("Building blocks," special survey no. 41, October 2001), the golf courses would be patterned on golfing suburbs, which are popular in the US, where housing estates are built on the fringe of golf courses with club membership forming part of the sales promotion. The developments tend to attract groups of like-minded people who rapidly bond into a neighbourhood. In the US, Technical Olympic USA, Inc. (TOUSA) co-operates with specialist golf designers in the creation of such developments.

INVgolf: The Porto Carras Complex is the largest tourist resort in Greece with a total area of 17,630,000 square metres in Sithonia, Halkidiki. It includes three hotel complexes, an 18-hole golf course, a marina for private yachts, a conference centre, vineyards, a winery, and 10 km. of private beaches. In 2003 the company obtained an operating licence for a casino located in the Sithonia Hotel at the Porto Carras Grand Resort.

Porto Carras was acquired by the Technical Olympic Group on December 4, 1999. The acquisition cost was settled through a share capital increase by ATHEX-listed Technical Olympic SA. It was essential that a short-term loan needed to be issued by ATHEX-listed Alpha Bank SA to Technical Olympic until the capital increase would be effected. To settle this loan, Alpha Bank drew GRD 19.08 billion from Technical Olympic Chairman Konstantinos A. Stengos' private bank account.

[Top of Page]

'Golf at Porto Carras'

In September 2003, after a very successful planting and establishment period, 9 holes were re-opened. The mineral soil amendment, Zeolite, which has been ameliorated into all Greens, Tess and Fairways, is producing outstanding results with water consumption being reduced between 30% and 40%.

Fertiliser requirements, even during the establishment period, are typically 20%-30% less than would normally be expected.

The turf grass, Sea Shore Paspalum, is showing no adverse effects during this hot and dry period. It is constantly subjected to saline water conditions, and is also receiving 100% of all the treated waste water from within the resort.

These results represent a huge saving, not just financially. but in the impact to the environment, and are a direct result of the professional management programmes adopted, and implemented by Porto Carras.

The President, Constantine Stengos, together with the management team, must be applauded for their determination, not only to renovate and re-open 'Golf at Porto Carras,' but to do so in such a professional and environmentally friendly way too great vision and dedication. A truly outstanding achievement.

Just completed is the new, modern club house facility. This incorporates all the services you would associate with a professional golf resort.

Golf club and buggy hire are available from within the club house and golf operation.

Green fees are starting at EUR 40-50 and all the hotels within the resort are offering packages to incorporate golf into your vacation. Annual membership is also available.

Situated a pleasant one hour drive from the international airport at Thessaloniki, Porto Carras is ideally located for all European, and world-wide, golfers to include this beautiful venue in their golfing calendar.

As a weekend break, or longer vacation, the outstanding facilities of this premiere resort, together with the golf, offers the perfect location for pleasure and relaxation. Or why not just come for the day?

The entire management team are eagerly awaiting the return of golfers to Porto Carras, so come and enjoy this magnificent golf course once more.

For details of green fees, holiday packages and playing schedules, contact Sofia Papadopoulou, Director of Golf, and the ream at Porto Carras, on +30 23750 71381. URL: http://www.portocarras.com/.

About the Porto Carras Grand Resort's owners

Konstantinos A. Stengos

Konstantinos A. Stengos is the founder and remains a leader of the Technical Olympic Group of Companies. Born in Klima, Greece, he founded Technical Olympic SA in 1965 in Patra, Greece, specialising in the construction of apartment buildings and public works. He also founded two other construction companies, Mochlos SA in 1973 and Toxotis SA in 1976. Technical Olympic and Mochlos were listed on the Athens Stock Exchange in 1994. All three companies today rank among the largest contracting companies in Greece, and Stengos remains the creative and visionary leader of all the companies.

He has also founded and acquired other construction companies in the United Kingdom, Romania, and the United States. In 1999, he led Technical Olympic’s acquisition and merger of two U.S. homebuilding companies to create Hollywood, Florida-based Technical Olympic USA, Inc. (TOUSA).

Today, the Technical Olympic Group of Companies is involved in a variety of construction projects, including homebuilding, irrigation systems, drainage systems, road building, tunnels, buildings, electro-mechanical works, harbor facilities, industrial works, energy, construction of marinas, and generation and management of electrical energy. Since the December 1999 acquisition of the Porto Carras tourism and hotel complex, with the largest single vineyard in Greece, the group also provides an entire spectrum of tourism services.

Stengos is a graduate of the National Technical University of Athens. He has been a member of many contracting organisations and served as Chairman of the Western Greece Department of the Technical Chamber of Greece for nine years.

TOUSA is listed on the New York Stock Exchange (NYSE: TOA), while Technical Olympic SA has been listed on the Athens Exchange (ATHEX) since 1994.

Related stories:

  • Technical Olympic SA and Mochlos SA gain control of the Porto Carras complex for an undisclosed price:
    In December 1999, ATHEX-listed Technical Olympic SA and Mochlos SA were declared highest bidders for the Porto Carras complex tendered by state-run National Bank of Greece SA (NBG), NBG's investment arm National Investment Bank for Industrial Development SA (ETEBA), and Hellenic Industrial Development Bank SA (ETBAbank). NBG controlled 78.43% of POTIDAIA SA (the company that manages and is in charge of the Porto Carras complex), 21% was in the hands of ETBAbank, while the remaining 0.57% was owned by ETEBA. The Porto Carras hotel complex covers a seaside area of 17.63 million square metres in the Sithonia peninsula, near Thessaloniki, with private beaches stretching for several kilometres. The complex includes three hotels with a total capacity of 1,815 beds, a marina, an 18-hole golf course, convention centres, a shopping centre and recreation facilities, as well as a wine-making industrial facility. The complex also includes 8 km. of private beaches. [December 15, 1999] [full story...] [premium content]

  • Golf at Porto Carras will soon be back amongst the 'circuit' of golf in Greece:
    Absent now for over two years due to economic and environmental factors, it is soon to be re-opened in all its glory, and will swiftly regain its reputation as one of the premiere golf venues in Europe. [full story...]

[Top of Page]

HERSONISSOS (CRETE)

The Crete Golf Club

The Crete Golf Club
Owners: Cretan Golf SA, a corporation in which the owners of 10 local hotels plus Ted (Theodoros) Vassilakis (owner of AutoHellas SA, the Hertz franchisee in Greece, Chairman of the Th. Vassilakis Group, and Chairman & Managing Director, Aegean Airlines SA), have invested. The visionary moving force in opening the way for the Crete Golf Club and the new era of golf development in Greece is Dr. Michalis Vranas, a lawyer and hotelier by profession
Mailing address: P.O. Box 106, GR-700 14 Hersonissos (Crete), Greece
Tel.: +30 28970 26000
Fax: +30 28970 30180
E-mail: info@crete-golf.gr
E-mail: info@cgc.gr
URL: http://www.crete-golf.com/
Contact: Nikos Fountoulakis
Chairman & CEO: Dr. Michalis Vranas (Robinson Club - Lyttos Beach)
CEO: Andreas Metaxas (Maris Hotels)
Architects and project management: PGA Design Consulting Ltd. (PGADC), United Kingdom
Constructed by: EMPEDOS SA - General Contractors, Nea Kifissia, Athens
Holes: 18
Par: 71
Yards: 6,430 (desert-style golf course)

INVgolf: Introducing golf to Crete, local hoteliers have put together a team of world-class designers (PGADC) and developers to create an 18-hole championship golf course. Catering to tourists, the course was built to meet USGA standards. It features a desert course design language, with four sets of tees, wide fairways and perfect maintenance in a typical mountainous Cretan environment, offering unparalleled views. The Crete Golf Club is located at a 10-minute drive from the favourite tourist destination of Hersonissos, 20 minutes from the Heraklion airport.

The Crete Golf Club was officially opened by Greece's former Minister of Economy and Finance on Sunday, October 19, 2003, but has already been operating since the beginning of July 2003.

Dr. Michalis Vranas, a lawyer and hotelier by profession, is President of The Crete Golf Club and co-owner of Robinson Club - Lyttos Beach. He has been the visionary moving force in opening the way for The Crete Golf Club and the new era of golf development in Greece.

He successfully gathered, led and cemented 32 individual partners into an effective team, which packaged the land with 92 separate contracts. Knowing the legal framework, political intricacies and bureaucratic obstacles in Greece, he has developed an effective strategy for overcoming them.

Although Crete is the fifth-largest island in the Mediterranean and the largest Greek island, it only has one 18-hole golf course (The Crete Golf Club) and one 9-hole course (Elounda Golf Club). The golf club in Hersonissos is located at a 30-minute drive from the par-3, 9-hole Elounda executive course.

The Crete Golf Club is therefore currently the first and only 18-hole golf course on the beautiful island of Crete. It is a 6,430-yard course with two driving ranges. The course, created in a desert-style design, is a par-71, 18-hole championship layout. It has two loops of nine (the first nine holes are rather noisy due to the very loud neighbouring water park, also known as 'Aqua Splash', while the back nine are much better since the awful noise from the club's neighbours does not distract golfers), which seamlessly blend into the existing landscape. Click here for a lay-out of the course.

Here is a brief overview of the course:

  • 18 holes in a desert course design;

  • With an artificial lake (HDPE; 60,000 m3 of water);

  • Each hole individually sculptured, seamlessly blending into the existing landscape;

  • Designed by PGA Design Consulting of the United Kingdom, this course offers dramatic views and truly tests every aspect of the golfer's repertoire;

  • Continually breezy conditions allow play in summer, the mildest Mediterranean climate invites you to each season;

  • As a resort style course it will require the use of buggies;

  • Enjoy life in the opulent clubhouse catering to your every need and meet the friendly team, all ready to serve you;

  • Learn golf at the Golf Academy and hone your game at the practice facilities. These include a double-end 300 yard covered driving range with short game area and two practice putting greens.

BF: According to Business File, a survey of the Greek tourism industry by Robert McDonald ("Life's a Beach," no. 47, March 2003), this 18-hole, par 71 championship standard course, opened in July 2003 near Hersonissos, a tourist centre 24 km. east of Heraklion on Crete. The development, on a 720,000 square-metre site, cost EUR 14.7 million to develop. Known as The Crete Golf Club, it is a corporation in which the owners of 30-plus local hotels plus Ted Vassilakis, owner of AutoHellas SA (the Hertz franchisee in Greece), have invested. The moving force was said to be the hotel-owning businessman, Michalis Vranas. The project has benefited from the government's investment incentives programme.

The Crete Golf Club
The Crete Golf Club

INVgolf: The 6,430-yard course has two loops of nine, which seamlessly blend into the existing landscape. The slopes, visible rocky ground, groundcover plants and absence of trees provide a character that is easily identifiable as Crete.

Each hole has a selection of four tee beds, providing a challenge for all golfers whatever their standard. Where the scratch golfer will find the course a tough enough test from the back tee, the novice will find the forward tees more suited to their game.

The natural terrain has been maintained with the continual wind and breeze conditions will present a good test to all golfers. As a desert-style course, it will require the use of buggies.

The course also comes with the full range of practice facilities for novice golfers, tourists and golf club members. This includes a double-ended covered driving range with practice bunkers, short game area and practice putting green. There is also a second putting green adjacent to the first tee.

Driving range

  • 300 yards double-ended range with covered bays and open grass tees

  • Pitching / Chipping / Bunker Practice Areas

  • Large Practice Putting Green

  • Indoor classrooms

The spacious golf clubhouse has been designed by PGA Design Consulting to give the golfer the feeling of Cretan architecture and hospitality. It is situated between the first and tenth tees to offer quality services. After being greeted at the reception, you can enjoy:

  • Bar / restaurant

  • Pro shop

  • Club room lounge

  • Changing rooms

The Crete Golf Club's Golf Academy features a variety of golf programmes, offering unparalleled instruction and the most advanced teaching methods to improve your performance, whether you are a novice or you need a "refresher' for your game.

The course's PGA qualified instructions will assess your standard and recommend a suitable programme, with the emphasis on relaxation and fun. Programmes include individual or group tuition, half and full-day formats, 3- to 5-day programmes, corporate and society golf days and specialised clinics.

The Crete Golf Club lies approximately 23.5 km. east of the 'Nikos Kazantzakis' Heraklion International Airport and 7 km. south of Hersonissos.

With Heraklion as your starting point, go East on the 'New Road,' the E75, with direction to Aghios Nikolaos and turn south (right) on the Lassithi Plateau intersection with direction to Kasteli, 3.5 km. The Crete Golf Club is situated on your right hand side next to a water park.

There were a number reasons to build this golf course on Crete.

Crete is the fifth-largest island in the Mediterranean (260 km. long) and the largest Greek island. It is located at the crossroads of the three known continents of the ancient world and due to its strategic position, it has been coveted by foreign invaders, including the long periods of Byzantine, Arab, Venetian and Turkish occupations.

The ancient Greeks called it "The Great Island" and they were right. It is one of the most important, if not the most important, island in the eastern Mediterranean and its history is long and eventful. It was home to Europe's first civilisation, the Minoan culture, of which impressive remains may be seen at Knossos. This was the capital city of the kingdom of the legendary king Minos that flourished from about 3000 to 1400 B.C. Crete has been the "melting pot" for civilisation with many layers of history and differing cultures -- a realm of nature's wonders with 'real' people who still regard themselves firstly as Cretans and then as Greeks. Their unique character embodies their heroic spirit of independence. They cherish their ancient customs and 'philoxenia' -- the generosity to strangers) is still a matter of tradition and pride.

Crete's variety of features includes mountain villages, long sandy beaches, rocky bays, beach-bar-boogie & nightlife. There are magnificent mountain ranges, water-sports, tranquil locations and clean seas. Bathed in clear sunlight much of the year, the climate is one of the best in Europe. It is understandably a most popular travel and vacation destination, especially for families.

There is an abundance of plants and flowers that are unique on the island. Breathe in the ever-present scents of wild herbs, taste fresh fruit, the best of the world's olive oil and healthy, delicious cheeses. Enjoy the delight of sipping a Greek coffee at the roadside in a mountain village. Because Crete is the largest of the Greek islands, it offers both developed tourist areas with resort hotels and also quiet coves, hidden beaches and invigorating mountain villages and plateaus that reward the discerning world traveller.

Heraclion, the capital city of Crete, 25 km. to the west of the golf course, has the major archaeological museum, smart and trendy cafes and shops and a noisy business bustle. Just outside Heraklion is Knossos, the major archaeological site of the Minoans. Closer still is Heronissos, just 7 km. away from the course. Heronissos is a seaside resort with a pretty seafront offering excellent restaurants, lively bars and interesting tourist shops and is the centre of nightlife on Crete.

The golf course is a great asset for Crete, as it extends the island's tourist season and upgrades the quality of Crete's tourist mix, which attracts higher-income clients.

Bob Hunt, golf course architect and Managing Director of PGA Design Consulting, commented, "This is an important site where we have followed our design philosophy of environmental friendliness. Golf is the fastest developing sport in the world. There are more than 30,000 golf courses and more than 50 million golfers world-wide. It is certainly one of the more important events in Greek tourism for many years." He also noted that, as a desert-style course, the course will be in great demand by athletes.

Of the many features awaiting the guests, the Pro Shop deserves highlighting. This is now stocked with fashion goods and golfing accessories for the discerning golfer. Then there is the restaurant serving light meals, which may be consumed on the terrace overlooking the 18th green. Last but not least, you will find numerous ancient sites, villages, mountains and beautiful beaches around the island that will take your golfing holidays to the highest level.

The 18-hole fee is EUR 90 and includes the buggy and range balls. The Crete Golf Club has various Hotel Partners on Crete. Guests of these fine hotels may be offered reduced green-fee rates. The Crete Golf Club will send a list of Hotel Partners upon request.

AutoHellas SA participates in The Crete Golf Club

AutoHellas SA is the Hertz franchisee in Greece and a member of the Kifissia, Athens-based Th. Vassilakis Group, which comprises of a wide range of companies including Aegean Airlines SA, Vitacar (official Opel distributor), Vacar (Saab importer/distributor), Autotechnica Ltd., Bulgaria (SEAT, Audi importer and Hertz franchisee; formerly Bemal Auto Ltd.), Ergocar (SEAT retail sales), Velmar (official Ford distributor) and Technocar (SEAT importer/distributor). AutoHellas also has a minority stake in Cretan Golf SA, owner of The Crete Golf Club. The company is, among many other activities, involved in fleet management, used car sales, and is the biggest automobile buyer in Greece. Through Alimos, Athens-based Piraeus MultiFin SA, a member of the Piraeus Bank Group of Companies, AutoHellas can efficiently and swiftly dispose of its used cars.

Hertz is the largest car rental company in the world. Car rental, the largest and best known of Hertz' activities, is conducted from approximately 1,900 locations in the United States and from approximately 5,100 international locations in more than 140 countries. The Hertz Corporation is a wholly-owned subsidiary of the Ford Motor Company.

Before becoming part of the Ford Motor Company family of brands, Hertz changed hands many times over with a few different names. Finally in 1965, Ford Motor Company and Hertz entered into a joint advertising agreement to promote their products and services together. It was the first step in a relationship that came to fruition in 1994, when Ford Motor Company purchased all outstanding shares in the Hertz Corporation.

With more than 111 locations all over Greece, 20 of which are located at airports, Athens-based AutoHellas is the largest rent-a-car company in Greece, based on the company's financial capacity and the size of the fleet of vehicles it manages. Furthermore, the company is the biggest national franchisee of Hertz International in Europe. AutoHellas is also Greece's innovator of the rent-a-car business by continuously offering new services. Its fleet consists of more than 19,500 vehicles with an average age of just 21 months.

AutoHellas was established in 1974 when Theodore (Theodoros) Vassilakis took over Hertz Hellas, a subsidiary of Hertz International, renamed it AutoHellas SA and assumed Hertz' representation throughout Greece. AutoHellas (Hertz) constantly leads the car-hire sector in Greece. For two consecutive years -- 1998 and 1999 -- the firm was awarded by the travel industry (TTG Award) as the best rent-a-car company in Greece for high standard services rendered.

In addition to offering car-rental and fleet-management services, AutoHellas is the biggest car buyer in Greece. In 2003, more than 6,000 cars of over 60 different types were bought in order to replace the company's old ones. Replaced cars are sold at every Hertz station.
AutoHellas is listed on the Athens Exchange (ATHEX).

On June 1, 2005, AutoHellas undertook the representation (franchise) of Hertz in Cyprus in a move to dynamically penetrate the rent-a-car and leasing/fleet management sectors in the Eastern Mediterranean. The company is investing a total of EUR 2 million into the Greek-Cypriot market, while significant synergies are expected to be made with Aegean Airlines.

For a map of the 18-hole golf course, click here.

[Top of Page]

RHODES (DODECANESE)

Afantou
Afandou (photo courtesy of Tourism Development Company SA)

Afandou Golf Course
Mailing address: P.O. Box 85103, GR-851 00 Afandou (Rhodes), Greece
Location: On the 18th-20th km. National Road (20 km. from the city of Rhodes)
Tel.: +30 22410 51451
Tel./Fax: +30 22410 51122
E-mail: info@afandougolfcourse.com
URL: http://www.afandougolfcourse.com/
Holes: 18
Yards: 6,800
Par: 73
Opened in: 1973
Other details: Open all year, including Mondays
President: Christos Harissis
Golf Professional (responsible for the Afandou golf course): Vassilis Anastassiou

BF: Afandou on Rhodes was a project developed by the Hellenic Tourism Organisation (EOT) under the military dictatorship. It is an 18-hole championship course, wooded with olive trees and adjacent to the sea with the first three holes -- two par fives and a par three -- running along the shore. It is flat with little challenge from the terrain and poor irrigation which means the fairways are scruffy.

There is a 1970s-built clubhouse and a semi-finished associated hotel. The course operates on a 12-month basis but attracts a maximum 150 players a day during spring and autumn with a third that number playing in summer and winter.

"Now, from Rhodes, if you go 25 minutes by boat to Antalya, it's only a taxi-ride away to three international standard golf courses," says Philip Papalavrentis, former Honorary Secretary of the Hellenic Golf Federation (HGF).

Afandou Golf Course

INVgolf: Twice a year, the very active golf club organises an International Championship Cup -- the last week of March and last week of October. 

The Afandou Golf Course is located in the island's Afandou Bay, approximately 20 km. from the island's capital, 20 km. from Lindos, 20 km. from the airport, 7 km. from the Kallithea thermal springs, 7 km. from the Seven Springs area, and just a few km. away from the Faliraki and Tsambika beaches.

Hilton International has added the nearby Hilton Rhodes Resort to its Greek properties, offering a glamorous incentive location for both business and leisure. The hotel, located on 80 acres of prime, carefully-landscaped waterside property just minutes from Rhodes town and a short hop to the airport, creates a totally new hotel environment for Hilton in Greece, one that combines the ultimate in a resort property with top notch facilities for a business gathering, conference or incentive event. Golfers may wish to tee off from the Afandou course not far from the hotel.

Afandou Resort
Afandou Resort (image courtesy of state-owned Tourism Development Company SA)

Afandou's existing tourism facilities and infrastructure

  • Afandou's total property is 1,821,900 square metres;

  • Coastal zone of 3,500 metres;

  • Property includes an old 3-star hotel unit with a capacity of 26 rooms;

  • 18-hole, Don Harradine ("Harradine Golf") designed golf course covering 550,000 square metres, which opened in 1973 ;

  • Unfinished clubhouse;

  • Beach facilities;

  • Parking lot for 40 cars;

  • Ships depart several times a week.

Afandou's owners, state-owned Tourism Development Company SA (formerly Hellenic Tourist Properties SA), is eager to transform Rhodes into an "all-year destination". TDC's objective is to develop the Afandou Golf estate into a high-standard integrated holiday resort.

Objectives:

  • 236,847 square metres available for additional development (Law 2160/1993);

  • Modernise (upgrade) and redesign the 18-hole golf course on a 450-acre site by the sea;

  • Create a proper clubhouse and golf school;

  • Construct a new 9-hole golf course;

  • Construct a range of four-star and five-star accommodation: villas, rooms and suites;

  • Develop wellness centre, fitness and sports facilities, retails facilities (shopping arcade), etc.

With an integrated development plan, TDC believes the Afandou Resort could become a high-quality, all-year-round leisure and tourism destination designed to meet all possible needs.

Tourism Development Co. SA

The Greek government is aiming to raise approximately EUR 1.6 billion in revenue from privatisations in 2006 as part of its efforts to reduce Greece's budget deficit to 2.6% of GDP from a target of 4.3% of GDP in 2005. Among its goals is the flotation of state-run Tourist Development Co. SA's (TDC) 51% stake in Mont Parnes through an initial public offering on the Athens Exchange (ATHEX). TDC (formerly Hellenic Tourist Properties SA - ETA) manages state-owned tourism property, including hotels, marinas, casinos, beaches and the Afandou Resort.

Privatisation anticipated to be launched in: Q4 2006

Afandou Golf Course
Afandou Golf Course

Acting as financial adviser to TDC, Mizuho Corporate Advisory Co. Ltd., a subsidiary of Japan's Mizuho Financial Group, has completed a list of assets, which are being "matured" by TDC to remove all obstacles for investment. Such obstacles include dealing with the archaeology or forestry departments, local municipalities, the church and others. According to Mizuho, agreements signed with investors will include provisions guaranteeing the protection and/or sustainable development of sites.

TDC, with the advisory help of Mizuho, will launch international tenders for these choice assets in the near future. Supporting each tender will be an information memorandum with detailed information about the asset and the mode of its development, the tender procedure and a fair risk allocation between TDC and the successful bidder.

TDC is also proposing the construction of two modern 18-hole golf courses and of one 9-hole golf course as part of its "Kaiafas Spa Development Plan" in the Peloponnese, a vast state-owned property spanning across 5,210,342 square metres, 325 km. from Athens. Other plans include the development of a clubhouse and golf schools, the construction of a range of five-star accommodation facilities, a wellness centre, a shopping arcade, fitness and sports facilities (horse-riding, walking, tennis courts, sea activities) as well as several amenities close to the sea. Although poorly managed, the Kaiafas site already features a hydrotherapy clinic, three hotel units (Geranio with 65 beds, Olympia with 18 rooms and Arin with 37 rooms), traditional buildings and residences (20 old rooms and 12 new rooms), a church (39 sq.m.), power substation (123.27 sq.m.), drilling and pump station & power generator room, water tower, etc. Its location is superb and the potential for developing the Kaiafas Spa into a ultra-luxury resort offering sophisticated leisure services all year round is tremendous.

Tourism Development Company SA (TDC)

Tourism Development Company SA
7, Voulis Street
GR-105 62 Athens
Greece
Tel.: +30 210 333 9416
Fax: +30 210 333 9507
E-mail: info@etasa.gr
URL: http://www.tourism-development.gr/index_en.aspx
Managing Director and Member of the Board: Dr. Konstantinos Zacharopoulos (tel.: +30 210 333 9510)
Contact person: Ioanna Flouskou
Financial adviser to state-run Tourism Development Co. SA (formerly Hellenic Tourist Properties SA or ETA for short): Mizuho Corporate Advisory Co. Ltd. (Country Manager: George Goutis)

[Top of Page]

ELOUNDA (CRETE)

Elounda Golf Club
Owner: Elounda SA
Address: porto elounda DELUXE RESORT, GR-720 53 Elounda (Crete), Greece
Mailing address: P.O. Box 31, GR-721 00 Ag. Nikolaos (Crete), Greece
Tel.: +30 28410 41903
Fax: +30 28410 41889
Reservations Department: porto@elounda-sa.com
Athens office (Elounda Mare Luxury Hotels & Resorts):
Tel.: +30 210 677 9620
Fax: +30 210 677 6262
Marketing Manager: Elias S. Kokotos
E-mail: info@elounda-sa.com
URL: http://www.portoelounda.com/
Holes: 9
Par: 3
Yards: 3,458
Other details: Deluxe Resort; private

BF: Elounda on Crete has a nine-hole course associated with a luxury hotel -- the porto elounda DELUXE RESORT -- but the course is more of an outsize pitch and putt than a golf course, with the longest hole being 140 yards, playable with a seven iron.

Elounda Golf Club
Elounda Golf Club

INVgolf: The Porto Elounda De Luxe Resort is situated 7 km. to the east of Aghios Nikolaos, offering spectacular views overlooking the Bay of Mirabello.

At the moment, Elounda SA Hotels and Resorts are comprised of three luxurious seafront properties in Crete:

  • The elounda mare hotel

  • porto elounda DELUXE RESORT (a 9-hole, par-3 golf course is available on the premises of this resort; it was the first golf course built on the island; the 18-hole Crete Golf Club is located at a 30-minute drive from this executive course), and

  • elounda peninsula ALL-SUITE HOTEL

Elounda SA is the first European Six Senses Spas operator that provides a revitalising experience. The Porto Elounda golf course, which is the first -- but not anymore the only -- one on Crete as the island's second course, The Crete Golf Club, is scheduled to open in July 2003 (see below), provides a good environment for learning the game and for training.

Elounda Golf Club
Elounda Golf Club

It is a 9-hole par-3 golf course, yet the multiple tee design gives every hole two playing options, thus giving the impression of an 18-hole course. The hole lengths range between 55 and 125 metres.

The clubhouse is set amidst a picturesque Cretan square and offers a pro-shop and the Porto Elounda Golf Academy where instructor John Grundy, PGA improves every aspect of your game on the driving range, the putting green and the course itself. The training facility is just ideal for beginners, and for those who need to improve aspects of their game like their short play.

The Porto Elounda De Luxe Resort is located 70 km. from Heraklion International Airport. One should either fly to Athens and take Olympic Airways or Aegean Airlines connections, or fly directly to Heraklion by charter flights from many European cities. The hotel's helicopter-pad allows the option of heli-transfers from either Athens or Heraklion. Upon arrival, the hotel can offer a limousine transfer service, should one prefer not to take a taxi or rent a car.

For a map of the 9-hole golf course, click here.

The company's visionary founder and president is architect Spyros Kokotos. His brother George, originally an engineer by profession, began his working life as a builder of hotels. Together with Spyros, they constructed six in Crete, including the world-class Elounda Beach. Today, George is president and managing director of Semeli Winery SA. He and his English wife, Anne, own and run Domaine G. Kokotos at Stamata, 23 km. from Athens. Anne is the Semeli Winery's marketing manager.

[Top of Page]

Major golf-driven tourism development projects, integrated resorts and residential communities in the works (Navarino Resorts) or planned (Cavo Sidero Resort) in Greece
 
INVgolf's latest, most comprehensive update on opportunities in Greece

The Crete Golf Club

Greece is back on the tourism and residential real estate investment radar screens, but... without golf, Greece is 'handicapped'!

Greece is feeling the heat from neighbouring Turkey, which is determined to develop 100 new golf courses within the next decade. Even if they achieve only 50% of this target, just imagine what destination Turkey will become with 50 golf courses! Furthermore, at least 200,000 tourist golfers visit Greece every year, according to a study presented by business consultants JBR Hellas Ltd. at the INVgolf European GOLF Investment and Real Estate Conference in Athens in November 2003, but they are 'handicapped' without the necessary, high-quality infrastructure.

Opportunities in Greece to create unique residential and holiday resorts -- especially golf resorts and leisure-integrated real estate developments -- are drawing the interest of investors and developers from the United Kingdom, Belgium, Australia, Cyprus, the USA and elsewhere. As Greece's new development law unleashes pent up demand, investors are submitting ambitious plans that take advantage of spectacular natural resources and a climate that is second to none.

The Greek government recently began to recognise the potential of mixing high-quality courses with up-market holiday homes, as has happened in Spain and Portugal. Greece currently has only six golf courses that are like "islands" located in six totally different areas (Attica, Corfu, Crete, Halkidiki and Rhodes).

A number of leading Greek groups of companies, foreign investors and Greek-Cypriot entrepreneurs have already started to proceed with their investment plans for the development of holiday homes and integrated leisure resorts with golf courses on large plots of land. Furthermore, an increasing number of Greek and international property management and investment groups are seeking to turn Greece into Europe's "number one" holiday-home market. In addition, leading international real estate players have set their eyes on the Greek market, as some believe that Spain, for example, is showing signs of saturation.

Below is a comprehensive overview of some of the new golf resort and integrated resort development projects and plans in Greece, which will change the face of the country over the next 10 years.

Opportunity knocks in Greece...

PYLOS (PELOPONNESE)

Navarino Resorts, Messinia

Navarino Resorts, Messinia
Owner/developer: Tourism Enterprises of Messinia SA (T.E.MES.)
Headquarters: 5, Pentelis Street, GR-175 64 Athens, Greece
Tel.: +30 210 949 0200
Fax: +30 210 940 9734
Managing Director: Achilles V. Constantakopoulos

[For further information on this project, which is Greece's only golf-integrated residential resort currently under construction, please contact INVgolf.]

"If you long for the days when the Cote d'Azur still held a certain je ne sais quoi, cast your eyes south eastwards to the other side of the Mediterranean and the idyllic setting of Peloponnese." -- The Observer, May 2005

INVgolf: The Constantakopoulos family, which owns one of the largest container ship fleets in the world and controls the Costamare Shipping group, is developing Navarino Resorts, a major new resort development in Messinia on the southern tip of the Pelponnese Penninsula. The Athens-based development company of this EUR 900 million project, Tourism Enterprises of Messinia SA (TEMES), was set up by the Constantakopoulos family and is currently run by Achilles Constantakopoulos. For the man who conceived this large tourism investment, Costamare's founder Vassilis Constantacopoulos (Achilles' father), this new development is not purely a business venture, but also a 20-year dream that he hopes will promote his family's home region and boost its local economy.

Just over two decades ago, the Greek ship-owning family patiently started acquiring land necessary to make the vision a reality -- piece by piece from more than 1,000 different owners -- until the assembled puzzle today covers a total of 1,000 hectares over four sites.

The development has been drawn by a team of Geek, U.S. and European planners, engineers, architects and speciality consultants.

Navarino Resorts (locally known as the "POTA Messinias" project)

Yes, golf in Messinia!
Yes, Messinia! (artist's impression courtesy of TEMES SA)

Navarino Resorts, the largest tourism development currently under construction in Greece, is located in the South-West Peloponnese on the Messinian Peninsula, a short drive from the international airport of Kalamata. Set to become a new upscale destination in the Mediterranean, Navarino is distinguished by its unique and unspoiled surroundings. The region of Messinia has preserved its cultural traditions and renowned historical monuments in harmony with its stunning Mediterranean landscapes. The rolling hills, secluded bays, pristine beaches, crystal-clear waters, and lush olive groves of Navarino combine to form an exceptional environment. The excellent climate makes the Messinian Peninsula an ideal year-round destination.

The first phase of Navarino is expected to be fully completed and operational by 2009 with the development of two integrated resorts, both situated on breathtaking beachfront property near the picturesque town of Pylos. The resorts will include four 5-star hotels, two signature golf courses, a thalassotherapy center, two spas, a conference center, indoor and outdoor athletic facilities, two creative centers for children, multiple restaurants, a water park, and many recreational experiences unique to the region.

The hotels and golf courses will be managed by premier operators. The two seaside golf courses are being designed by Robert Trent Jones II and Bernard Langer in association with European Golf Design, and will be managed by Troon Golf.

Upon completion of the first phase, Navarino will expand with the development of additional resort communities. The entire project will be built on spectacular land comprising an area in excess of 10,000,000 m2 (1,000 hectares) and will consist of eleven hotels, seven golf courses, several conference centers, numerous athletic and recreational areas, and holiday villas. A total of four distinct residential and resort communities will enjoy more than five kilometers of seaside frontage. The development has been planned with a deep respect for the environment, with a building footprint measuring only up to 8% of the total land area, ensuring the protection and preservation of the region’s natural beauty.

This major tourism investment by TEMES in the Messinian Peninsula will create the first fully integrated resort communities in Greece, offering authentic and diverse experiences. Developed with exclusive designs in an idyllic location, Navarino is poised to become a new upscale destination in the Mediterranean.

View from Navarino Bay
View from Navarino Bay (photo courtesy of TEMES SA)

Navarino Dunes (Romanos) -- approximately 1,300,000 m2 or 130 ha.:

  • One 5-star hotel with a capacity of 320 keys.

  • One 5-star hotel with a capacity of 445 keys.

  • One conference centre to accommodate approximately 1,200 delegates.

  • One thalassotherapy centre.

  • One 18-hole golf course.

  • Supporting infrastructure.

Another view from Navarino Bay
Another view from Navarino Bay (photo courtesy of TEMES SA)

Navarino Bay (Pylos) -- approximately 1,400,000 m2 or 140 ha.:

  • One 5-star hotel with a capacity of 226 keys in phase A with conference and spa facilities.

  • One 5-star hotel with a capacity of 119 keys with conference and spa facilities.

  • One 18-hole golf course.

  • Supporting infrastructure.

At a later stage, Phase B will follow, and will involve further hotel development and real estate. More specifically:

Panoramic view of Navarino Dunes
Panoramic view of Navarino Dunes (photo courtesy of TEMES SA)

Navarino Dunes (Romanos)

  • One 5-star furnished apartment hotel with a capacity of 268 keys.

  • One 5-star furnished apartments hotel with a capacity of 220 keys.

  • Extension of infrastructure to support diverse activities.

The Designers of the 2010 Ryder Cup Course at the Celtic Manor Resort, Wales, European Golf Design (EGD), based in Virginia Water, Surrey, England, is the joint-venture golf course design company of IMG and The European Tour. Founded in the early 1960s, IMG is the world's premier sports and lifestyle management and marketing firm, with an international staff of more than 2,200 people in 70 offices in 30 countries. The PGA European Tour, a company limited by guarantee, operates a group of business initiatives essential to its primary function of professional tournament golf administration. The European Tour are responsible for the government of more than 100 events worth over EUR 120 million in prize money on The European Tour, European Seniors Tour and European Challenge Tour. The Tour also represents the playing interests of more than four hundred players and operates companies that are involved in the promotion, televising and management of tour events.

The golf course at Navarino Dunes is to be designed in association with Bernhard Langer, who was Europe's 2004 Ryder Cup winning captain, has become an honorary OBE for his services to golf. The 48-year-old German, a two-time Masters champion, has claimed 42 European Tour titles, the first coming in 1980 when he was victorious at the Dunlop British Masters and he has competed in 6 Ryder Cup winning teams.

The beach of Navarino Dunes
The beach of Navarino Dunes (photo courtesy of TEMES SA)

The site comprises 2 km. of beachfront close to the village of Pylos at Navarino Bay and boasts wonderful views in all directions. The gently undulating topography mixed with the wide variety of other landscape elements which are present, such as a river, olive and orange groves, broad leaved trees and open, sandy plains combine to create a superb setting for golf.

Navarino DunesNavarino Dunes
Navarino Dunes (photos courtesy of EGD)

Navarino Bay (Pylos)

  • Extension of 5-star hotel of phase A with 106 keys.

  • Extension of infrastructure to support diverse activities.

  • In Phase B there will also be real estate development within an area of 17,500 m2 in Navarino Dunes (Romanos) and 40,000 m2 in Navarino Bay (Pylos).


The beach of Navarino Bay (photo courtesy of TEMES SA)

In Phase B, the development of a third area called Navarino Blue (Rizomilos) is anticipated which will include the development of 5-star hotels with a capacity of approximately 1,200 keys, a conference centre, a thalassotherapy centre, an 18-hole golf course, and real estate development.

The Phase A investment, with a budget of EUR 380 million, is to be implemented during 2007-2008 (becoming operational in 2009). Financing of the project will be through TEMES SA equity, premier Greek bank loans and subsidies.

Achilles Constantakopoulos has a Bachelor Degree in Hotel Management from Ecole Hoteliere de Lausanne. He is Managing Director of TEMES SA and COSTATERRA Investment SA. He is a member of the Board of Directors in COSTAMARE Shipping Company SA, CIEL Shipmanagement SA and GEO Hellas. He is also a member of the Board of Directors of ATHEX-listed Autohellas SA (Hertz), serving as an Independent Non-Executive Member, which is part of the Th. Vassilakis Group.

Navarino Resort Development Master Plans
Pylos, Rizomylos, Kynigos, Romanos, Greece

Four beautiful properties located in South-West Greece comprise the Navarino Resorts. These independent sites have been programmed strategically to create a golf destination for Greece. Each property, however, caters to a particular market niche, as identified by Economics Research Associates, London, the market consultant.

Romanos consists of a family beach resort on the Ionian Sea with a resort hotel, two holiday villages, self-catering apartments, timeshare units, as well as over 100 villas. In addition to the 18-hole golf course with clubhouse, amenities include thalassotherapy and conference centres, a village street, landscaped pool areas, and a tennis centre.

Rolling hills and lush valleys on the shores of the Bay of Navarino form the setting for the premier golf and country club destination of Pylos. Two luxury hotels, the 18-hole championship golf course and over 250 villa plots are carefully nestled into the hills and valleys of the property.

The high plateau of Kynigos overlooks the Bay of Navarino. The rugged landscape of this property provides the setting for a high quality retreat environment and features two 18-hole golf courses with residential development, a spa hotel, a secluded sports hotel, and a rustic clubhouse and lodge.

The Rizomylos property is designed as a new seaside village near the regional centre of Kalamata. Primary amenities include the beautiful beach, a water park, a 9-hole golf course, as well as seaside retail and restaurants along the boardwalk. Five hotels are planned with a total capacity of 1,500 rooms. In addition, more than 200 plots for holiday homes overlook the river valley.

[Top of Page]

Navarino Resorts
Navarino Resorts

Romanos description
The Family Beach Resort

The magnificent beach on the Ionian Sea with stunning views makes Romanos the ideal location for a family-orientated resort. The 141- hectare property at Romanos is located approximately 50 kilometres from Kalamata's International Airport, the current driving time from Athens is more than three hours, which will reduced to less than three hours once roadway improvements in the Peloponnese have been completed. The resort occupies a gently sloping plateau and will offer a variety of accommodation types surrounding a Village Street with restaurants, tavernas and resort retail venues.

Romanos offers an 18 hole championship golf course, a large pool complex, a tennis centre and an exclusive thalassotherapy centre overlooking the golf course and the sea. The resort also offers a children's club, mini golf and a gymnasium.

Pylos Description
The Country Club Resort

The most luxurious of the Navarino Resorts, Pylos is envisioned as a country club development where luxury hotels, the golf club and individual holiday homes complement each other in architectural quality and in their respect for the existing landscape. The Pylos property is located directly on the historic Navarino, where in 1827 the Battle of Navarino marked the birth of modern Greece. The 148-hectare property is nestled in a stunning landscape, with rolling hills and spectacular views of the Bay and Pylos town. A new 250 slip marina has just been completed and is located adjacent to the site.

The preponderance of archeological sites, the shipwrecks of the Battle of Navarino, the remains of an ancient Roman town all bear testimony to the area's rich history as a cultural crossroad.

Located just north of Pylos town and 40 km. from Kalamata's International Airport, the resort includes a championship golf course, two luxury hotels and a series of pools and terraces connected by a network of footpaths winding through the gardens, leading to the beach.

Kynigos Description
The Mountain Retreat

At 295 hectares, Kynigos features the largest land area of the Navarino Resorts. Situated on a high plateau overlooking Pylos and the Bay of Navarino, Kynigos is the most remote of the resorts, making it the perfect location for visitors who are searching for an environment far removed from the everyday world. The rugged terrain at Kynigos accommodates two 18 hole championship golf courses, a tennis centre, as well as an equestrian centre. A health spa hotel, a sports hotel, golf clubhouse accommodations and real estate development offer a variety of housing choices.

Rizomylos Description
The Seaside Village

Visitors seeking entertainment and excitement will be drawn to Rizomylos. Envisioned as a seaside village, Rizomylos will include a boardwalk with shops and amusements. An amphitheatre for outdoor performances is provided in the extensive river gardens in the middle of the site. In addition, visitors enjoy the use of a water park, a tennis centre, and a 9-hole golf course. Located on the gulf of Messinia, the property is easily accessible from Kalamata and its international airport, which lies 10 km. to the east. Rizomylos hopes to attract foreign tourists and visitors from Greece alike.

Lodging is distributed among five hotels; an all-inclusive Club Hotel, three holiday villages and a small boutique hotel. Each hotel has its own private beach frontage and is woven into the urban fabric of the resort village by an internal network of public spaces featuring "tavernas," restaurants and shops.

[Top of Page]

CRETE

Although Crete is the fifth-largest island in the Mediterranean and the largest Greek island, it only has one 18-hole golf course (The Crete Golf Club) and one 9-hole, par-3 course (Elounda Golf Club). It is also the second biggest island in the East Mediterranean, after Cyprus. By comparison, there are already three golf courses in Cyprus and the Greek-Cypriot government has announced that 11 more licences will be granted following a specific procedure that has been already announced; permissions for resort / real estate developments will also be granted for each golf course. Athens-based attorney-at-law Michael Vranas has been the visionary moving force in opening the way for The Crete Golf Club (which opened in 2003) and the new era of golf development in Greece. He and several major Greek entrepreneurs are now trying to persuade the government to amend the current land-use legislation that regulates the development of golf courses in combination with residential real estate (housing communities) in Greece.

Minoan Group PLC: Cavo Sidero Resort, North-East Crete

Loyalward Hellas SA
Athens Office:
4, Gravias Strret & Granikou Street
GR-151 25 Maroussi, Athens
Greece
Tel./Fax: +30 210 610 6100
Managing Director: Constantin Valassakis
Project Director: Geoff Brown (he also serves as Director of Loyalward Limited, Minoan Group PLC's wholly-owned subsidiary)

Palekastro Office:
GR-723 00 Palekastro, Crete (Palekastro is the village adjoining the Cavo Sidero site)
Greece
Tel.: +30 28430 29621, +30 28430 29622
Fax: +30 28430 29620

Minoan Group PLC
Registered address:
Woodbridge House
30 Aylesbury Street
London EC1R 0ER
England
Correspondence address:
P.O. Box 288
Orpington, Kent BR5 1XB
United Kingdom
Tel.: +44 1689 897 397
Fax: +44 1689 821 760
Chairman: Christopher W. Egleton (tel.: +44 7808 722022)
Executive Director and Group Company Secretary: William C. Cole
Project Manager: Geoffrey Brown

[For further information on this project, please contact INVgolf.]

INVgolf: Minoan Group PLC (formerly Loyalward Group PLC) of the United Kingdom is the OFEX-listed developer planning a luxury holiday resort on a 26-square-kilometre site at Cavo Sidero in Crete, comprising 5 villages, 3 golf courses, marina, conference centre all in a protected natural environment.

Cavo Sidero peninsular
The Cavo Sidero peninsular with Itanos in the foreground. The region features some of the finest landscapes on the island and includes the Holy Monastery of Toplou, the Minoan ruins at Itanos and Zachros as well as one of the best known beaches in Crete at Vai, which is also the site of the only natural palm forest in Europe.

Minoan Group's principal activity is the design, creation, development and management of tourist and leisure resorts. The company has to date concentrated its efforts on a 7,000-bed resort development on a peninsular site of approximately 26 square kilometres at Cavo Sidero in North-East Crete for which it signed a long leasehold contract in July 1998.

Zoning approval and first level environmental approval for the development were granted in May 2002, and archaeological approval in July 2002. This was followed by the application for a number of regulatory permits including those under environmental, tourist and building laws.

Cavo Sidero is a massive, environmentally-sustainable, golf-integrated, master-planned residential Cavo Sidero resort, which is currently in the pipeline and will include a 45-hole golf complex, 5, five-star hotels (approximately. 2,500 beds), 474 villas, 495 townhouses and apartments. Cavo Sidero will be an exclusive destination that is in harmony with its surroundings, providing an unique holiday experience for second home owners and visitors alike. It will be one of the largest resorts of its kind in Europe, creating a year-round holiday and leisure destination for discerning visitors from across the world. The scheme comprises five low-density clusters of luxury hotels, villas, townhouses and apartments, all with access to extensive sports, entertainment, restaurant and retail amenities. Because the site is so large, the five clusters will be well spaced, occupying just 1% of the total area. Each cluster will be independent of the others.

The well-established destination will be approximately 30 minutes from the Sitia airport. The company maintains management offices in Athens and Palekastro, Crete, the village adjoining the Cavo Sidero site.

Christopher Egleton, Chairman, Minoan Group PLC, minces no words on why he is enthusiastic about developing the largest single piece of real estate in Greece devoted to tourism: "For tourism, quite frankly, Greece has everything. The Greek people are the most hospitable in Europe, the food is great, and Crete has the longest European summer. And because Greece is the foundation of Western civilisation, we are innately tied to its culture."

The project will offer a wide variety of integrated facilities 12 months a year and will combine five hotels, an apartment complex, and luxury villas. Visitors and residents will enjoy golf, tennis, horse trails, water sports, nature, history, and the full services of a small village.

"Tourism is changing and at Cavo Sidero, since it will be a small community of 7,000, over time we will be able to respond to the demands of our clients and guests," says Egleton, who knows that nature and the environment are a high priority for everyone today. The company is acting not only to preserve but to improve the natural resource of the land: "We are deeply committed to the indigenous land and marine flora and fauna. We will install our own water recycling system and we have planted more than 100,000 trees. It is evident that full respect for the environment is in everyone's interest."

"The Greek government is making the right decisions with its new real estate laws. That is very encouraging," says Egleton.

Are responses from potential investment partners for Cavo Sidero, such as for a world-class hotel, forthcoming? "In a word," according to Egleton, "it has been 'robust,' beyond all our expectations." The tourist development project on Cavo Sidero is being developed under the aegis of Toplou Monastery, the main regional landowner.

In 1996, British developers Loyalward, headed by financier Peter Schoulman, won the bidding for the tender called by the Ecclesiastical Foundation of Panagia Akrotiriani, a special legal entity created by the Toplou Monastery, under the presidency of Bishop Eugenios of Ierapetra. Delay has been caused by legal wrangles connected with development on what protesters claim is state forest land. Date palms, which are protected, grow in some places earmarked for building.

For more than 30 years, Toplou abbot ("Igoumenos" in Greek) Philotheos Spanoudakis has dreamt of such a development, which he hopes would incorporate several big hotels, a marina village, golf course, conference hall, stadium and replica of the ancient theatre of Epidavros. Annual rent for the land would provide revenue for significant regional development and an estimated 3,000 jobs, believes the abbot.

On July 20, 2005, Minoan Group announced that Loyalward Ltd. has signed an agreement with PGA Golf Management for the management of the Golf Complex at its proposed development in Cavo Sidero. The largest sustainable development in Europe with innovative energy-saving techniques is made up of small-scale units inspired by local architecture. Subsequent phases will include additional hotels and a marina. European Golf Design Ltd. (EGD) of the UK prepared the master plan with architects Barr Gazetas of London. Geoff T. Brown is the Project Director of the luxury complex on Crete.

Holy Monastery of Panayia (Virgin Mary) Acroteiriane
Holy Monastery of Panayia (Virgin Mary) Akrotiriani (or "Acroteiriane") 
(photo courtesy of the Hellenic Ministry of Culture)

The Panagia Akrotiriani Foundation would receive 10% of annual revenues from Cavo Sidero. Loyalward would launch an environmental protection programme to conserve the palm forest at Vai, and restore vegetation around the holiday villages that has been damaged by decades of unrestricted grazing by sheep and goats. An olive oil is also produced under the Toplou label from organically-grown olives. 

The resort will include five luxury hotels with 360 villas and 460 rooms, accommodating up to 7,000 visitors, one 9-hole and two 18-hole golf courses with a professional golf academy, athletic facilities (basketball, volleyball, swimming pool of Olympic magnitude, horse riding club, archery, tennis academy, etc.), a conference centre that can cater for up to 1,200 delegates, a marina with 200 berths, a centre of art and theatre, shopping malls, etc.

"There are UK companies represented here today who are determined to be in the vanguard of foreign investment in Greece. They want to start projects that will create Greek jobs and enhance local regional economies. The go-ahead for projects like Loyalward's in Crete, worth £300 million, would create the largest high-quality tourism resort in Europe. This would send a clear signal that Greece is a place to do business." -- The Rt. Hon. Baroness Symons of Vernham Dean, speaking to members of the British-Hellenic Chamber of Commerce at a luncheon held at The Athens Club on March 27, 2003.

Kempinski to manage five-star hotel in Minoan Group's prestigious Greek resort

Kempinski Hotel

April 30, 2007 -- Kempinski Hotels and Minoan Group PLC are pleased to announce that Kempinski will manage a five-star luxury hotel within the extensive Cavo Sidero resort being developed on Crete. The hotel is expected to open in 2010.

Cavo Sidero is situated on a spectacular peninsula in north-east Crete, where Minoan aims to create a stunning new environmentally sensitive luxury holiday destination based upon the principles of sustainability. Formal approval by the Greek Government of Minoan Group's Environmental Impact Study was published on February 18, 2007. The 25 km2 site will
eventually offer 7,000 beds, in luxury hotels, villas and apartments set in six villages. With less than one per cent of the land being used for building, the natural beauty of the site will be preserved so that residents and guests will be able to enjoy the true luxury of space.

The Kempinski hotel will feature 180 rooms and suites, plus 10 Presidential Suites. Hotel facilities will include a number of restaurants and bars, tennis courts plus a large scale spa with indoor pool. The hotel will be set in extensive private landscaped gardens directly on the coastline. Cavo Sidero with its rich cultural heritage is less than 30 minutes from
Sitia International Airport. The resort will be a year-round holiday and leisure destination. In addition to the 45-hole golf complex, there will be horse-riding, an athletics centre and extensive water sports facilities. A theatre, arts complex and fully-equipped conference centre will be included in the resort.

Reto Wittwer, President & CEO, Kempinski, said "We are looking forward to working with Minoan to bring our unique brand of luxury to Crete. This is an exciting development and we will ensure that we offer our guests an experience of Crete that is out of the ordinary."

Christopher Egleton, Chairman of Minoan, said "I am delighted that we are now in partnership with a group synonymous with distinctive luxury in hospitality. This agreement confirms Cavo Sidero’s positioning as one of the most exclusive and unique resorts in the Mediterranean."

In 2007, Kempinski Hotels is celebrating 110 years of history, exclusivity and distinctive luxury. During this time, Kempinski hotels have hosted international celebrities, witnessed meetings between the world's leaders and been a part of creating history around the globe. Experience Kempinski's unique heritage at one of the group's prestigious properties in Europe, the Middle East, Africa, South America and Asia.

Kempinski is a member of the Global Hotel Alliance, which currently comprises seven luxury brands encompassing 153 upscale and luxury hotels with over 46,000 rooms in 39 different countries. Each brand is a key player in their main region of operation: Kempinski in Europe, Middle East and Africa, Omni in North America, Pan Pacific in the Pacific Rim, The Leela Group in India, Dusit in Thailand, Landis in Taiwan and China, and Marco Polo in China and Hong Kong. Global Hotel Alliance will continue to grow to include selected hotel brands in those regions not currently covered by the alliance.

Minoan Group PLC is a leisure property development company devoted to turning a peninsular site located at Cavo Sidero in Eastern Crete into a major new, environmentally sensitive, premium quality holiday resort destination. The Directors of Minoan, have recently announced that the Company intends to move to AIM. The last day of dealings on PLUS Markets is expected to be Tuesday, May 1, 2007 and the first day of dealings on AIM is expected to be Wednesday, May 2, 2007.

Kempinski Hotel (anticipated opening: 2010)

DESCRIPTION:
Cavo Sidero is situated on a spectacular peninsula in North-East Crete, where the aim is to create a stunning new environmentally-sensitive luxury holiday destination based upon the principles of sustainability. The 26-km2-site will eventually offer 7,000 beds, in luxury hotels, villas and apartments set in six villages. With less than 1% of the land being used for buildings, the natural beauty of the site will be preserved and guests will be able to enjoy the true luxury of space.

LOCATION:
Cavo Sidero, with its rich cultural heritage, is less than 30 minutes from Sitia International Airport. The resort will be a year-round holiday and leisure destination. In addition to the 45-hole golf complex, there will be horse-riding, an athletics centre and extensive water sports facilities. A theatre, arts complex and a fully equipped conference centre will be included in the resort.

FACILITIES:
The Kempinski Hotel will feature 180 rooms and suites, plus 10 Presidential Suites. Hotel facilities will include a number of restaurants and bars, tennis courts plus a large scale spa with indoor pool. The hotel will be set in extensive landscaped gardens directly on the coastline.

Minoan Group PLC related links and reports:

[Top of Page]

OTHER GOLF-INTEGRATED RESORT DEVELOPMENT AND MASTER-PLANNED COMMUNITY PLANS AND PROJECTS IN THE PIPELINE IN GREECE

  • Lasithi, Crete: Click here to download a five-page introduction (715 KB) of an excellent investment opportunity in Lasithi

    .Kilada Hills Golf and Spa Resort
    Kilada Hills Golf Resort (photo courtesy of Dolphin Capital Investors)

  • Kilada Hills Golf Resort, Argolis, South-East Peloponnese: This magnificent EUR 109 million -- including the cost of land, but excluding the cost of sales, marketing and promotion -- golf and spa resort is to be developed near the village of Kilada in Argolis, ten minutes from Porto Heli (one of the most upmarket second-home residential areas in Greece) and thirty minutes from the isle of Spetses. Both destinations are popular with some of the most affluent Athenian families, in part due to the fact that they are the only resorts of this quality within easy reach from Athens. Located within approximately two hours’ driving distance from Athens, Kilada Hills Golf Resort was the brainchild of the late Mark Potriadis. Nestled on a hillside above the nearby fishing village of Kilada, approximately 175 km. from Athens, the late developer secured a large plot of land among olive groves that he was planning to turn into a high-end master-planned golf-integrated residential resort to be developed in the Peloponnese. The 202-hectare resort is planned to comprise a brand-name luxury hotel, more than 450 residential units, an 18-hole golf course, marina, beach club and other leisure activities spread over more than 200 hectares of land. With most of the key development permits already in place for the first phase of the resort including the golf course and the hotel, construction is expected to begin in 2007, positioning Kilada Hills as one of the first golf-integrated residential resorts to come to market in Greece (Navarino Resorts, in South-West Peloponnese, and Cavo Sidero, in North-East Crete, are the others). Bordered to the east and south by the sea, this planned development has dramatic landscapes, an idyllic green rural countryside, perfect water and a blissful climate. The developer has created a well-rounded strategic investment plan to achieve market leader status in Greece and the East Mediterranean countries, which are emerging golfing destinations. "We are going to do it in a Greek style, keeping the maximum number of olive trees, and making the least impact on the landscape," said the late Mark Potiriadis in an interview published in The Observer in May 2005. It is hard to envisage such a large-scale development in what has been a sleepy part of the country. But Greece does seem to be waking up to the potential of the overseas property market to bring in investment to the local economy. Jack Nicklaus has been appointed to design a Signature Golf Course, whileKilada's  developer, Dolphin Capital Investors (DCI), is in final discussions with a leading resort operator for the management of the resort (for further information on this project, please contact INVgolf).

  • Kilada Hills Collection, Argolis, South-East Peloponnese: The brainchild of Kilada Hills Golf Resort started with the development of a much smaller project nearby, the Kilada Hills Collection, right on the sea and close to an established property investment area. A less-than-two-and-a-half-hour drive from Athens, or a mere 35-minute helicopter transfer, set among gently rolling hills, valleys, vineyards and family estates can be found the exclusive new retreat of Kilada Hills. The Kilada Hills Collection is a planned development of 11 striking contemporary houses masterminded by the late Mark Potiriadis. Right in front of these very high-end villas, one can swim in the clear blue waters of the Argolic Gulf. The late developer and architect was inspired by the site itself, he said, to build a collection of houses that draw inspiration from the Greek cube, with creations in concrete and glass. "Greek architecture is dominated by respect for neo-Classicism and folk architecture," said the late developer, who recently passed away. "There are few modern houses and Greeks have not been exposed to them. A lot of people are against these houses at first, but then they warm to them." The late developer spent 34 years practicing in the UK -- specialising in leisure resorts and free-form swimming pools -- before returning to Greece in 2000 to help the country prepare for the Athens 2004 Olympic Games. Kilada is located not far from Porto Heli, a two-and-a-half-hour jaunt by Flying Dolphin from Piraeus, while the islands of Spetses, Hydra and Poros are a sea-taxi ride away. The houses themselves are aimed at the top of the market, from 240 square metres of living space upwards, each including at least four bedrooms and bathrooms as well as home cinema, extensive terracing and an infinity pool. Everything is suitably high-spec, from the Pilkington K glass used in the floor-to-ceiling glazing and balustrades, to the fittings and furnishings from the likes of Phillipe Starck, B&B Italia and Duravit. There is underfloor heating and cooling, state-of-the-art security and technology and outside landscaping that will include a huge sum spent on mature cypresses and other trees. For a fully finished house including everything but the furniture buyers will pay around EUR 3,500 per m2. The showhome, with all its fittings and furnishings, is on the market for EUR 3 million. What is unusual is that only two of the houses are completed; the rest will remain as shells, allowing the buyer to decide exactly how they want each of the floors to be configured, where they want the pool, and to choose their own fittings. Buyers will also have the final say on what colour their house is painted: the two finished so far are a burnished orange and an acrylic blue. Early interest for the purchase of these properties has come from Germany, the Lebanon and the U.S. -- as well as Brits and Greeks. In November 2004, Kilada Hills won the 'Best Greek Development Award' and the 'Best Interior Design Single Unit Award' in the Bentley International Property Awards. The awards are widely accepted as being the Oscars of the property world and have the largest international representation of any recognised property awards (for further information on this project, please contact INVgolf).


Lavender Hills Golf Resort (photo courtesy of Dolphin Capital Investors)

  • Lavender Hills Golf Resort, Nies, Thessaly: Golfing Developments SA in co-operation with the Holy Metropolis of Dimitrias and Almyros as well as the surrounding municipalities in the Magnesia prefecture are planning to develop a high-end residential resort next to the small village of Nies (near Volos). The development is under the jurisdiction of the Municipality of Sourpi, one of the largest villages in Magnesia's Almyros province with a population of 4,450,and  will include an 18-hole Gary Player Signature course. The three-phase development concept -- which started to form shape in 2000-2002 -- includes a broad range of other facilities such as a full-service clubhouse, equestrian centre, winery and a spa. Perhaps the most unique component, which rings true to Greek agricultural history, is an existing olive press complex that will be renovated and operated to produce a Lavender Hills label. With direct beach access on Nies Bay, residents will also enjoy many sea sport facilities that will be constructed as part of the project. Lavender Hills will be the first fully-integrated resort to come to market in the region of Thessaly and will provide accommodation and facilities of the highest international standards. The idea is to create an idealistic retreat -- blending the finest  elements of lifestyle and Greek agricultural traditions with the natural beauty of the site. With beaches surrounded by natural forests; flat plains ideal for golfing along the water; and smooth upward slopes offering panoramic sea views to each residence, the site truly encompasses the best of all worlds. Climatically speaking, Thessaly is a golfer's paradise boasting warm summers, mild winters and an influential sea breeze. Taking into account the location alone -- close to Pilio Mountain and the Sporades islands --   Lavender Hills is expected to create a strong demand for second-home buyers throughout Europe. The Lavender Hills site, situated at the mouth of Pagasitikos Gulf, represents 294 hectares of unspoilt, undulating hills fronted by a 2 km. beach and surrounded by forest. It is accessible in approximately two-and-a-half hours’ drive from both Athens and Thessaloniki International airports. The resort is planned to comprise a hotel, more than 300 residential units, an 18-hole golf course, marina, beach club and other leisure activities (for further information on this project, please contact INVgolf).

  • Apollo Golf and Spa Resort, Soros, Volos: A good example of such a new multifaceted resort development in Greece that is currently in the pipeline is the Apollo Golf and Spa Resort (locally known as "Soros"), a major and important residential and holiday resort project planned for the Volos area. The Greek-Cypriot group behind this development is the Paraskevaides Group (Efthyvoulos Paraskevaides is the group's Executive Director), based in Cyprus. Just south of Volos, an Athens 2004 Olympic City, Athens-based ABP International SA, part of the Paraskevaides Group, is planning a EUR 250 million resort project that will include a hotel, villas, conference facilities, and a wide variety of recreational facilities, including a golf course, marina, and spa. The Greek government's Athens-based FDI agency dealt with improving the institutional framework, assisted in solving delicate forest issues related to the land under consideration, helped in setting the confines of the archaeological site of (Akropolis) Sorou, and intervened on behalf of the investors with the Mayors of Iolkos and Volos to solve issues related to municipal land use for the project's golf course and to facilitate procedures related to the general urban planning design of Volos. Part of the land belongs to ATHEX-listed Heracles General Cement Company SA, a member of France's Lafarge Group, the world leader in building materials. The site, a 373-acre plot of land, comprises a peninsula on the coast of Pagasticos Bay, with views of Volos to the north, Mount Pelion to the east, and the open sea to the south. The investors believe construction will commence in December 2006 and the resort will open at the end of 2008 or the beginning of 2009. It is estimated that the investment will create more than 800 full-time employment positions. Central to the project is a 150-room resort hotel (with plans to add 50 rooms in the future) to be managed by a well-known international group, 319 villas, townhouses, and apartments with a mix of freehold and leaseback units, retail shops, a state-of-the-art conference centre for up to 700 delegates, a complete thalassotherapy spa and health centre, an 18-hole championship golf course with full clubhouse, a 150-slip marina with yacht club (can expand to 250 slips), and a beach club and water sports area. Additional features include an affiliated beach club on the island of Skiathos, a short boat ride away, a mountain club on the Pelion peninsula, a heliport, and facilities to accommodate seaplanes. The nearest airport to this proposed resort is Nea Anhialos (Volos) airport, situated some 25 km. south of the site. The developers believe the unique complex will become a high-end European resort destination. The combination of built facilities, historical and cultural attractions, and natural resources will be sure to attract interest from all parts of the globe. The Apollo Golf and Spa Resort was selected by the Greek government as a fast-track project, reflecting the interest the government places on high-quality resort complexes such as the Apollo (for further information on this project, please contact INVgolf).

  • Margariti, Thesprotia: Albatross Investments and Developments is currently managing the development of Belltower Golf and Residential Development, an integrated Golf and Real Estate Project in North-West Greece. Located in 1,450,000 m2 of sweeping Mediterranean Tuscany-like panorama, the resort is being developed by a Greek-Australian consortium and will include an 18-hole golf course, clubhouse, 200-room 5-star hotel, restaurants, bars, convention centre, health centre, gymnasium, executive learning centre, tennis academy and soccer academy. Glen Alpine of Australia is also involved in this project, which is expected to commence construction in 2008. In future, golfers will be able to play golf on Corfu and go right across to the mainland and play in this mixed-use resort. Tony Cashmore (Antony Cashmore & Associates Pty. Ltd. - ACA) and Malcolm Davidson from Australia are involved in this new development, which is located between Pargas and Igoumenitsa. Napoleon Tsanis and Alex Hillston are Chairman and Vice-Chairman of Albatross, respectively. Two other projects are currently under negotiations (for further information on this project, please contact INVgolf).

  • Golf of Zante ("Gold of Zante Premium Golf Club"), Zakynthos: On the western side of Zakynthos island, planned by Sempach-Stadt, Switzerland-based Swiss Golf Invest AG, includes a 27-hole golf complex, a golf academy, a thalassotherapy centre, a 5-star hotel of 90 rooms, and 55 luxury bungalows. The EUR 45.3 million project includes two 18-hole golf courses, a 5-star luxury hotel, bungalows, a conference centre, health spa and marina. Howard Swan's design firm in the UK has begun the design of this 27-hole golf resort on Zakynthos. (for further information on this project, please contact INVgolf).

Brigitta Papastavrou
Brigitta Papastavrou,
Chair& CEO, Agrotouristiki SA

  • Close to Atalanti: A consortium of British and Greek-American interests is planning a EUR 2 billion investment in a residential golf resort development project near Atalanti, approximately 150 kilometres north of Athens, according to Brigitta Papastavrou, President and CEO, Agrotouristiki SA, a joint stock company formed to develop sustainable 'green' tourism in Greece. The project, which will span 1,200 hectares, will include three golf courses, hotels, 1,250 bungalows to begin with, and organic cultivations of olive trees, a vineyard and aromatic plants. Agrotouristiki is acting as technical adviser to the consortium which is now in the phase of compiling the project's file. The development will heavily emphasise on organic farming. Overall, Agrotouristiki's mission is to develop agrotourism in Greece through a number of strategies:
    - The development of a pilot agrotourism network in Greece (Agrotouring Hellas Net).
    - The strategic planning, organization, and monitoring of agrotourism activities.
    - The establishment of agrotourism certification based on high-quality standards.
    - The promotion of agrotourism and other alternative forms of tourism (including golf).

Sitia GolF Resort, Crete
Sitia Golf Resort, Crete (photo courtesy of DCI)

  • Sitia Golf Resort, Lasithi, Crete: Dolphin Capital Investors (DCI) has a 75% stake in Sitia Bay Golf Resort, a master-planned leisure-integrated residential development on the island of Crete, Greece. Sitia Bay is only a 10 minute-drive from Sitia Airport, a 1.5-hour drive east from Heraklion International Airport and a 15-minute drive from Sitia Harbour. The site is situated on a secluded peninsula of unspoilt natural beauty on the island of Crete, the largest of the Greek islands and the most popular Greek tourist destination with 2.2 million visitors in 2005. The resort is being designed as a sea-front master-planned, leisure-integrated development aiming for over 80,000 square meters of buildable residential units, a circa 200-room luxury hotel, a convention centre, an 18-hole championship golf course, a golf clubhouse, a beach & country club and other leisure facilities spread over a site in excess of 200 hectares.

  • Glyfada, Attica: The 18-hole golf course is in desperate need of renovation -- and possible expansion. Insiders say that at least EUR 3.5 million is needed to renovate this municipal course in the southern suburb of Athens. The mayor of Municipality of Glyfada is also President of the so-called "Dimotiki Etaireia" (Municipal Company of) Glyfada Golf that manages and is responsible for the course.

Markopoulo Equestrian Centre
Markopoulo Equestrian Centre (photo courtesy of Hellenic Olympic Properties SA)

  • Markopoulo, Attica: A new golf course is currently being examined at the Markopoulo Equestrian Centre, located near the Athens International Airport. The Olympic equestrian centre in Markopoulo, a rapidly-developing area of Eastern Attica, housed the Jumping, Dressage and the Eventing competitions during the Athens 2004 Olympic Games. The centre can be accessed by car via the Attiki Odos ring road or Lavriou Avenue. Athens-based Hellenic Olympic Properties SA, responsible for managing and developing the legacy of Athens 2004 Olympic Games, which comprise 22 venues across Greece, is dealing with all aspects of this project.

  • Matala Golf & Resort, Southern Crete: A new golf resort that can accommodate up to 3,000 people is currently being planned in the South of Crete, approximately 15 minutes from Aghia Galini. The tourism infrastructure in the southern part of this island is much less developed than the north of Crete. Belgian golf course architect Bruno Steensels of MasterGolf bvba in Belgium is designing the project's 27-hole (18 plus 9) golf course covering 900,000 m2, while Deloitte in Athens are the financial advisers to the Belgian developer and Athens-based J&P Development SA is currently investigating the particulars of the construction of this new development. Paul Nilend & Associates and Yannis Gianniotis are the resort's designers (for further information on this project, please contact INVgolf).

  • Municipality of Lambis, Rethymnon: On the isle of Crete, Emerald Developments SA is believed to have secured a plot of  160 hectares where it is planning a high-quality integrated resort. Greek-Cypriot businessman Photos Ja. Photiades Ph.D., Chairman of the Photos Photiades Group of Companies, Cyprus, is Emerald's Chairman. About the island, Dr. Photiades said, as quoted by ELKE: "Crete, is blessed with stunning landscapes, unique environment and natural beauty, hospitable people and rich history, mythology and culture. These are excellent ingredients for developing quality tourism with upscale resorts of unique character that could help Crete to stand out and be placed on the top of the list of quality tourist destinations in the world attracting high income level clientele from around the globe. With the above in mind, Emerald has secured, on the south coast of Crete, a charismatic piece of land - 160 hectares - on one of the best beaches of Greece, where is planning and integrated quality resort of exemplary high standards. With an investment of over EUR 310 million, the resort will consist of two 5 star luxury hotels, two spa facilities, a conference centre, an athletic centre, a village hub, etc and substantial luxury real estate." A press report dated February 13, 2005 in the To Vima daily mentioned that the total amount of investment was closer to EUR 200 million (not EUR 310 million).

  • Corfu: There are plans for the development of at least one golf course with residential communities on the magnificent isle of Corfu. Several plots of land are believed to have been acquired (or are in the process of being purchased) by well-known Greek and foreign investors and developers for this purpose. Today, Corfu only has one 18-hole golf course, the Corfu Golf Club. At the 2003 INVgolf European GOLF Investment and Real Estate Conference & Exhibition in Athens, Alan Egford, Greek National Team Coach, who works under The PGA Europe / R&A conclave of missionaries banner, said of this golf course: "If you have not played it, you should -- it is a place of rare beauty -- but it is drifting slowly into physical decline through lack of investment."

  • Kefalovriso, Corfu: A large plot with spectacular views overlooking the Corfu Golf Course is currently for sale, which is suitable for residential development. The site is situated above the village of Kefalovriso, approximately 10 km. west of Corfu town and the airport. The village of Kefalovriso and the immediate area have local facilities including shops and restaurants and are within a short drive of the excellent beaches at Ermones and Glyfada. The 76,230 m2 plot, has been divided into 17 permit-ready building plots with individual titles. Each 4,000 m2 plot has the right to build a 200-m2 home, excluding basement areas and covered terraces. The structure can be divided into multiple units, creating thus smaller semi-detached homes. The large plot size enables the development of external facilities such as swimming pools, tennis courts, terraces, gardens and parking areas. There is a tarmac road leading to the property. The plot has access to water and electricity connections to the property have been installed (for further information on this project, please contact INVgolf).

  • Hersonissos / Tylisos, Heraklion, Crete: The owners of The Crete Golf Club are currently in the process of acquiring plots of land that are located close to its golf course in Hersonissos. Future plans of Cretan Golf SA ("Kritika Golf AE" in Greek), the owner of the 18-hole, par 71 Championship standard course on a 720,000 square-metre site, include the construction of at least two more golf courses. The location that they consider ideal for the development of these additional courses is, for example, the Tylisos Municipality in Heraklion. The Crete Golf Club is owned by 43 local entrepreneurs, most of whom are hoteliers or have significant interests in the Greek hospitality sector. They invested just over EUR 16 million in the 180-acre development, which was designed by PGA Design Consultants and was inaugurated in July 2003. The Crete Golf Club lies approximately 23.5 km. east of the "Nikos Kazantzakis" Heraklion International Airport and 7 km. south of Hersonissos.

Greek Lifestyle Investments (GLI)

  • Arkoudi, Ilia, Peloponnese: Greek Lifestyle Investments (GLI), led by South African developer Dirk Hattingh, is planning to develop a EUR 60 million tourism and residential community on a plot of land owned by the Hellenic Ministry of Rural Development and Food (formerly Ministry of Agriculture) in the area of Arkoudi in the Prefecture of Ilia (for further information on this project, please contact INVgolf).

  • Olympia Resort, Ilia, Peloponnese: An investment of EUR 300 million on a plot of 2.4 million m2. The site offers a one-kilometer long white sand beach to the west, a canal to the east and the Alfios River to the south that physically links the site to ancient Olympia. Senior Golf Architect Guy Hockley, Faldo Design's London-based vice president of design, is working on a new course at this resort. With its headquarters in London, Europe remains an important focus for Faldo Design's activity and the firm is currently designing courses in Greece, Ireland, Russia and Cyprus (for further information on this project, please contact INVgolf).

  • Afandou: A new international tender for this existing 18-hole golf course on a 450-acre site by the sea on the isle of Rhodes is expected to be put out in winter 2005 by state-run Tourism Development Co. (formerly Hellenic Tourist Properties SA), the government agency established to oversee the development of the country's tourist properties. In 2002, during the previous (PASOK) government, the company put out an international tender to upgrade the property and create a viable and profitable resort centred around the golf course. Tourism Development Co. aims to attract private capital through a PPP (Public-Private Partnership) in view of jointly developing Afandou, substantially upgrading the existing facility and constructing and operating new related facilities (a second golf course, a golf academy, deluxe hotels and luxury tourist villas). A minimum investment of EUR 100 million would be needed to upgrade the Afandou property, which covers 1,800,000 square metres. In addition to the 18-hole golf course designed by Donald Harradine, Afandou features an unfinished two-story club house, a small hotel, swimming pools, and beach facilities. The previous tender allowed for the construction of new hotels, villas, commercial enterprises, and other sports facilities. At present, the Afandou course is considered to be a " low- to medium-quality property that has not fulfilled the expectations of the original developers" -- i.e. the Hellenic Republic (for further information on this project, please contact INVgolf).

  • Golf Omega, Maleza, Avlon: Local interests and land owners in the municipality of Avlon, Attica are currently seeking investors and international know-how to develop 963 acres of land close to the Athens-Lamia National Highway into viable golf and leisure facilities. The land in Maleza is owned by the Local Co-operative Association of Avlon, while the location is an exceptional one, being close to Athens and nearly adjacent to the prestigious high-income residential areas of Ekali, Kifissia, Politeia, Drosia, Rea, etc. (for further information on this project, please contact INVgolf).

  • Antipolis Golf Resort, Evia (mainland): The owner of a property of approximately 6.5 million m2 -- strategically located at a distance of only half an hour from the up-market northern suburbs of Athens and not far from Halkida -- is interested in selling 2.5 million m2 of this land to a buyer/investor who wishes to develop it into an integrated master-planned golf resort/leisure complex or luxury residential development with a to-be-constructed golf course. This area has easy access to the Athens-Lamia as well as Athens-Halkida national highways. Within the total area of the property, 1,200 acres are forestry land and the rest, 600 acres, are rural. The main characteristics of this beautiful area, which is owned by a privately-owned company that has already outsourced various studies (including a master plan), are: it is a large, continuous property with unlimited prospects for expansion; existing Greek "Z.O.E." (Residential Zone Control), which allows the following land uses in the non-forest parts of the land: A) residential development, B) tourist/hotel facilities, C) sports facilities, D) playgrounds/camps, E) farming storage and facilities. Furthermore, in June 2001, the local authorities of Evia also allowed the following land uses to be added to this: F) retail outlets, G) offices, H) exhibition/conference facilities. There is easy access to and from both national highways, which minimises the distance from the Athens International Airport (60 minutes) and the centre of Athens (40 minutes). The land has a distant view of Evia's Southern Gulf and has a rich natural heritage. Based on the above conditions of the land, an initial development proposal has been developed by the owners, which foresees the construction of the following facilities: two golf courses; a theme park; a botanical garden; luxury hotel units; a recreational centre; residential community; school; conference centre or conference resort; factory outlet; sports centre; rehabilitation centre; organic farming/cultivation and eco-/agro-tourism. It should be noted that in Greece, it is quite rare to find a plot of land of 2.5 million square metres close to the sea that has A) all the obtainable permissions for development, and B) is owned by ONE single owner, in this case a Greek, family-owned SA (Societe Anonyme). The landowner is interested in an immediate sale (for further information on this project, please contact INVgolf).

  • Arkoudi Island Resort: The tiny island of Arkoudi is located north of Cephalonia island in the southern Ioanian Sea to the west of the Greek mainland (between Cephalonia, Lefkas and Ithaca). The private isle resort was originally conceived as a de-luxe residential and hotel-isle of luxurious villas surrounding a majestic golf course on the isle's hilltop (for further information on this project, please contact INVgolf).

  • Lachania, Rhodes: The Mavromatis family is believed to be trying to put together a project in Lachania, which will include 500 stremmata (50 hectares) and a 9-hole golf course, which the family hopes to open in 2009.

  • Kos: Peter Coker is planning to develop a practice range on the isle of Kos. His plans are to start off with ten tees with the possibility of expansion (e.g. by building a double deck). He believes that this construction can be made out of wood -- if it is built on leased land -- or cement (if built on private land). The total amount of land required for the whole project is approximately 60 metres by 300 metres. The land will need to be fenced all round and will need a surface of grass or a man-made product to be able to collect the golf balls. Peter Coker has already found a piece of land for rent close to several large hotels in Mastihari, which he believes would be a suitable location. Golf courses receive  investment incentives from the Greek state, but not practice ranges. Peter Coker is determined to proceed with his project, even without government incentives or assistance. He is a local entrepreneur who has been living on the island for the past 20 years. The plot on Mastihari does not belong to the developer, but is hoteliers' land. The developer believes that the driving range can be up running in two months' time and is also considering either a Pitch and Putt or a nine-hole golf course on a plot of land of 100 'stremmata' (100,000 m2) at Antimahia  (for further information on this project, please contact INVgolf).

Seascape Hills, Argolis
Seascape Hills, Argolis (photo courtesy of DCI)

  • Seascape Hills, Argolis, Peloponnese: Dolphin Capital Investors (DCI) has a 99% stake in Seascape Hills, a master-planned leisure-integrated residential development situated in the region of Argolida. The site is situated near Porto Heli, an established second-home holiday destination for affluent Greeks, and is only a 10-minute drive from Kilada Hills Golf Resort, one of the first golf-integrated residential resorts expected to come to market in Greece. Nestled within the highest hills of the wider Porto Heli area, the site offers almost 360 degrees panoramic sea views and a serene environment, ideal for an exclusive, private getaway. The resort is intended to become an exclusive villa community including a luxury 40-room Aman hotel integrated with 30 Aman villas and spa. It will span over 100 hectares, of which approximately 50 hectares will be taken up by the Aman Resort and the rest will serve as a land bank for additional phases.

Zante (Zakynthos)
Zante (Zakynthos) (photo courtesy of DCI)

  • Islands and other regions: There are currently 20+ major Greek and Greek-Cypriot real estate developers that are in the process of developing or already constructing residential communities with a total of 1,000+  holiday homes throughout the country. Some of these new projects are located on the isles of Crete (Hania, Maleme, Kalatha, etc.), Spetses, Naxos, Paros and Rhodes (Lindos), but also in popular mainland destinations such as Xylokastro, Sounio (Pountazeza), Peloponnese, etc. For example, Aristo Developers (Hellas) has an established presence in the Greek real estate market. The Athens-based company has developed and marketed residential and commercial real estate in selective areas of Athens and has acquired attractive coastal properties, where it plans to develop exclusive residential developments. Notable examples include developments on the island of Syros (Megas Gialos), in Tsilivi on the island of Zante (Zakynthos) and at Douneika in the Western Peloponnese.

FURTHER INFORMATION

  • For further information on these and other developments, please contact Peter Michel Heilmann, Founder & Director, INVgolf.

[Top of Page]

USEFUL CONTACTS IN GREECE

Hellenic Golf Federation

Hellenic Golf Federation

Hellenic Golf Federation
Correspondence address:
P.O. Box 70003
GR-166 10 Glyfada, Athens
Greece
Tel.: +30 210 894 1933
Fax: +30 210 894 5162
E-mail (public relations): (Renee Pappas; office address: 7, Andrianou Street, GR-10555 Athens, Greece, Tel.: +30 210 321 4297, Fax: +30 210 324 7673)
URL: http://www.hgf.gr/
Offices:
33, Nikis Street
GR-105 57 Athens
Greece
Tel.: +30 210 322 0311 (Peter G. Doukas' office)
Fax: +30 210 322 0938 (Peter G. Doukas' office)
Board of Directors:
President: Peter G. Doukas, Deputy Minister of Foreign Affairs (address: 17, Ippokratous Street, GR-166 10 Glyfada, Athens, Greece; office tel. (Capital Partners SA, 26, Filellinon Street, GR-105 58 Athens, Greece): +30 210 331 5210, +30 210 322 6517; tel. (office): +30 210 324 9867; fax (Ormi Maritime Corp., 26, Filellinon Street, GR-105 58 Athens, Greece): +30 210 331 5218)
Vice-President: Yiannis N. Paraschis
General-Secretary: Dinos Petroyannis (mobile: +30 697 633 3500)
Alternate General-Secretary: Michalis Sideris
Treasurer: Eva Polychroniadou
Alternate Treasurer: Costas Tsaoussoglou
Member: Nick Koulis
The Hellenic Golf Federation was founded in October 1981. Its main goals are to promote and support the proliferation of golf in Greece. The Federation's activities are supported by the General Secretariat for Sports of the Greek Ministry of Culture and corporate sponsors. The Federation's dynamic president is Greek Deputy Minister of Foreign Affairs Peter Doukas. He became HGF's President in June 1999 and is determined to provide proper support for what he sees as the foundation of the country's golfing future. The HGF is member of the European Golf Association (EGA).

[Top of Page]

The PGA of Greece

The Professional Golfers' Assocation of Greece

The Professional Golfers' Association of Greece
90, Ethnarchou Makariou
GR-851 03 Afandou, Rhodes
Greece
Tel./Fax: +30 22410 52798
URL: http://www.greekpga.com/
Member Country of The PGAs of Europe (PGAsE)

Board of Directors (elected on September 4, 2005):

  • President: Vassilis Karatzias (Glyfada Golf Course, Athens)

  • Vice President: Eugene Papadopoulos (Glyfada Golf Course, Athens)

  • Captain: George Ginis (Glyfada Golf Course, Athens)

  • Vice-Captain: Manolis Nikitaidis (Schloi Elkhofen, Germany)

  • Treasurer: Gerd Schlembach (Afandou Golf Course, Rhodes) (Mobile: +30 693 636 3455)

  • General Secretary: Adam Sofronis (Glyfada Golf Course, Athens)

  • Vice-Secretary: Adonis Sotiropoulos (Elounda Golf Club, Crete)

The PGA of Greece's primary objectives are to promote and administer professional golf in Greece. In support of these objectives, the Greek PGA responsibilities are to:

  • Co-operate with the European & British Professional Golf Associations and PGAs of other countries and territories.

  • Arrange the Professional Greek Open Golf Championship, international matches and other events.

  • Co-ordinate the annual golfing teaching programmes of our members.

  • Act as the focal point for seeking formal Government and other major sponsorship for golf activities in Greece.

  • Co-ordinate the promotion and development of golf activities.

  • In collaboration with the Hellenic Ministry of Development (formerly Hellenic Ministry of Industry, Tourism and Commerce), promote Greece as a golf destination.

  • Manage the affairs of the Greek PGA to the best advantage of the Association and its members.

[Top of Page]

Jannis Patellis

Jannis Patellis, former president of the Greek National Tourism Organisation (EOT), is the author of a 1999 consultancy document in Greek ("The Strategic Framework of Regional Directions for the Development of Conference Tourism and Golf Infrastructure in Greece" on the development of conference tourism and golf infrastructure. Patellis, who now runs his own consulting business in Athens, can be contacted at:

J. Patellis Consultants - Ergomichaniki Ltd.
21, Dinokratous Street
GR-106 75 Athens 
Greece
Tel.: +30 210 729 1522
Fax: +30 210 724 5753
URL: http://ergomichaniki.com/

[Top of Page]

"Golf & Tourism in Greece" magazine

Golf & Tourism in Greece
2, Ag. Varvaras Street
GR-166 74 Glyfada (Attica)
Greece
Tel.: +30 210 898 1430, +30 210 968 0726
Fax: +30 210 898 1430
Mobile: +30 693 258 8777
URL: http://www.golf.gr/
Publisher: Alex Abravanel
Managing Editor: Ellie Abravanel Valsamidis
Published under the auspices of:

  • Glyfada Golf Club of Athens

  • Hellenic Golf Federation

  • The Professional Golfers' Association of Greece (PGA of Greece)

The Golf & Tourism in Greece magazine is the only publication in Greece that focuses on golf and at the same time promotes Greece as a new golf destination.

The magazine's circulation is 20,000. A total of 5,000 of these copies are mailed abroad to golf clubs and federations, travel agencies, golf equipment companies, golf investment enterprises and to many important golf personalities.

In Greece the magazine is distributed throughout the country to major Greek and multinational companies, banks, hotels, foreign embassies, government officials, golf clubs and schools.

The publication is a non-profit activity, its aim being the promotion of the game of golf in Greece. It encourages and facilitates contacts between interested parties, investors, landowners and construction companies. Published every three months in Athens and circulated free of charge, the magazine is a "labour of love". The publication's brainchild and charismatic Managing Editor, Ellie Abravanel Valsamidis, is one of the most pro-active promoters of golfing and golf development in Greece, both locally and internationally. She is Honorary Secretary of the Ladies Golf Club of Greece and Honorary Member of The Professional Golfers' Association of Greece (PGA of Greece).

[Top of Page]

Athens Golf Club (AGC), Glyfada

Athens Golf Club SA
Address: Terma Pronois Street (K. Karamanlis Avenue), GR-166 10 Glyfada (Attica), Greece
Tel.: +30 210 968 0140
Fax: +30 210 898 2497
URL: http://www.agc.gr/
Located right above the Glyfada Golf clubhouse, the Athens Golf Club offers its customers summer "plateaux" and winter rooms, which are available for weddings, birthdays or parties. In the same rooms, one can organise company events, congresses, presentations, etc. The elegant and luxury rooms vary in capacity, depending on the number of guests. The Van Gogh, Renoir and Mediterraneo plateaux cater for up to 500, 1,800 and 1,200 people for a banquet, respectively. The El Greco room caters for 30-250 people (banquet) and up to 350 for a cocktail party. The Leonardo Da Vinci room is capable of hosting 250-400 people (banquet) and up to 600 for a cocktail. The Pablo Picasso room, one of the largest of its kind in Athens, promises to accommodate between 300-800 people for a banquet or up to 1,800 for a cocktail.

AGC operates the canteen of the Glyfada Golf Club's clubhouse and offers golfers and non-golfers beverages, snacks, meals, lunch and an excellent service. In addition to this service, the Athens Golf Club runs a special outside catering department. All you have to do is welcome your guests; the AGC will take care of the rest, providing you with delicious dishes and excellent wines, served by experienced waiters.

Sources: Business File, a survey of the Greek tourism industry by Robert McDonald (March 2003), Business File (Building blocks, special survey no. 41, October 2001), INVgolf, INV International Ltd., Kathimerini English Edition, Dimitris Yannopoulos, Athens News business editor, Lloyd's List, AGC; Sasaki Associates, Inc. - Architects, Landscape Architects, Planners.

Last updated: May 25, 2008.

[Top of Page]

GORDI Foundation  |  E-mail  |  Disclaimer