x

Economy

Belterra Investments to Buy Porto Carras Hotel for 205 Million Euros

April 15, 2020
ANA

THESSALONIKI – Belterra Investments Ltd, a member of Savvidis Group, has reached an agreement in principle with Technical Olympic SA to buy the historic Porto Carras hotel complex for 205 million euros and the deal is expected to be formally completed soon, maybe in the next days or even hours, sources said on Wednesday.

Sources close to the deal told the Athens-Macedonian News Agency that Belterra Investments Ltd of Savvidis Group is expected to make official announcements within the next 24 hours. Technical Olympic SA officially informed the Capital Market Commission that negotiations between its subsidiary T.O. International Holding Ltd and the Savvidis Group over the sale of Porto Carras SA have been completed in principle and that a full due diligence is expected to be completed.

The sources said that the coronavirus pandemic did not deter Ivan Savvidis from continuing his interest for investments in tourism. Savvidis has already won a 40-year leasing contract for the Macedonia Palace hotel in Thessaloniki and a 99-year ownership of a 230,000 sq.m. area in Paliouri, Chalkidiki (where the Xenia hotel is located).

RELATED

ATHENS - Greek public debt totaled 357,295 billion euros at the end of the third quarter of 2021, from 337,666 billion in the corresponding period in 2020, Hellenic Statistical Authority said on Friday.

Top Stories

Church

BOSTON – The Holy Synod of the Patriarchate of Alexandria in its recent meeting dealt with the ecclesiastical coup perpetrated by the Patriarchate of Moscow in its canonical jurisdiction, calling it an “immoral invasion and intrusion.

Church

NEW YORK - Some 21 years after it was destroyed in the September 11, 2001 terrorist attacks in the United States that brought down the Twin Towers in New York City, the new St Nicholas Greek Orthodox Church rising in its place is among the most eagerly awaited architectural openings of 2022.

Events

STATEN ISLAND, NY – For yet another year, the community of Holy Trinity-St Nicholas in Staten Island honored couples celebrating 50+ years of marriage with a modest ceremony held at the church immediately following the Divine Liturgy on January 16.

Video

Greece: Heavy Snowfall is Expected on Monday, Schools to Remain Closed in Attica (Vid)

ATHENS - Schools of all levels of education will remain closed throughout Attica on Monday and Tuesday, January 24-25, due to extreme weather conditions.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. abc@xyz.com

You may unsubscribe at any time using the link in our newsletter.