“Little Elliniko” is gaining momentum

A Greek presidential decree, published in a government newspaper, approves a special territorial development plan for the state-owned real estate (ΕΣΧΑΔ) of a 345-acre former US base in the Gournes area of ​​Hersonissos municipality, Crete.

The publication of the decision completes a long process that includes the approval of the initial and updated strategic environmental impact study (ΣΜΠΕ), the development by the Ministry of the Environment and the approval by the State Council of the draft presidential decree (ΕΣΧΑΔΧΑ).

ΤΑΙΠΕΔ is holding a tender for the development of a 345-acre land plot with a deadline for submission of binding bids set for July 15th. Also during this period, a tender is held to select an independent appraiser until May 24 to determine the fair value of real estate.

The project attracts significant interest from construction groups and development companies, foreign investment funds, as well as Greek and Greek-American businessmen working in Crete.


The Gambling Supervision and Control Committee (ΕΕΕΠ) is expected to hold a tender for a casino license at a later date. The presidential decree provides for the construction of a casino in Zone II, which is a tourist and entertainment area, with an area of ​​316.4 thousand sq. and a building factor of 0.15. More than one group of companies has already expressed interest in a casino license in Crete, including a large French company that operates dozens of such units in Europe.

In total, two land use zones are included. Zone I with an area of ​​29,113 sq.m. which was used as theme parks, shopping malls, recreational centers. And on a much larger area (316 454 sq. M.), Zone II is a tourism and recreation zone, with mild activities that harmoniously fit into the natural environment.

Good investment prospects

The investment prospects of the property are based on the fact that the area where it is located has a modern infrastructure of superior importance and scale, such as the International Exhibition Center of Crete, Cretaquarium in ΕΛΚΕΘΕ, University of Crete, Science and Technology B. ΠΕ. Heraklion, Heraklion Nikos Kazantzakis International Airport and a golf course. It is also located on the Northern Road of Crete (BOAK), 16 km from the port of Heraklion, 13 km from Heraklion Nikos Kazantzakis State Airport and 10 km from the extremely popular tourist town of Hersonissos.

The project of using the former base dates back to the beginning of 2000. In 2011, the state-owned real estate company announced a tender for expressions of interest, and the tender held in the summer of 2014 ΒΟΑΚ was canceled. Despite the “gift” for the land plot, two companies transferred 30 acres.

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