The Hellenic Republic Asset Development Fund (HRADF) has declared the company “INMO PARCK INVEST S.A.” as the Preferred Investor for the development of the property “Koniavitis Thermal Spring & Camping” in Greece.

The property spans 593,061.75 square meters and is divided into two areas, A and B.

1. Area A is an expanse located beyond the urban planning zone, encompassing 520,515.65 square meters and boasting approximately 1,200 meters of seaside frontage. As indicated by the approved Spatial Development Plan (ESCHADA) study, it permits Tourism and Leisure uses, including tourist accommodation, specialized tourist infrastructure, facilities catering to Thermal Springs, marinas, staff residences, shops, social welfare amenities, sports and cultural facilities, religious sites, healthcare facilities, catering establishments, entertainment and recreation centers, parking areas, exhibition facilities, helipad, sewage treatment plant, etc.
2. Area B is a parcel outside the urban planning zone, spanning 72,546.10 square meters and housing the thermal springs "Mylos Koniavitis" and officially recognized "Kallyntikon." Designated for the promotion of thermal springs, Area B is subject to the Spatial Development Plan, defining special uses like personal hygiene areas, changing rooms, a guardhouse, canteen, tanks, pumping stations, etc., along with outdoor parking facilities.

As per the Tender terms, Area A is open for sale, while Area B is designated for a 50-year long-term lease. The proposed offer from "INMO PARCK INVEST S.A." is as follows:

• Area A: EUR 9 million (USD 10 million); and
• Area B: EUR 1.6 million (USD 1.8 million).

The Preferred Investor plans to invest a minimum of EUR 200 million (USD 217 million) for the comprehensive development of the property, including the coastal front and thermal springs. The proposed investments encompass tourism and leisure facilities, such as a luxury hotel, residences, wellness amenities, shops, and the establishment of a marina infrastructure.