Sheikh Tahnoun bin Zayed Al Nahyan to Create Six-Star Hotel in Athens and Acquires The Ermioni Club in Porto Heli

Main Photo: The property in Athens

Date: July 2021

Name: TBA

Locations: Dionysiou Areopagitou Street, Athens and Porto Heli, Greece

Number of Keys: TBA

Seller: The property in Athens, used to belong to the businessman and major investor of the Stock Exchange, Giannis Tzivelis and was auctioned off by a bank.

Buyer: Sheikh Tahnoun bin Zayed Al Nahyan, the son of the founder of UAE and a major investor in real estate, purchased the prominent property on Dionysiou Areopagitou street in Athens, which had been auctioned a few months ago. He also purchased an old hotel in Porto Heli.

Starting early next year the property in Athens, with plenty of views of the Acropolis, will be transformed into a luxury accommodation and the hotel in Porto Heli will be transformed into a six-star hotel.

For those who are familiar with how the Sheikh manages Royal Group UAE, a group of dozens of companies, with a turnover of US$75 bn, his activity in Greece does not come as a surprise.

The property on Dionysiou Areopagitou str, one of the most expensive streets in Athens, used to belong to the businessman and major investor of the Stock Exchange, Giannis Tzivelis. It is located at the junction of Areopagitou and Makrygianni streets, and it was auctioned off by a bank. The price at which it was purchased by the Sheikh’s companies has not been made public. The five-storey building will be transformed into luxury homes for high-income residents, and it will also host two prominent foreign restaurants, such as Cipriani.

The Ermioni Club, an old hotel in Porto Heli, covers an area of ​​220 square kilometres and was purchased last year, as the location is ideal. A luxury six-star hotel, private villas and renowned restaurants will be set up there.

THPT Comment: Greece certainly is the flavour of the month, with residences in Athens and retreats on the islands being snapped up….we have an enticing wellness, development opportunity.

First Seen: Aura Real Estate

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