Following the completion of all necessary legal procedures, and the successful execution of the transfer of 100% of the shares of SPV through the privatization program of the HRADF, the project has been officially approved and green-lighted, and is set to commence without delay.
The implementation of the project will significantly contribute to the long-term growth of the island’s economy through both the creation of new jobs, and by helping to attract further investment to the region. It will also play a major role in the regeneration of Corfu as a premium holiday destination.
The project itself is an investment exceeding €100 million that will create a luxury mixed-use resort of the highest aesthetic standards that is fully integrated into the natural landscape. Alongside a select number of deluxe residences, one of the world’s leading hotel operators will manage a high-star establishment within the resort.
The project focuses on sustainable and green development, with an emphasis on the protection, enhancement and improvement of the area’s abundant, natural wealth. This ethos has driven the selection and appointment of architects, engineers and consultants, who have all been appointed based on their expertise and specialization in environmental and bioclimatic designs – testament to NCH Capital Inc.’s commitment to the creation of a green, bioclimatic resort.
Throughout the design process, NCH Capital Inc. has shown a strong commitment to cooperating with local associates; something that the company intends to continue throughout all stages of the development - and the resort’s continuing operation.
Managing Director and Office Head for the Greece and Western Balkans branch of NCH Capital Inc., Andreas K. Santis, has stated his satisfaction that the project can now proceed as planned: "We are extremely pleased that such an important project for both Corfu and Greece as a whole can finally be realized. Our vision is to offer a unique lifestyle destination; a landmark development of national pride that will give impetus to the island’s growth prospects – creating new job opportunities for the local workforce, whilst helping to attract new investments."
As the project’s Investment Fund Manager, NCH Capital boasts extensive experience in international investment across Europe - with an emphasis on real estate development projects primarily in the basin of SE Europe. The company manages funds worth over $3 billion, making it one of the most active investment funds worldwide. Its headquarters are in New York, whilst it maintains a presence in all the countries where it operates.