Govt cites approval of tourism-related investment worth €408 mln in eastern Crete

Naftemporiki — An inter-ministerial committee tasked with overseeing “strategic projects” on Friday approved a foreign direct investment worth 408 million euros for the Aghios Nikolaos district of eastern Crete, following a favourable recommendation by the Enterprise Greece agency.

Although few details have emerged, the investment was characterized as “tourism-related”, including hotels, a conference center, a marina, spa, sports facilities, restaurants, shops and holiday homes.

Of the total figure cited, 50.4 million concerns real estate purchases that have already been made, and the rest being construction costs.