The Regional Council of Crete on Thursday approved the strategic study of environmental impact for a tourism investment by Mirum Hellas at Elounda, eastern Crete, amounting to 450 million euros.
This is a very important and positive development for the implementation of the project, as the objective of the investors is to get things moving in early 2020. After the approval and signing of the study, the drafting and approval of the special zoning plan for strategic investments and the town planing study will follow, opening the way for the issue of building permits.
Mirum Hellas, which belongs to Russian property investor Vitaly Borisov, has already invested about 70 million euros in the Elounda Hills project. It has acquired scores of plots of land that now form a single seaside plot of 1 square kilometer and six plots around it totaling another 200,000 square meters.
The main plot will host a 200-bed five-star hotel, whose operation by Four Seasons or Fairmont is currently the subject of ongoing discussions. The complex will also include a marina for 200 boats.