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06 Jun 2012

UK's Minoan Group 'confident' over Crete resort development plans
BY Pete Hayman



Image: The site is located in the locality of Itanos

UK-based Minoan Group has expressed confidence over the future of its proposed leisure development on the Greek island of Crete, despite the country's ongoing political uncertainty.

In March, the company submitted an application to be included in the Fast Track process - a framework to accelerate projects considered to be in Greece's strategic long-term interest.

However, May's Greek elections failed to yield a government and a second election is now taking place on 17 June, which Minoan Group said had delayed the development process.

A spokesperson said: "Greece is currently awaiting the outcome of a second election, to be held in June, inevitably slowing almost all bureaucratic processes.

"However, the board remains confident that the project's full potential will be realised in due course. The country has a long-standing tradition in the leisure industry combined with superb natural resources."

A site spanning more than 6,000 acres (2,428 hectares) within the locality of Itanos and on the Cavo Sidero peninsula is the location of the proposed scheme.

According to Minoan Group, the resort development will include spas and wellness centres; cultural facilities; and a "multitude" of land and water sports activities.

Minoan Group also said that Six Senses Resorts and Spas "intends to join the project" as the operator of one of two flagship hotels proposed as part of the scheme.

Details: www.minoangroup.com (Greece Update)
Details: www.minoangroup.com (Fast Track Application)
Details: www.minoangroup.com (Crete Project Details)

Image: Marc Ryckaert


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