REDS SA secured the acquisition of a sprawling property situated on the former US military base in Gournes, Hersonissos, on Crete Island. The total sum of 42.2 million euros was tendered for acquiring the property and its management rights via an e-auction, signifying a substantial investment by the company. REDS SA is well-positioned to embark on ambitious and transformative ventures as a subsidiary of the Ellaktor Group, a leading infrastructure firm in Greece and Southeastern Europe.
Distinguished by its involvement in real estate development, medium and large-scale retail and entertainment, office, mixed-use, exhibition, conference, and residential projects, REDS SA is poised to collaborate with international and domestic investors over the next five years to execute a series of ventures. Among these projects is creating a luxurious hotel, conference space, residences, and a shopping centre, with a projected budget exceeding 210 million euros. The development is anticipated to bolster the Greek state coffers significantly.
The property in Gournes spans an impressive 345,567 square meters and is idyllically positioned along a stretch of sandy beach, conveniently located 13 kilometres from the Nikos Kazantzakis Airport, 16 kilometres from Heraklion, and 20 kilometres from Crete’s new airport, currently under construction at Kastelli. The company can develop a casino on the premises as part of the agreement. Notably, the property presently accommodates the Hellenic Center for Marine Research, the CretAquarium “Thalassokosmos,” and the International Exhibition Center of Crete, adding a rich tapestry of offerings to the locale.
The investment in Gournes of Heraklion is anticipated to emerge as one of Crete’s most prominent tourist projects in the forthcoming years. It is poised to attract substantial domestic and international investments and is expected to draw a significant influx of tourists, making meaningful contributions to the enhancement, promotion, and economic development of Crete and, by extension, Greece’s economy.
A proposal for establishing a casino in Gournes is slated to be submitted to the Gaming Supervision and Control Commission (GSC) to initiate the license issuance process, aligning with the standards set for the casino in Greece. Upon receipt of the plan, the tender process is estimated to culminate within six months, hinting at the likelihood of the Gournes casino opening its doors to local and international visitors by the next tourist season.
