Plans for €475-million ‘ultra-luxury’ tourist resort in Peloponnese announced

A development company has announced plans to construct a €475-million "ultra-luxury" tourist resort in the western Peloponnese.

The Hydra Rock company, which is chaired by billionaire shipping magnate Ioannis Vardinogiannis, submitted the plans to Enterprise Greece with the intention that it be deemed a strategic investment

The location of the proposed 175-hectare development is in the Vlacheika area. Most of the land lies within the mainland section of the municipality of Poros, with a small piece in the adjoining Ermionida municipality.

The company states that the project will follow the principles of sustainable development, energy conservation, bioclimatic architecture and the circular economy and will stimulate employment and the economy of the wider region.