he abandoned former royal estate at Tatoi, northwest of Athens, will be undergoing a face lift after the Greek Culture Ministry and the country’s public assets fund (TAIPED) inked a deal on Tuesday.
The agreement paves the way for the conversion of the Tatoi estate into a mixed-use space which will include tourism and culture facilities as well as recreational areas, and mild cultivation activities in the estate’s vineyards and olive groves.
Greek authorities are expecting the revamped estate to become a major tourist destination attracting more than 1 million visitors a year.
The second phase of the redevelopment project concerns the restoration and utilization of buildings on the estate for accommodation, F&B, and recreational services with an initial budget of 25 million euros, the ministry said.
Commenting on the news, National Economy Minister Kostis Hatzidakis said the upgrade and utilization of a section of the former royal estate would contribute to the protection of the natural habitat and modern architectural heritage and boost state coffers.
The future of the Tatoi estate was discussed during Greek Prime Minister Kyriakos Mitsotakis’ visit to the Dumfries House estate in Scotland in 2022 during his meet with Charles III, king of the UK.
Source: tovima.com
Latest News
Greenhouse Gas Emissions: 4% Decrease in EU, 0.3% Rise in Greece in Q4 2023
The EU's GDP remained stable with a marginal 0.2% increase in fourth quarter of 2023
HEREMA CEO: High Expectations from Natgas Exploration Off Crete
3D seismic surveys were conducted in the two offshore blocks west and southwest of Crete by a consortium comprised of ExxonMobil and HelleniQ Energy
EC Spring Forecast: Greek GDP at 2.2 in 2024, 2.3% in 2025
Besides Greek GDP inflation is expected to drop by a substantial 2.4% in 2024, settling at 2.8% from 4.2% in 2023 with 2025 recording a further decline to 2.1%
EBRD Raises Outlook for Greek GDP to 2.3% in 2024, 2.6% in 2025
Key downside risks remain, associated with possible delays in deploying Recovery and Resilience Facility (RRF) funds and weaknesses in key export markets and tourism source countries
Real Estate Insights: Athens’ Top Areas with the Highest Yields
In the first quarter of 2024, Korydallos in the Piraeus region and the burgeoning Attiki Square retain their top spots with impressive yields of 6.3%
ELSTAT: Inflation at 3.1% in April
Olive oil (63.7%), fruit (11.6%), fish (10.6%), and mineral water (12.5%) registered the highest increases annually
Greek Sunlight CEO Joins Industry Titans at Choose France Summit
At the heart of the "Choose France Summit" was the discussion surrounding the production of lead-acid and lithium-ion batteries, crucial for the green transition and storage of renewable energy.
Insights into Greece’s Real Estate Landscape; Consumer Expectations and Challenges
The study indicates that while 66% of Greeks find recent real estate price hikes concerning and liken them to a "bubble," over half (56%) still anticipate further increases.
Athens in Top 10 Best Value City Breaks
Every year, Post Office Travel Money compares the costs of short breaks in cities across Europe for UK holidaymakers
Athens Int’l Airport: Americans Lead Total Passenger Traffic in Q1
According to the data processed by AIA, the top 10 in foreign arrivals are dominated by Americans, followed by the British and Germans. Other top nationalities include Cypriots, Italians, French, Dutch, Israelis, Poles, and Turks.