The Hellenic Republic Asset Development Fund (HRADF) announced the two winning bids submitted for two properties in Afantou, Rhodes.

The winning bidder for the Golf–North Afantou property is M.A. Angeliades Inc., at 26,900,000 euros, and for South Afantou property is T.N. Aegean Sun Investments, at 15,200,000 euros.

According to HRADF, the use of properties in Afandou is one of the largest development projects in the country, given that the total investment is expected to exceed 300 million euros, whereas the environment will be fully protected and an emphasis will be given on modern tourist infrastructure strengthening further Rhodes as a tourist destination and leading to the creation of new jobs.

Both properties cover about 161.5 hectares (136 and 25.5 respectively), of which 53 belong to a golf course that will be upgraded for 50 years.

The development project exempts in its entirety an area of 28.6 hectares as a zone of absolute protection of the natural environment, which includes a forest and archaeological zone as well as wetlands zone.

The rest of the area will be used to build high-class hotels and a small number of luxury vacation units. The buildings will not exceed 151,000 square metres.

Regarding the regional airports, HRADF announced it had approved the final draft of the leasing contract on regional airports and soon the tenders will be called to submit their bid.