The inaugural phase of construction for the new Elounda Hills resort, situated in the picturesque Mirabello Bay within Agios Nikolaos, Crete, is set for conclusion by 2027, bumped back from an initial target of 2026.

The major investment by the Mirum Group, which in its entirety is likely to exceed 700 million euros including the land acquisition, encompasses high-end hotel units, apartment complexes, villas, a botanical garden, restaurants, retail outlets and a marina.

The marina, construction which is expected to be completed within two years according to the timetable, will have a total capacity of 202 berths accommodating vessels of various sizes ranging from six meters to 70 meters.

One innovation billed by the developers is a “commitment to holistic sustainability”, namely, taking into consideration elements of sustainability during the planning and construction phases as well as to its subsequent operation, with a pledge of “zero waste”.

While work for the extensive tourist project has started, including the establishment of a worksite for the private marina, publication of a mandatory urban planning study and environmental impact assessment study in the government gazette (FEK), is pending. The latter will allow a commencement of primary work and a finalization of licensing.

Mirium CEO Angelos Angelidakis raised the issue of the licensing process, which has long been plagued by considerable delays, during an even co-hosted by Enterprise Greece and Deloitte on the sidelines of the 33rd MIPIM in Cannes.