Another key step has been taken toward the realization of a major tourism investment on the Greek island of Ios, spearheaded by Greek-American entrepreneur Angelos Michalopoulos. The Environmental Committee of the South Aegean Region has issued a positive opinion on the approval of the luxury resort project, moving it closer to implementation.
According to the official decision, the committee granted its approval under specific conditions and requirements proposed by the Cyclades Department of Environmental Sustainability.
What the Investment Plan Includes
The investment involves the development of an Integrated Tourist Resort across a 566-acre site in the area known as “Koumbara – Diakofto – Faros.”
The plan outlines the construction of approximately 20 fully furnished tourist residences of various sizes, as well as a five-star hotel with a capacity of 74 beds. More specifically, the resort will include 14 residences ranging from 280 to 300 square meters, and six larger residences, each around 500 square meters. Altogether, the complex will have the capacity to host over 200 guests.
According to the Strategic Environmental Impact Assessment, the aim is to create a development of mild tourist intensity, incorporating complementary uses and interrelated functions, forming a spatially cohesive unit on the island’s northwest side.
Two More Developments on the Horizon
In addition to the current project, the company is planning two more major investments on Ios, bringing the total budget to 200 million euros. According to the Calilo Group, the second project involves another Integrated Tourist Resort in the area of Pikri Nero. The third project will include the development of a resort with a capacity of 280 beds and 80 fully furnished residences.
