Elounda Hills € 800 million development enters construction phase

The € 800 million Elounda Hills development in Crete has entered its first phase of construction following the signing of Early Contractor Involvement (ECI) agreements with construction firms AKTOR S.A. and Domiki Kritis. Located on the northeastern coast of Crete near Elounda, overlooking Mirabello Bay, the project represents one of the largest tourism and hospitality investments currently underway in Greece. Once completed, Elounda Hills is expected to become one of the Mediterranean's luxury destinations.

The mixed-use development will feature a wide range of luxury hospitality, residential and leisure facilities. Plans include a five-star hotel, residences and villas, a state-of-the-art marina capable of accommodating superyachts, retail and commercial areas, restaurants and entertainment venues, wellness and spa facilities, sports and recreational amenities, cultural spaces and extensive landscaped public areas. The project is being designed as an integrated luxury destination that combines high-end accommodation with lifestyle, maritime and recreational offerings.

The significance of Elounda Hills extends beyond Greece, as the project is expected to strengthen the country's appeal to wealthy international travelers and investors. The development is anticipated to generate substantial economic benefits through job creation, increased foreign direct investment and enhanced infrastructure, while also elevating the Mediterranean's luxury tourism offering.

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Elounda Hills €800m Project Moves into Construction Phase  28 April 2026