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TECHNICAL DUE DILIGENCE: “CLUB MED” - “IKOS ARIA” | KEFALOS-KOS MUNICIPALITY

LOCATION: KEFALOS-KOS MUNICIPALITY

AREA: 19.1 ha.

CLIENT: IKOS DEVELOPMENT S.A.

PERIOD: 2016

The Technical Due Diligence was prepared for the technical maturity of the property, with a view to its transfer.

The hotel unit includes a four-storey classic hotel and scattered residences.

The existing hotel unit operated from 1984 until 2007.

Licensed in 2006 for 880 beds with 4-stars.

An environmental impact study was submitted for the licensing of 1130 beds.
Permitted building: 31,404 sq.m.
Existing building: 23,506 sq.m.
Arbitrary constructions arranged by Law 4178/2013: 78 sq.m. Building balance: 6.820 sp.m.
Issues due to land acquisition, forestry and housing construction within the 50 m zone from the seashore to the licensed gauge were clarified.