«Scarlet Beach»

Arab strategic tourism investment of €201 million in Argolis moves forward

New steps are being taken towards the implementation of a major tourism investment of over €201.5 million, involving the construction and operation of a modern and luxurious mixed-use tourism complex (Complex Tourist Accommodation) in the Porto Heli area, along with residences that will be offered for sale.

The investment is being carried out by the company "SCARLET BEACH – HOTEL & TOURISM ENTERPRISES SINGLE-MEMBER S.A." with the distinctive title "SCARLET BEACH," which is of Arab interest, as we have mentioned before. Specifically, the Environmental Impact Study (EIS) for the construction and operation of the project "Establishment and Operation of a Complex Tourist Accommodation in the location of 'Petrothassa' in the Municipality of Ermionida, Regional Unit of Argolis" by SCARLET BEACH SINGLE-MEMBER S.A. The new complex of buildings will house a 5* Tourist Complex with a capacity of 388 beds, while there are plans to create a conference center, spa, gym, restaurants, and other related infrastructure..

Distribution, structure, port infrastructure

It should be noted that in 2024, the project was designated a Strategic Investment. In fact, as a recent development, a presidential decree dated 12-07-2025 has been issued for the project under study, entitled "Approval of the Special Spatial Development Plan for Strategic Investment (ESCHASE).

The project concerns a property consisting of seven (7) properties wholly owned by the company "SCARLET BEACH S.A.". From the original property owned by the company "Scarlet Beach" with an area of 234,686.46 m², the areas between the boundary lines of the watercourses passing through the property (9,622.48 m²) and the beach zone (7,545.95 m²).

According to the Presidential Decree of 12-7-2025 approving the ESCHASE, the tourism investment will be implemented on a property with a total area of 217,518 sq.m. According to the approved ESCHASE, the location of new port infrastructure in front of the property is permitted. The infrastructure can accommodate vessels with a maximum length of up to 40 m and an estimated maximum number of thirteen (13) vessels.

According to the EIA, the total permitted building area is 26,102.16 m² and is distributed as follows: 60% of the permitted building area, i.e. 15,661.29 m², concerns the construction of the main tourist accommodation, while 40% of this, i.e. 10,440.87 m², concerns Furnished Tourist Accommodation (FTA). In accordance with the provisions of the ESCHASE and the above permitted sizes, it is proposed to construct and operate a 5* tourist accommodation facility with a capacity of 388 beds. In terms of coverage distribution, the tourist accommodation (main hotel, non-main tourist accommodation - adjacent bungalows of the hotel and special tourist infrastructure in the field of wellness and rejuvenation (SPA), dining and leisure areas (restaurants, playground, refreshment areas, etc.) will occupy 68-70% and Furnished Tourist Residences (FTR) the rest.

The units

Based on what had been previously announced, the investment involved the creation of a 5-star hotel with a capacity of 100 beds, as well as 15 holiday homes and corresponding leisure facilities.

The complex consists of a number of buildings that correspond to accommodation areas, common areas, catering areas of sanitary interest, and auxiliary areas supporting the hotel's operation. The buildings are developed on one or two levels depending on operational needs. Their placement aims to create protected outdoor spaces that follow the movement of the sun and offer different possibilities for use during the day and for enjoying the view of the natural environment. The complementarity of the uses and functions of the proposed Investment, with the simultaneous differentiation and specialisation of tourist accommodation according to the STK user group to which it is addressed. Specifically, the core of the hotel facility and related functions is located in the central part of the Property.

The furnished tourist residences are located in lower densities in the southern and northern parts of the property. The interconnection between the functions is achieved effectively on the property, through, among other things, internal vehicle and pedestrian traffic. In addition, the complementary nature of the uses (residences, hotel, tourist port, and other functions) ensures the joint, organized coverage of water needs, solid waste management, and wastewater management and reuse, etc.

The basic principles governing the design of this investment plan are energy conservation, the integration of renewable energy sources, a high degree of energy autonomy, water consumption savings through certification (LEED gold), the installation of a desalination unit with pumping from the sea, irrigation water savings through the optimal selection of plants with low irrigation requirements, the installation of an efficient irrigation system, and the reuse of treated wastewater. In addition, attention is paid to the orientation of buildings, shading, openings, and the orientation of openings (solar gains, natural ventilation, and natural lighting), the building envelope with low heat capacity coefficients – low-emissivity (low-e) glass panes – thermally insulated and thermally broken window frames.

Project location

The proposed project is a coastal property facing the coastline near the settlement of Petrothassa (approximately 1.5 km away), in the bay of Kranidi in the municipality of Ermionida, as shown in the following diagram. The study area is located approximately 5.6 km north of the tip of Aimilianos and 7 km south of Kranidi (seat of the Municipality of Ermionida), while it is 77 km southeast of Nafplio.

The budget

The budget for the implementation of the investment plan includes the initial estimate of the cost of constructing the building facilities (construction, equipment, furniture, utensils), the cost of landscaping the surrounding area, the cost of other infrastructure works (not including the tourist port facility), and the cost of studies and consulting services. It should be noted that the budget for the implementation of the investment plan includes a contingency allowance of 10%. The total cost of the investment plan amounts to approximately €201.159 million, of which more than €162 million relates to buildings and facilities, €16 million to equipment, furniture, etc., €4.5 million to studies, permits, project management, etc., and nearly €18 million for unforeseen expenses.