ATHENS, Greece--(BUSINESS WIRE)--Regulatory News:
The Azur Selection (ISIN: GRS528003007 Mnemonic: MLAZR) (Paris:MLAZR), a Greek hospitality company recently listed on the Euronext Access + market in Paris, announces a major new tourism development in Greece with the future construction of a 5-Star resort on a 7,5 hectare site in the Peloponnese region.
“This project is an important milestone for the company as it is the first following our recent listing,” says George Arvanitakis, founder and Director-Administrator of The Azur Selection, “a listing which greatly enhances our ability to achieve the ambitious plans we have for our operations.”
An impressive resort with 300 rooms and an extensive range of facilities is planned for a coastal site located between Patras and Aigio. The investment is estimated at €40 million.
About The Azur Selection
The Azur Selection invests in hotels and commercial real estate through a lease and sublease business model and operates an investment management business through its subsidiaries and associated companies. It focuses on investing in hotels, hospitality and real estate in selected highly commercial geographical areas in Greece, the French Riviera and elsewhere. It currently manages a portfolio of commercial real estate and hotels in Athens and on the island of Mykonos while maintaining long-term leases with the companies or users of its properties. Its portfolio includes 5 hotels (3 are subleased to a hotel operator and 2 are fully managed), as well as a shopping centre. The group is managed by experienced executives with knowledge of the Greek and international real estate market.
The Azur Selection S.A. (MLAZR) is listed on the Euronext Access + market in Paris.