By GRReporter
Emir of Qatar Hamad bin Khalifa Al-Thani has bought the Island of Oxeia in the Ionian Sea together with five smaller islands, which belong to the Echinades group of islands. The total price of these properties is approximately 8.5 million euro. They were privately owned and the municipality of Ithaca in the Ionian Sea plays only an administrative role there. The area of Oxeia is 4,200 km2, for which the Arab magnate paid 4.9 million euro. The other five smaller islands have a total area of 1,600 km2 and were sold for a total of 3.5 million euro. The area of Oxeia is 4,200 km2, for which the Arab magnate paid 4.9 million euro. The other five smaller islands have a total area of 1,600 km2 and were sold for a total of 3.5 million euro.
Ithaca’s
mayor Yiannis Kasianos told Mega TV that the Emir wanted to buy one
island in the Ionian Sea for each of his 24 children. They are from
three marriages and he has 11 sons and 13 daughters. This information
has not been confirmed but Greek media report that Khalifa Al Thani has
been visiting the Ionian Islands for years. According to Kasianos, the
Emir has promised that if the transactions for the purchase of the
islands were smooth, he would invest around seven million euro in the
building of a network to supply affordable water from the Astakos bay to
the island chain.The news of the sale of the island chain has provoked mixed feelings in Greece. Some are stressing the return of investor interest whereas others perceive the deal as a sale of Greek land. The website for ecological news and development econews.gr chose to spread the news with the ironic title "United Arab islands of the Ionian Sea." Ithaca’s mayor stresses that the sale of the islands does not involve the government and that the property was originally privately owned. Small island areas often are purchased primarily for investment purposes rather than for making them a personal oasis. Although a large part of the Echinades group of islands is under protection, some of the islands can be built.
Meanwhile, the government has announced that Athens will establish a Greek-Qatari investment fund. It will have an initial capital of one billion euro and its establishment was agreed during the last meeting of Prime Minister Antonis Samaras in Qatar in January.
The
Chief Executive Officer of Qatar Holding, Ahmad Al Saged will meet with
Deputy Minister of Economy Notis Mitarakis, who is in charge of
international investments. Both parties will consider a number of
investment projects in tourism, energy, real estate and agriculture.
Businessmen from Qatar are seriously interested in taking part in the
privatisation programme of Greece. Qatar was a candidate for
privatisation of the old Athens airport in the neighbourhood of
Elinikos, but later withdrew under the excuse that there were too many
bureaucratic obstacles for the transaction. Financial Times reports that
the emirate is interested in buying the five-star public tourist
complex near Astera Vouliagmenis. The same publication notes that Qatar
is considering the possibility of buying the stake of National Bank of
Greece in the Turkish Finansbank as well. "The use of public property not only will bring revenue to the treasury, but it will also positively influence the investment climate in the country, which we greatly need," states economist Haralambos Gotsis.
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