The Greece Fund is acquiring undervalued properties in the historic center of Athens, aiming to renovate and enhance existing hotels to capitalize on the growing tourism market.

Information on the Target

The investment involves the acquisition of properties located in the historic heart of Athens, at the foot of the Acropolis and the Temple of Athena. This prime location is of significant cultural and historical importance, making it an attractive prospect for various types of development.

The deal includes the renovation and enhancement of existing hotels in the Psiri neighborhood, which is known for its vibrant atmosphere and growing tourist appeal. The hotel under consideration will feature 35 guest rooms, a commercial floor, and a rooftop area that promises stunning views of the iconic landmarks.

Industry Overview in Greece

The Greek tourism sector has been on a steady upward trajectory, especially following the challenges posed by the pandemic. In 2023, Greece continues to experience a surge in international arrivals, d