The Mitsis Group, which emerged as the highest bidder in the public tender conducted by the Hellenic Republic Asset Development Fund (HRADF/TAIPED), is planning a strategic investment exceeding €50 million on a property of approximately 450 acres in Kamena Vourla, central Greece. The investment is expected to significantly reshape the area and contribute to its repositioning as a major destination for thermal tourism and high-end hospitality.
The property includes the hotel complex "Galini" and the "Hippocrates" hydrotherapy center, both currently in operation under the Mitsis Group. Additionally, it contains the historic hotels “Radion” and “Thronion”, designed by the architect G. Molfesis, which have been designated as modern monuments, as they exemplify the architectural trends of the interwar period and the Bauhaus school. The site also includes the abandoned “Asklepios” hydrotherapy center.
A key natural asset within the estate is the “Georgalas” thermal spring, officially recognized as a natural healing resource since April 2020.
The investment vehicle—comprising Galini Hotel, Tourist and Commercial Enterprises S.A. and Staritem Investments PLC—was the sole bidder in the tender process. The consortium offered a lump sum of €1,050,000, slightly above the €1 million minimum set in the call for proposals, along with an annual lease payment of €380,000.
Land Use Provisions and Development Rights under the Approved ΕΣΧΑΔΑ
According to the approved Special Plan for Spatial Development of Public Property (ΕΣΧΑΔΑ), the property is divided into separate sections, each with specific land uses and development constraints:
Section A (10,140 sq.m.) – Tourism and Recreation Zone (Outside Urban Plan)
Permitted uses include restaurants, sports facilities, spa/wellness activities, and light coastal protection works.
- Maximum buildable area: 700 sq.m.
- Maximum coverage: 10%
- Maximum building height: 3.5 meters
- Minimum distance of 50 meters from the shoreline, with specific exceptions permitted.
Section B (161,009 sq.m.) – Main Development Area
This area includes the existing hotel facilities ("Galini", "Radion", "Thronion") and hydrotherapy centers ("Asklepios", "Hippocrates"). The plan provides for a redistribution of buildable and communal spaces, creating four development sub-zones:
- Zone A: Buildings for special uses such as hospitality, cultural venues, dining, and conference infrastructure.
- Zones B & C: Public parks and pedestrian pathways totaling over 77,000 sq.m., accessible to the public.
- Zone D: A 2,678 sq.m. parking area, designed according to regulated standards.
- Floor Area Ratio (FAR): 0.3
- Maximum coverage: 30%
- Maximum building height: 8 meters
- Special protections apply to the designated modern monuments.
Sections C & D (Total: 26,825 sq.m.) – Protection and Enhancement Zones for Thermal Springs
These sections are designated for the preservation and promotion of thermal water sources, with planned tree planting and strict development limitations, especially given that parts fall within a designated Wildlife Refuge.
Section E (258,940 sq.m.) – Protected Forest Area
This section is subject to intensive environmental protection and is largely classified as absolutely protected forest land. Within this section is the "Georgalas Reservoir", a recognized natural thermal resource. A 4,659 sq.m. core protection zone is defined around the spring, with strictly limited construction allowed, specifically:
Single-story auxiliary buildings up to 800 sq.m., to support the operation of the spring and wellness infrastructure.
Protection Zones for the "Georgalas Reservoir" Thermal Spring
To safeguard the spring and its hydrological system, three concentric protection zones have been defined:
- Zone I (4,659 sq.m.): Absolute protection zone, prohibiting any activity that could pollute or reduce water output.
- Zone II (1.8 sq.km.): Activities that pose a risk of chemical or microbiological contamination (e.g., septic systems, fertilizers, livestock units) are prohibited.
- Zone III (2.65 sq.km.): A broader buffer zone where certain activities are allowed but regulated; quarrying, landfills, and industrial facilities are strictly prohibited.
Additionally, other thermal springs in the wider area—including “Vourvoulaki”, “IGME”, “GP-4”, and “GP-8”—fall under the same protection regime, although they have not yet been officially recognized as thermal resources.
