Grivalia Development was established in the summer of 2024 with the purpose of undertaking the implementation of Grivalia Hospitality’s projects, primarily those located in Petalioi and Mykonos.
Panos Panagiotidis, who was one of the founding executives of Dimand as well as of Inventio Edge Development, a company of the HIG fund, reportedly maintains the role of independent advisor for the company’s two projects.
It should be noted that the “Six Senses Megalonisos” project, a €250 million investment and the most advanced in terms of permitting, is currently awaiting the issuance of the Presidential Decree, which is expected around mid-2026. Meanwhile, the second project, “Blue” in Kalo Livadi, Mykonos, remains on hold, along with a number of other ambitious five-star developments that had been planned for the island, due to the ongoing suspension of building permit issuance in Mykonos.
