KG advised CBE Capital Ltd in its transaction with Iktinos Hellas S.A. in relation to the latter’s coastal site at Sitia, Crete, paving the way for its development into an ultra-luxury resort with branded residences and a private marina.

Parties entered into a preliminary binding contract, whereby they agreed CBE Capital to transform the existing development plan for the Sitia site into a five-star luxury / ultra-luxury resort with branded residences and marina facilities, with a view to attracting third-party investors and securing an exit route for Iktinos within a defined timeframe.

KG advised CBE Capital on all Greek law aspects of the transaction and continues to assist CBE Capital by, inter alia, drafting the transactional documentation, while going forward with the finalization and implementation phase of the project.

The project was overseen by our Managing Partner and client partner for CBE Capital John Kyriakides, and was lead by Partner Apostolos Georgantas, who acted as sole legal advisor to CBE Capital in Greece.