The plot area is currently 80.000 square meters.
After the completion of the town planning, about 40% of the plot will go towards the construction of roads and common areas, and 60% will remain for the construction of the villas and houses.
This means 48.000 square meters will have the permit to build 11.520 square meters of buildings, plus verandas, plus basements. This results to 100 up to 120 houses, depending on the architectural design.
Time required for the completion of the private town process: approximately 18 months.
We have already issued a building permit and constructed 2 luxury villas in a small part of the plot as a “pilot project” with very good results in sale prices and demand. Sale price per square meter ranges from 4,350 to 4,950 Euro.
Alternatively, additional land (70,000sq.m.) can be acquired in the surrounding area at low prices in order to construct a “mixed uses” hotel of 15,000 sq.m. building area. 40% or 6,000 sq.m. of the area of the hotel can be sold as private villas and houses.
If the plot is going to be used for a hotel with its current size, a maximum of 16.000 sq.m. of buildings can be constructed, plus basements and verandas. It can be a 5 star hotel with bungalows and suites, with about 450 beds.