Message from the Regional Governor for the Peloponnese Petros Tatoulis

Transcription

1 PELOPONNISOS S.A.

2 Table of contents Message from the Regional Governor for the Peloponnese Petros Tatoulis...5 What is Invest in Peloponnese?...7 Why invest in Peloponnese?...7 Assets...11 Glykovrysi Real Estate Development...12 Karathonas in Nafplio Real Estate Development...15 Korinthos Real Estate Development...18 Porto Heli Real Estate Development...21 Vytina Xenia Real Estate Development...24

3 Message from the Regional Governor for the Peloponnese Petros Tatoulis As the first Greek regional authority to undertake such an initiative, the Region of the Peloponnese is paving the way for accelerating the process for attracting investment. Our aim is to tangibly and substantively contribute to the Greek economy s recovery something that will benefit all citizens through new jobs and enhanced incomes. Over the last two years, we have striven to create the Invest in Peloponnese program, which is funded by the Regional Authority, so that today we can finally reach out to potential investors. We have forged an excellent cooperation with the Hellenic Republic Asset Development Fund (HRADF), the Public Properties Company SA, the Directorate for the Armed Forces Real Estate Development (DAFRED), and Enterprise Greece. Our investment strategy has been shaped by an interdisciplinary team of experts that has evaluated specific and, initially only public real estate holdings in order to prioritise them. We plan to expand the program to include privately-owned properties and also target sectors other than tourism, the frontispiece of our strategy, such as agri-foodstuffs and services. Comprehensive real estate development reports have been compiled for priority properties that we intend to present and promote at every available opportunity and all relevant forums. This includes our participation in international investment shows, features in financial and other specialised publications, and familiarisation trips for potential investors. The Region of the Peloponnese, as a regional government authority, seeks to convey the message that we will help facilitate development initiatives at every step of the demanding process of realising an investment.

4 What is Invest in Peloponnese? Invest in Peloponnese is an initiative of the Region of the Peloponnese, the Regional Development Fund of the Peloponnese and the regional governor Mr. Petros Tatoulis, for the promotion of investment opportunities in the regional departments of Korinthos, Argolida, Arkadia and Lakonia. Messinia, the 5th department of the Region is an established investment destination in the tourism sector with TEMES SA as the leading investor in the area. With this initiative the Region of the Peloponnese aims to act as the local facilitator of direct investments in the Region with a focus on property development in the tourism sector, as a local partner of potential investors for the evaluation and planning of property development. Within this scope the Region of the Peloponnese has established an interdisciplinary team of experts under the Region s Development Company PELOPONNISOS SA to search, analyze, evaluate and point out property development investment opportunities in the Peloponnese, with a focus on state owned land in cooperation with the public legal entities managing the assets. Why Invest in Peloponnese? The Peloponnese offers an excellent opportunity for investments in the tourism sector. It is one of the most popular destinations in the eastern Mediterranean, while Greece is internationally-renowned as a country that offers both luxury and budget holidays. Lonely Planet voted the Peloponnese as the ideal year-round destination and the region includes some of travellers and travel writers top-ranked hotels in Europe such as the Westin Costa Navarino and Amanzoe. The region s tourism and cultural product is continuously enriched, while new infrastructure is being created to support the growing demand and dynamic shown by the Peloponnese as it diversifies with the aim of covering a broader range of thematic tourism. It is a land of exceptional natural beauty, with varied landscapes ranging from sprawling beaches with thick golden sand to snow-capped mountains and impressive forests which recommend it as an all-season destination. Onequarter of the Peloponnese has been designated as part of the Natura 2000 network of protected natural areas. The region s tourism product features marinas, rock-climbing parks, marked trekking paths, ski and diving centres among other facilities. The Peloponnese nurtured several important ancient civilisations in over four millennia of recorded history. Its wealth of cultural heritage monuments and archaeological sites includes five listed on Unesco s World Heritage List. The Peloponnese currently offers more than 37,614 beds as well as conference facilities, berthing for yachts and sailboats, direct air links to major European airports, and an extensive, wellstructured road network.

5 6. Exceptional sites available for tourism development Tourism is rooted in the uniqueness of each site available for tourism development (in terms of natural landscape as well as human-made environment). The Peloponnese has a large number of unexploited areas for tourism development because of its focus on other business sectors until recent years. 7. Political will to attract and advance investment 1. A unique destination In 2016, Lonely Planet, the world s biggest travel guides publisher, chose the Peloponnese as the top tourist destination in Europe. It combines the natural environment that made the Greek islands world-class destinations with unique cultural monuments and heritage identified with historical events and personalities known around the world. 2. Tremendous unexploited development capacity With just 1/10 of room nights compared to Crete and 1/4 to the Ionian Islands, it is a privileged region in terms of development capacity based on the number of beds per square kilometre. 3. A safe investment in precarious times Greece is historically a meeting point of western and eastern civilization. As a crossroad of cultures, following the country s character, the Peloponnese welcomes visitors from all over the world making them feel safe and comfortable. 4. New and enhanced infrastructure A state-of-the-art road network will be completed in the next few years, with sections already complete. The Peloponnese s primary highway, the Morea Motorway, has been completed and smaller-scale roads throughout the Peloponnese are in various stages of completion. Meanwhile, one of the major issues that has hamstrung the region s tourism development has been resolved through the privatisation of waste management (the contract is in the signing phase). 5. Competitive real estate prices and a pool of highly qualified human resources Real estate prices have dropped across Greece by about 40 per cent since 2007, including in the Peloponnese. There is also an available pool of human resources (with unemployment in the region at 17 per cent in July-September 2016), while wages have fallen by 20 per cent over the last eight years. The price of products and services are also competitive, following an overall deflation of 5 per cent since The Peloponnese Regional Authority will contribute actively to promoting specific investments as well as the destination as a whole. 8. Seeking strategic investors for long-term development The regional authority s aim is to attract a critical mass in terms of investment that will ignite the destination s development. This is why it seeks to facilitate an alliance of strategic investors who are prepared to invest in the destination s overall, long-term development. If such interest is expressed, diverse potfolios of public real estate could be formed to promote the simultaneous mixed development of infrastructure (e.g., airports, marinas, seaplane bases) and specialised tourism development (hotel units, holiday villas, theme parks, etc.). 9. Unique benefits for strategic investors Strategic investors who will early position themselves in such a massive, strategic and comprehensive investment will benefit from low real estate prices, availability of human resources and strong political will to promote investment and thus will have a strong speculative stake in setting off the virtuous circle in which they will act as catalysts. They will also reap mass and long-term benefits and hold a privileged position in future development.

6 ASSETS

7 Glykovrysi Real Estate Development Location The estate is located on the coast of the Gulf of Laconia, to the east of the estuary of the Evrotas River, West of the town of Molai and of the provincial road Kato Glykovrisi - Kokkinia. The property is in an area that today falls outside any city planning limits, characterized by natural beauty. Description of the Property The property consists of two distinct plots, the coastal ΑΒΚ 279, of ,33 sqm, and the ΑΒΚ 280, to the north of the first and separated from it by a communal farming street, of ,00 sqm. Infrastructure Glykovrysi is accessed by an adequate provincial road network, which is planned to be upgraded by the Region. By road, it is 55 minutes away from Sparti, Lakonia s capital, and 40 minutes away from Gythio, the largest nearby coastal tourist centre. From Athens and the El. Venizelos International Airport the property can be accessed by road in a 3-hour drive. Additionally the property can be accessed from Kalamata town of Peloponnese and its Captain V. Konstantakopoulos airport in a 1,5 hour drive. There is also an inactive airport in Sparti. The property can be accessed by private boats and yachts as it includes a fishing shelter marina. Furthermore two fully equipped marinas are located in Monenvasia of Lakonia and Pylos of Messinia. The closest port for commercial vessels is located in the town of Kalamata in Messinia, often used by cruise ships. The Peloponnese has an extensive railway network but it is inactive. Discussions are in place to promote investments to the existing network of the Eastern Peloponnese in order for the Region to be once again connected with Athens and Central Greece. The property is not serviced directly by electricity of telecommunication networks, which will need to be extended. It will also need to be connected to a sewage Treatment Facility (the closest ones being in Gythio, to the west, and in Monemvasia, to the north). The waste management system of the Region is under reorganization with a 170mil investment plan. Visitors of Glygovrisi have access to 3 near-by health centres and 2 general clinics of the Lakonia General Hospital. Banking and postal services are provided in the area.

8 Climate The climate is mediterranean, warm and slightly humid, yet in the summer months dry weather sets in. Temperature in the greater area averages from 23,3 ο C to 25,8 ο C during the summer with 9-11h of sun on average per day and from 10,9 ο C to 12,7 ο C during the winter with 3-6h of sun on average per day. Area 562,000 sqm. Buildable Area 48,200 sqm. Tourism, Holidays, Theme Park about Ancient Sparta The property is state owned and managed by the Hellenic Republic Asset Development Fund S.A. Monuments and Other Places to Visit In the vicinity of Glykovrysi, there is the Goulas hill archeological site and the Stefani prehistoric fortifications. A little further away, there is the archeological site of Agios Constantinos, the Gerantonia area, The Amykleon sanctuary and the Koufovouno hill, and, even further away, the archeological museum of Sparti. The picturesque Elafonisos and, further away, the Kastania Cave to the southeast, the fortress town of Monemvasia to the north and Mystras with its hill castle to the northwest are three nearby areas truly worth a visit. Gythio to the west offers intense tourist life. The villages of (Lakonia s and Messinia s) Mani, to the west and south of Gythio, are picturesque, too and the route from Sparti to Kalamata on the slopes of Taygetos is a beautiful drive. Beyond its own beach, Glykovrysi is lucky to be situated in the Gulf of Laconia which is known for its many beautiful beaches. All these promote tourism development in Lakonia with a concentration of hotels and other accommodation, restaurants and other businesses and places of tourist interest. Karathonas in Nafplio Real Estate Development Location Karathonas is a coastal property of near sea-level altitude in a privileged position: lying to the southeast of the emblematic Rock of Palamidi and stretching to the Chondros Cape of Nafplio. The whole area is characterized by increased tourist flows, especially in the summer, both due to the Rock and the view it offers but also because of the great beach. Description of the Property The Karathonas plot is sqm. It is mostly a level area but in the east it has some hills of sharper inclination. It has a low natural vegetation with the taller trees (plantation) being relatively concentrated in its center. The property includes a small docking facility where small private crafts can tie to transport visitors. All these promote tourism development in Lakonia with a concentration of hotels and other accommodation, restaurants and other businesses and places of tourist interest. The main investment proposal ideally speaking foresees a full 5-star hotel complex with bungalows and specialised tourism facilities. The proposed plot, of ,33 sqm, can offer a maximum of sqm building area, best allotted as: 5-star hotel and specialized tourism facilities m2 (minimum) and bungalows m2 (maximum). The basic planning foresees a classic sun-beach-sea approach combined with marine sports, nature tourism and cultural tourism. Alternatively, a thematic park/experiential area could be added focusing on Ancient Sparta and the warfare it is linked to possibly, battle re-enactments will draw crowds of the fans of this kind. As another alternative, this estate could be combined in an investment portfolio with the inactive airport of Sparti (and or other public properties), to structure a broader investment proposal that will develop its own unique co-sustained dynamic.

9 Climate Area 425,00 sqm. Regarding accessibility of the plot, Karathonas is served to a pretty good extent, due to its proximity (5 km) to the center of Nafplio, an urban center, administrative capital of Argolida and tourist hub, but also the former capital of modern Greece. Four major road axes, the Tiryntha-Mykines street, the Argos-Nafplio that joins the two towns, the Nafplio-Epidavros and the old national highway Nafplio-Tripoli, serve Nafplio and Karathonas. All the road network that connect the property to Nafplio and surrounding areas is in good condition. From Athens and the El. Venizelos International Airport, Karathonas is an 1h 50m drive (138km). From Kalamata and the Captain V. Konstantakopoulos airport, the property is an 1h 45m drive away (151km). Tripoli s town airport which is located 63 km away from Karathonas is of military use only. The plot includes docking facility for small private crafts. The port of Nafplio of 1.100m docking Infrastructure facilities can accommodate crafts of 6m draft. A ppp scheme is underway to build and operate a modern marina in Nafplio. Lastly, Tolo 300m docking station is located 14,4km away from Karathonas. The railway system can only partially serve the property as, coming from Athens, it approaches up to Korinthos (in the north) and then veers westwards towards Kiato and, later on, Xylokastro. There is a functional (inactive since 2011) line, that of Korinthos Argos Nafplio, for which institutional discussions are in place to be re-energised. Five local routes are suitable for a walk or bicycling as the Municipality of Nafplio offers bicycles for free use. These are Banieres - Arvanitia, Arvanitia -Karathonas, Karathonas - Chondros Cape, Karathonas - Karathonas Cave and Karathonas - Tolo. Networks of electricity, telecommunication and sewage cover sufficiently the plot area. The climate is Mediterranean, warm and dry during the summer. Temperature in the greater area averages from 25 o C to 28 o C during the summer with 10-12h of sun on average per day and from 8,1 o C to 11,5 o C during the winter with 4-6h of sun on average per day. Monuments and Other Places to Visit The property is within a culture hub. In the greater Nafplio area 170 archaeological sites and monuments are located. With a 30min drive one can visit the Palamidi Castle, Ancient Assini and Tirintha archaeological site, an UNESCO listed monument of the world s cultural heritage. With a 60min drive the operational ancient Great Theatre of Epidaurus (Epidavros), the Sanctuary of Asklepios, also an UNESCO listed monument, the Mycenae (Mykines) archaeological site, the ancient theatre of Argos, the Castle of Larissa and the prehistoric settlement of Kantia Irion can be accessed. In the broader area, there is ancient Corinth with the Diolkos, the archeological site of Sikyon, the Kesimia area, the Rachi Boska and the Stimangas area that contain monuments of regional significance and, even further away (90-120min), the Ireon area, the ancient Thouria, the Akovitika archeological sight, the Sanctuary of the Afissio Community, the Amykleo Sanctuary, Kastraki, the Koufovouno hill and the Spilies hill with the Mycenaean domed graves. Buildable Area 74,200 sqm. Tourism, Holiday Residences, Sports, Leisure The property is state owned and managed by the Hellenic Republic Asset Development Fund S.A. The main investment proposal refers to a 5-star hotel accompanied by mild development of part of the surrounding area. The hotel s building area can cover up to 72,000 sqm. In the case of the development of a resort, the buildable area could be up to 52,000 sqm. Sports facilities and shops conclude the investment proposal, as they are expected to increase the number of visitors and expected revenue. The main idea runs on the lines of typical sun-and-sea tourism, enriched with alternative thematic tourism, city tourism, touring the area, conventions and marine sports. Alternatively, the option of a portfolio of properties in and around Nafplio for tourism investment and development could lead to a strong positioning in the Region of the Peloponnese.

10 Korinthos Real Estate Development Location The property is the former 6th Infantry Regiment of Lieutenant Colonel Kalogerogiannis Camp and is situated to the south part of Korinthos city (1200 meters from its center), on the New National Korinthos Patra Highway, to the east of the Korinthos Argos National Highway and the north of Olympia Highway very close to the station of the Suburban Railway. Its position is privileged regarding accessibility as highways and railroad are at its doorstep while the Korinthos port and fishing shelter marina are 1,8 km away. Description of the Property The property plot area is sqm and it has an orthogonal shape and a level surface. As a former military camp, it is walled and fenced all around (with the entrance/gate to its western side) while including buildings such as office spaces, soldier s chambers, various dining facilities. Infrastructure The property is fully accessible via all transportation means. It is serviced by a modern road network both from the North and the South. The Athens Korinthos Patra National Highway serve the main volume of visitors and passer-bys, and, to a lesser extent, the Korinthos Tripoli National Highway and the Korinthos Argos National Highway complete the basic axes of the road network. The railway network joins korinthos city and the property quickly with Athens and the El. Venizelos International Airport via the Athens-Attica Suburban Railway. Institutional discussionsare in place for the reopening of the Korinthos - Nafplio line and for the construction of the Korinthos Tripoli Kalamata line. The Korinthos train station is 1200 meters away from the property. As for air travelling, the El. Venizelos Airport of Athens is used exclusively as it enjoys quick road and train access, with travel duration 55min and 1h and 15min respectively. Tripoli s airport which is the closest to the property and approximately a 45min drive away, it only serves military aircrafts. Efforts are made to evaluate the feasibility of its transformation to a civil airport. Sea access is served by the Korinthos port, situated close to the west end of the Korinthos Canal. Furthermore, Korinthos can be served by the Pireas port in the east, Kalamata to the southwest, Nafplio to the south-southeast, Gythio to the south and by the port of Patras to the west as concerns Italy and central/western Europe. The construction of a marina is being considered, while a fishing shelter marina is available for small private crafts docking. Korinthos also has a bicycle route (indicatively, Xirias and Kalamia Posidonia) the expansion of which is currently under study. As an urban property, it enjoys full access to electricity, telecommunication networks and it is connected to the Korinthos-Loutraki Sewage Treatment Facility. Both Korinthos and the property will benefit from the future natural gas line Aghii Theodori Megalopoli. The Region s new waste management facility ppp contract is expected to be signed within spring 2018.

11 Climate The climate is Mediterranean, warm with relatively dry summers and warm winters. Temperature in the greater area averages from 24,8 o C to 27,2 o C during the summer with 9-12h of sun on average per day and from 10,2 o C to 11,7 o C during the winter with 3-6h of sun on average per day. Monuments and Other Places to Visit The Ancient Corinth Archeological Site, with the impressive Roman Agora, the Lecheo street and the Sanctuary of Apollo, the castle of AcroKorinthos, the Kraneo basilica and the Asclepiio, the Lecheo port on the Korinthian Gulf with its own basilica are located within a 30min drive distance. Nafplio, Tiryntha, Epidavros with its spectacular Theater and the Asclepiio and Mykines with its cultural acropols and the domes graves are the main sites to the south whereas Kiato, Xylokastro and Kalavryta with the Execution Monument, the Skiing Center and the monasteries of Mega Spileo and Aghia Lavra are those that stand out westwards. In a min drive distance to the north, the Canal, Loutraki and the Ireo are sites in a close proximity to the property. Area 298,000 sqm. Buildable Area 60,000 sqm. Tourism, Residences, Sports, Leisure The property is state owned and managed by the Directorate for the Armed Forces Real Estate Development Porto Heli Real Estate Development Location The property is located to the north of the coastal village Porto Heli, one of the most exclusive high end vacation homes destination, on a natural harbour next to the ruins of the ancient town of Alieon, in southern Argolida. Description of the Property The property is an exclusive plot of ,84 sqm, situated 300 meters from both the coast of the Portoheli bay and the coast of the Ververonta lagoon. The property is consisted of a flat southern part and a more orthogonal hilly northern part offering great views to the sea, and it is crisscrossed by small roads that connect the surrounding settlements. The vegetation of the plot is sparse and low with single tall trees. The proposal refers to the construction of walled-in luxury residences or a vacation village/hotel for privileged visitors, accompanied by the construction of a park and leisure faculties for any kind of visitor. Up to sqm can be built that can easily accommodate sports facilities, spas, restaurants, bars and other entertainment venues. It could include other activities, such as conventions. The renovated wall of the former camp will offer limited access to the outsiders and a feeling of increased security and privacy to the residents while its proximity to the train station and the main road axes offers easy transportation to any point of interest and Athens. Investment can target two categories of clients. Individuals or groups of them interested in the Golden Visa program or individuals or groups of them such as pensioners interested in c=vacation homes close to Athens or for relocation during pension life. The Korinthos investment proposal aims to attract tour operators, investment funds with a sound presence in the tourist sector or specialized companies that accomodate citizenship or visa to foreigners due to property investment.

12 Climate As in the whole of Argolida, the climate is Mediterranean, warm, with especially dry summers and rather humid winters. The area is rather sunny all year long averaging from approx 5h/day during the winter and 12h/day during the summer while the temperature averages form 25 o C to 26 o C during summer time, and from 8 o C to 11.5 o C during the winter. Monuments and Other Places to Visit Ermioni and Epidavros with the famous Theater and the Asclepios Sanctuary are the two closest places to visit in a min drive. Further away (60-90 min drive), the rest of Argolida stretches out with Nafplio, Tyrintha, Argos and Mykines with the Acropolis and the domed graves. Area 627,000 sqm. Buildable Area 51,300 sqm - 41,300 sqm. The property is state owned and managed by the Hellenic Republic Asset Development Fund S.A. Infrastructure The road network that serves Porto Heli and the property consists mainly of two roads: the provincial road Lygourio Porto Heli and the provincial road Porto Heli Costa which connect with the Athens Tripoli National Highway through the Nemea and/ or Stena exit and the Athens Patra National Highway through the Isthmos junction towards Epidavros. The property is approximately 200 km away from Athens and the El. Velizelos International airport (a 2,5h drive) and 220 km away for the Captain V. Konstantakopoulos airport of the Region of the Peloponnese at Kalamata (a 3h drive). The closest airport to the property s area is the military airport of Tripoli, for which efforts are made to be transformed to a civil airport. Current special planning and zoning of the property includes a small airport for charter flights, both commercial and private. Porto Heli s port is 1km away from the property. It serves small and large private crafts and yachts as well as commercial boats connecting Porto Heli with Athens via Piraeus port, and the Islands of Hydra and Spetses which are minutes away Porto Heli by boat. The property is not served directly by railroad as the nearest train station is in Korinthos, approx 1.5h drive away. The reopening of the Korinthos Argos Nafplio line, currently under discussion, would benefit significantly both Porto Heli and the property. The area is good for cycling with the main routes being for Pyrgos Ellis, the banks of the Ververonta lagoon and towards Costa. Electricity, telecommunication and sewerage networks are satisfying in the Porto Heli area. Waste is currently managed by the Municipal Enterprise of Kranidi but the Region s new waste management facility public-private partnership contract, is expected to be signed within spring The development scenario for the Porto Heli property includes a 5-star hotel resort with bungalows and either additional tourism facilities such as a golf course and a casino, or a small airport that could serve the greater Argolida and the Islands of Hydra and Spetses. Porto Helli is a high end summer destination for both domestic and foreign tourists, with excellent natural resources, exclusive and private environment and day to day culture, distinctive for marine tourism, touring and nature loving activities. The Porto Heli investment proposal aims to attract tour operators, airport, casino or golf course managing companies, investment funds positioning in the tourism industry or hotel managers with an international focus.

13 Vytina Xenia Real Estate Development Location The property is part of the Municipality of Gortynia at the Arkadia department of the Region of the Peloponnese. Gortynia is a complex of beautiful and historical villages, such as Dimitsana, Stemnitsa, Lagadia, Levidi, Valtetsiniko and Vytina, a place of distinctive natural beauty at Mount Mainalo. The property is located at the area of Kambea or Kaminia of the former community Kato Magouliana of Vytina. Vytina is a popular winter destination of the Municipality of Gortynia, situated at a m altitude of Mount Mainalo. It is surrounded by spruces, pines and chestnut trees. Mount Mainalo skiing center, 16km away from the property, is one of the two operating in the Region of the Peloponnese, while the Mainalo trail of 75 km and 8 routes/parts, is the first certified trail of the European Ramblers Association. Close by Lucios small river and its small canyon can move even the most fanatic city lovers with its magical sceneries and natural beauty. Ladonas river with its 55m canyon is also in vicinity. Description of the Property The Vytina Xenia property is located on a plot of ,00 sqm of which ,56 sqm is a part of a forest. The building is a former hotel consisting of two separate structures on the tilted part of the plot facing the road. One building, has two levels, a flat roof, is of orthogonal shape and hosts the guests rooms. The second one, pi-shaped is sporting a tile-roof, accommodates all the additional spaces of the hotel and the staff rooms. The buildings are of a total area of 1.223,00 sqm. The whole complex has been designated to be preserved as traditional, due to its distinctive architecture designed by the architect Aris Konstantinidis and is part of the portfolio of the Xenia Hotels all around Greece. The Xenia of Vytina has a total capacity of 20 spacious rooms and 40 beds. The property has and additional building capacity of 2.681,49 sqm. Infrastructure The main road access to the property is through the Tripoli Pyrgos National Highway via Ancient Olympia and Vytina. The area of the property borders to the north with the Old Tripoli Pyrgos National Highway (currently Bypass ) to a length of m. Vytina is accessed easily through the Korinthos Tripoli National Highway passing the Artemisio tunnel. Both these main road axes and all others that interconnect with them are in satisfactory condition. The property is located 189 km away from Athens (2h and 17min drive) and its El. Venizelos International Airport and 138 km from Kalamata (1h and 37min drive) and Captain V. Konstantakopoulos airport. Also efforts are made for the Tripoli s military airport which is located just 50km away from the property (48min drive), to be transformed to a civil airport. Due to its central positioning on the mountainous complex of the Peloponnese, there is no nearby port/ harbour and so Vytina is serviced mainly by the Nafplio harbour to the east and secondarily by Patra to the northwest and, by Pireaus to the northeast. Equally, there is no direct train service in the area as the most convenient station is at Korinthos (quite distant by car or bus). If the former Korinthos Argos Tripoli line is reactivated as institutional discussions evaluate relevant possibility, it would serve the property s access by train, even more, the future construction of the line Korinthos Tripoli would do so. The area has electricity and telecommunication networks. The area is served by a water distribution system and a sewage system but does not have a Sewage Treatment Facility. The Region s new waste management facility public-private partnership contract, is expected to be signed within spring 2018.

14 Climate The climate is mountainous with mildly warm and rather dry summers and relatively cold winters with ample rainfall and snow. Temperature in the property area averages from 22 o C to 24 o C during summer time and 0.9 o C to 2.8 o C during the winter. The area is rather sunny, averaging from 5h per day during winter time and 11h per day during the summer. Area 37,500 sqm. Buildable Area up to 3,905sqm. Hotel & Holiday Resort/Residences Coaching tourism The property is state owned and managed by the Public Properties Company S.A. Monuments and Other Places to Visit In Vytina, the visitor can walk the tree-covered alley Street of Love, visit the Vytina library, its People s History Museum and the quarry producing the black marble, admire the local carpentry and enjoy the local produce, such as dairies, pasta, honey, herbs, walnuts and pulses. The historic monasteries of Kernitsa and Agii Theodori are in the vicinity, as is the Pafsania spring. The two local rivers, Loucios and Ladonas, are good for canoe-kayak and rafting. Within a 30-60min drive through the road system the visitor may choose among Ancient Tiryntha, Argos (archeological museum and ancient theater), Mykines and Ancient Corinth to the east and northeast, Dimitsana (the gunpowder factory that supported the War of Independence of 1821 is something definitely worth seeing!), Stemnitsa and Ancient Olympia with the authentic Olympic Games facilities to the west and Kalavryta with its two historic monasteries, the skiing resort, the Monument of the Execution and the Lakes Cave. The investment proposal includes restoration/renovation of the existing hotel complex without substantial architectural interventions so as to preserve its esthetic value. The internal rearrangement of the rooms is possible, uniting every two doubles to create spacious and luxurious apartments. Any such move though will have to be granted permission by the Ministry of Culture. The additional building capacity of a 2.681,49 sqm implies feasibility and satisfactory return on investment. A study for the addition of another two-storied building, shaped as the letter Γ in the same architectural rhythm as the two existing ones, of a total building area of 820,00 sqm has been approved by a Presidential Act as of 1979 according to national law, fact that could facilitate an initial licensing procedure. Investment proposal targets hotel chain owners, investors from Greece and the Diaspora focusing on mountainous Arkadia, investment funds with a track record in the tourism industry, or specialized companies of the tourism or consulting sector that could develop it and run it.

15 PELOPONNISOS S.A.