40 Million Euro ‘Small Hellinikon’ Project Signed for Crete

Greek company REDS S.A. has been awarded the development of the former U.S. base in Gournes, Heraklion, Crete, for 40.2 million euros, the country’s privatizations agency announced.

The Hellenic Republic Asset Development Fund (HRADF) said that the sale was conducted through the process of electronic auction and that the board will soon convene to ratify the e-auction result.

Dubbed the ‘Small Ellinikon”, after the development of the former Athens international airport, the asset is considered to be a key item in the country’s privatizations agenda.

The real estate property of Gournes consists of a beachfront land plot of 345,567 sqm located 13km from the airport “Nikos Kazantzakis” and 16 km from Heraklion. During the last 20 years, land plots neighboring the property have been developed, the Hellenic Centre for Marine Research, the Cretaquarium Thalassocosmos, the International Exhibition and Conference Centre of Crete, etc.

The tender, which follows years of delay, comes amid an emerging investment and building boom on Crete, the Mediterranean’s fifth-largest island.

Long one of Greece’s leading tourist destinations, Crete welcomes more than 5 million visitors a year and boasts several world-class tourist attractions like the Minoan era Knossos Palace, the legendary site of King Minos, and the Minotaur. Over the last two years, foreign investors have engaged in a number of deals and resort projects on the island.

In 2020, Hines acquired five hotels on Crete and Russia-based developer Mirum began work on its long-awaited Elounda Hills resort project in the summer. U.S. investment fund Blackstone recently acquired the Elounda Blu hotel in Crete – its sixth hotel property in Greece – through its Spanish subsidiary Hotel Investment Partners.

At the same time, the Greek government is investing billions of euros to upgrade Crete’s transport and power infrastructure. Work has recently begun on a new 1.5 billion euro international airport in Kastelli — located about 20 kilometers from Gournes – and is expected to be in operation by the end of 2023.

Also, underway is a 2 billion euro highway project stretching along the north coast of Crete, said to be one of the largest public works projects in Europe.

This article was first published here. 

For more Real Estate News & Views on Greece and Europe’s South, head to The Greek Guru.

Stylish New Beach Resort Set to Open in Crete

Plan to escape the daily grind at Numo Ierapetra Beach Resort, an ultra-stylish seaside hotel in Crete that is set to make its grand debut in June. 

Set on a beachfront and surrounded by lush greenery, this serene and sophisticated space is home to designer rooms and suites with an earthy palette and outdoor living spaces designed to help guests relax and unwind. 


Numo Ierapetra Beach Resort boasts a secluded location, 10 minutes from the heart of Ierapetra and about 30 minutes drive from Heraklion Airport. Ierapetra is nestled along the southeastern coast of Crete and offers a laid-back small-town experience – perfect for those seeking peace and privacy on their next Greek island getaway. With Heraklion so close by you can easily explore the Palace of Knossos, the historic Church of Agios Minas, and the intriguing art and artifacts on display at the Heraklion Archaeological Museum.

Style & Character

In a sun-drenched, beachfront location surrounded by evergreen gardens, it is a luxury resort with earthy design touches and a serene ambiance. Private swimming pools and cozy terraces complete an intimate scene where relaxation and sophisticated design become one. At the same time, the cool vibes coming from the beach area add a light touch of excitement to the experience. With a thoughtful design that offers easy and enjoyable transitions between the bedrooms and the outdoor living areas; everything is designed to make guests relax. The warm, cozy atmosphere and carefully chosen interiors are combined with a natural colour scheme, finished with clean contemporary lines. 


With sizes ranging from cozy to super spacious, all rooms feature furniture that’s relaxed and multipurpose, adding various clever touches to make the most of the space. Soft fabrics and tactile materials make all surfaces feel soft and inviting. Earthy and with a splash of freshness, the color palette was inspired by the light grey tones of the beach sand and the gentle greens of the native tamarisk trees that surround the neighborhood.

Food & Drinks

Sample a blend of Mediterranean flavours and modern innovation at Menoa restaurant, which celebrates its Cretan roots while serving artistic and creative dishes. The all-day restaurant Tamarisk offers fresh fish and premium meats, while those looking for a quick and light bite should head to Kafenè. There are also two bars, The Modern which is the lobby bar, and Mare Mare, the pool and beach bar, offering signature cocktails by the sea. 


From relaxing, soul-soothing massages to invigorating beauty therapy sessions, the resort spa is ideal for those in need of some pampering. There is also an ultramodern outdoor gym, for hardcore training, as well as relaxed yoga sessions. There are also two pools- one for children and the other that’s adults only. 

Ideal for…

Anyone looking to spend days lazing on soft sands and topping up their tan, enjoying a memorable day of scuba diving, and getting to know Cretan cuisine across an array of seafront eateries. Also ideal for anyone in search of a relaxing base while they enjoy some adventure by car, foot, or bike. From the stunning vistas of Sarakina gorge to the endless green of Selakano forest and the turquoise waters of islet Chrissi, there’s a little something for everyone. Close by there are also Blue Flag-awarded beaches such as Agia Fotia, Koutsounari, and Ferma.


  • Free WiFi
  • Free parking
  • Private check-in/check-out
  • Concierge service
  • Luggage storage
  • Ticket service
  • 2 swimming pools
  • Express check-in/check-out
  • 24-hour front desk