LARGE AREA IN CHALKIDIKI FOR TOURIST DEVELOPMENT

LARGE AREA IN SITHONIA

FOR THE DEVELOPMENT OF TOURISM EXPLOITATION PROJECT

WITH POSSIBILITY OF FINANCING

THE AVAILABLE AREA

An area of about 32,000 acres is available, located in Sithonia, which stretches from a mountainside without sharp slopes, with rich flora and fauna along a coastline of several kilometers.

The sea of the estate is one of the cleanest in the country, with many independent beaches. The area of the estate is for the most part forested, mainly pine, creating an idyllic natural environment that is combined with the lacy beaches and the colorful shades of the blue of the calm sea. An ecosystem of outstanding natural beauty preferable for coastal tourism.

There is the possibility of building in two places (20 acres and 350 acres) and construction is claimed for another 1,050 acres.

From Thessaloniki and the airport, it is 135 km.

In order to protect against fires, projects worth many thousands of euros have been gradually carried out in recent years.

According to Law 4280/2014 (A' 159) the forest and the forest area can be used for tourism in a percentage that cannot exceed 10% of the total area. With the creation of sports facilities, the percentage reaches 20%. The olive grove and the plots can be exploited.

Main characteristics :

Many kilometers of beach
Coves with deep water, some also suitable for a marina.
The coastal section at a depth of 2 km. smooth with gentle slopes but also flat lands. And mountain slopes generally have gentle slopes.
Underground and surface water of continuous flow, with excellent quality fresh water suitable to meet the needs of large tourist development.
Rich fauna
Beautiful forests of halepi and black pine, sycamore, sycamore and broadleaf. The Aleppo pine reaches the coast.
The agroforestry property with its excellent combination of mountain and sea and its unique natural beauty is suitable for high-quality tourist investments, which will contribute to the development of the area and is encouraged by the local community.

THE WIDER AREA

Sithonia , the central peninsula of Halkidiki, is known for its unique natural beauty. It has enchanting sandy beaches and beautiful coves, wonderful natural landscapes with dense pine forests and picturesque villages.

Plot Value & Tax Details

The requested amount for the sale of the area is much less than its objective value, around €80 million.

The objective value of the estate amounts to €580,070,612 according to official estimates.

Also, an important expense is the transfer tax attributed to the state, which is based on the objective value and is currently at 3% of €580m, i.e. € 17.4m, and if we add other expenses we roughly reach 18m. €.

Therefore, the total cost for the acquisition of the area being sold is approximately €98,000,000 plus the consultant's brokerage fee on the net sale amount.

What applies today with real estate taxation:

REAL ESTATE TRANSFER TAX

With Law 4223/2013 and the subsequent relevant legislation, real estate purchases and sales are charged with:

Real Estate Transfer Tax (RTT) (3% - buyer) or
Value Added Tax (VAT) (24% - buyer) for the purchase of a new building from a builder, and
Real Estate Capital Gains Tax (FTA) ( 15% - seller), which is suspended until 12.2022 .

CALCULATION VALUES

For the calculation:

of the Capital Gains Tax borne by the seller and
of the presumption (objective cost) of the buyer's "whereabouts",

the value stated in the contract is now taken into account and not the objective value.

NOTARY FEES FOR TRANSFER CONTRACTS

With article 1 of the Joint Decision (KYA) 111376 of the Ministers of Finance and Justice on "Determining the Rights of Notaries", as already amended later, the percentage of their proportional remuneration is reduced, depending on the amount of the objective value of the object of the transaction, as following:

For an amount from 380,001 to 2,000,000 euros, it was reduced to 0.65% and so on. which percentage gradually decreases in the upper levels of amounts, as well as 4-5 five euros per additional sheet of notarial acts.

Possibility of tourist exploitation

The environment is ideal for the development of a large tourist unit with respect for the area, with its own beaches, an ideal natural environment, the possibility of significant construction to create Resort hotel units or complex hotels, with tourist villas and mansions, golf courses, marine therapy centers, spas, marina for mooring of yachts, Theme park, etc. Also development of activities such as Horse riding, hiking, etc.

It is possible to include the investment in the Strategic Investments or the Development Law 2022, for smaller amounts with a subsidy of up to 70% if it is an SME business.

In case of interest, we can quote more information (property titles, decisions from the Council of State, etc.), arrange meetings, licensing for use, etc.

Possibility of Financing

There is the possibility of financing from a banking institution or our cooperating foreign investment company that finances with funds, in addition to any subsidies, with the same participation of the investor at least 20%.

Possibility of Cooperation throughout the process:

This property is exclusive and our company undertakes the entire process from the acquisition and then the financing and subsidization of the project.

mvdevelopment 05/11/2022