Happy New 99 Years!
By Sharon Smyth, Dec 30, 2013:
"NCH Capital Inc., a U.S. private-equity firm, won permission from the Greek government to build a tourist resort on the island of Corfu.
NCH, based in New York, will spend 23 million euros ($32 million) for the leasehold and invest about 75 million euros to develop a hotel, marina and private holiday homes...
Greece’s Hellenic Republic Asset Development Fund, which is charged with raising 11 billion euros through state assets sales by 2016, accepted NCH Capital’s bid in January 2013 to lease a 490,000 square-meter (5.3 million square-foot) property on Corfu under a 99-year concession. The deal marked the first overseas investment in state land in 15 years".
Kassiopi (Greek Travel Pages):