The Elounda Hills tourism development on Crete is entering its construction phase, marking a key milestone for one of Greece’s largest investments in the sector.
The milestone follows the signing of Early Contractor Involvement (ECI) agreements with construction firms AKTOR S.A. and Domiki Kritis, under a model that brings contractors into the project at an early stage to support planning, cost control and delivery timelines.
The ECI approach, still relatively new to the Greek market, allows developers and contractors to collaborate before final construction terms are set, aiming to improve efficiency, safeguard quality and reduce risks during implementation.
Developed by the Mirum Group, Elounda Hills is a large-scale tourism and residential project located in the Elounda area of Crete, overlooking Mirabello Bay. With a total investment exceeding 800 million euros, the development is expected to be among the most significant tourism projects in the Mediterranean.
The project spans a total land area of approximately 95 hectares (950 stremma), with development planned across roughly 56 hectares. Plans include a marina, hotels, branded residences, restaurants, leisure facilities, as well as landscaped parks and gardens.
Construction activity for Phase 1 is expected to intensify in 2027 and 2028, with full completion targeted before the end of the decade.
AKTOR S.A., part of the Intrakat Group, is one of Greece’s leading construction companies with a strong presence in large-scale infrastructure and development projects. Domiki Kritis is a Crete-based construction firm with extensive experience in regional building and infrastructure works.
The project has already received key approvals from the Greek state, allowing it to move forward as a strategic investment in Crete’s tourism sector.
Mirum Group, the project’s developer and strategic investor, has been active in Greece for nearly two decades, delivering high-end residential and hospitality projects, including the Mirum Villas in Elounda and the Island Concept boutique hotel in Agios Nikolaos.
Source: news.gtr.gr