GEK Terna is planning to transform a coastal plot in the Ermionida region into a high-end modern destination, combining luxury holiday residences, hotel accommodation, and dining facilities. The ambitious Argolic Riviera project is being developed through its subsidiary “Argoliki Riviera Monoprosopi S.A.” and has now entered the environmental licensing phase.
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Tourism overhaul in Ermionida: GEK Terna’s new masterplan
The planned development is located at the Sindoni site, on the northern section of Kranidi Bay, covering a total area of 169.4 acres. The property sits at a strategic point in the region, approximately 4.8 kilometres from Ermioni, 6.4 kilometres from Kranidi, and just 3.35 kilometres from the settlement of Petrohalassa.
According to the Environmental Impact Study submitted for public consultation, the project’s total built area will reach 32,444.78 square metres. The exact budget, construction timeline, and the hotel brand that will manage the accommodation are expected to be confirmed in the near future.
Residences, hotel, dining, and leisure facilities
The urban development proposal includes seven large building blocks, replacing the previous design of 17 blocks and 51 individual plots. The goal is to reduce land fragmentation and shorten the length of the internal road network.
Six of the building blocks are designated for residential use, with a planned built area of 23,154.52 square metres. The study does not specify the exact number of residential units to be created.
The most significant change involves the creation of a tourism and leisure zone spanning approximately 15.5 acres. This zone will include a tourist accommodation facility of up to 295 beds, with a built area of 9,290 square metres. Dining, retail, and leisure spaces will also be permitted, along with sports, cultural, and conference facilities.
Green spaces, beach access, and a helipad
More than half of the property — 51.04% — will be allocated to public and community use. The design includes a central park, a public square, open-air sports facilities, and a pedestrian network leading down to the beach.
The seafront zone will feature expanded open spaces, while the rocky coastal sections are intended to be preserved in their natural state. Buildings within the two large coastal blocks will be set back at least 30 metres from the shoreline.
The plan is further complemented by a parking area for at least 60 vehicles, a wastewater treatment facility, and a helicopter landing and take-off pad — the latter requiring a separate permit. Up to 700 workers are estimated to be needed for the construction phase, with 20–30% of positions expected to be filled from the local labour market.
