Thursday , July 9 2020

Qatar’s investments in Zakynthos to be looked at again.

Zakynthos again on the list of investment opportunities as Qatar hands over to Greece their  “frozen tourist project” once again.

Deals were frozen in the beginning stages. At the moment the final decision of the Zakynthos Combine District Court of First Instance and the declaration of the new Act for the Recognition of Ownership of the Holy Monastery of Saint George of Kremnon, in which forest land has been sold, has to be carefully looked at and decided upon.

In an article by Greek reporter Dimitri Delevegkou, reporting for  It was stated that through the Qatar Investment Authority, the Emirates investment fund headed by his son, former Qatari Sheikh Khalifa Al Thani, Mohammed bin Khalifa Al Thani would head the investments for Zakynthos. Qatar’s ambassador to Athens, Abdulaziz Ali al-Naam, made it clear in a recent meeting with reporters that he believed that the problems of the past could be overcome more quickly after the government change.

In addition, Qatar is already helping to repair the damage caused by the devastating fire in Mati and, albeit with a significant delay, attributed to the previous government’s outburst, will finance the construction of a hospital wing in the area.

The article in Capital. gr went on as follows:-

Along with social responsibility actions, Qatar will re-energize investment in Zakynthos and Oxia, with the current situation being favourable: not only because the new government is investment-friendly, but also because a number of judicial fronts have been closed for Qatar. How, though, is the situation in the larger projects planned by the emirate in Greece, but forced to “freeze”, as announced in September 2017?

The art island

In 2013, Pimara – a major shareholder of Al Rayyan’s investment fund – bought the Echinades island complex near Neochori Messolonghi for 5.6m Euros. The € 300m investment project foresees the creation of a model “art island”, an international tourist attraction, with luxury hotels, bungalows, marinas, tourist villages, shopping areas, artists’ settlements, heliports, seaplane installations. , galleries, and museums.

The island’s development plan was undertaken by Stelios Agiostratus, at Associates architectural firm, with whom Pimara decided to terminate the partnership. As a result of the above development, there was a legal claim by the office of Agiostratis, which was remunerated for the amount of € 400,000 for the services it provided.

The case was discussed in Evelpidon in November 2014, in 2016 Justice appointed an expert and finally Justice issued its decision at the end of February 2019, justifying Qatar’s former emir in his dispute with the well-known architect. According to the court order, the Agiostratis office had not carried out comprehensive studies on the beech so as to obtain the compensation it claimed.

“In the light of the foregoing expert opinion and those already set forth in the said Presidential Decree, the plaintiffs are not entitled to remuneration due to the fact that – as has been shown – the above studies do not meet the requirements of the Presidential Decree and the fact that these studies cannot determine the detailed budget of the project on the basis of which it would be possible to determine the amount of the plaintiffs’ remuneration “, the court notes.

At the same time, according to the court’s decision, Pimara’s original intention was to commission the preliminary design and the design required by the architectural office in order to remove restrictions preventing the use of the land.

However, “no valid written agreement was established between parties” and, consequently, “the subsidiary basis of the action, based on the existence of a valid contract between the parties, must be rejected as unlawful”. Pimara will now resume the required licensing process, with the aim of launching the island’s development, with the Qatarian investor timetable anticipating completion of the work within three years. In any case, the eyes are on the brief overcoming of bureaucratic obstacles.

The 2 billion Euros investment for the project

Provided that this time the Greek State operates coordinates and actually stands on the side of investors, Qatar is preparing to restart its 15,000-acre “frozen” tourist project on the northwest side of Zakynthos. The project, with an estimated budget of around 2 billion Euros, had to go through the Crescent of Justice, as the Metropolis of Zakynthos and St. George of Kremnon Monastery had filed a lawsuit against Pimana, claiming the contract they had was not valid. It is recalled that the seller of the 15,000 acres property to his former emir’s company, Pimana, is George Charos, who has inherited the property.

Finally, the Zakynthos Court of First Instance, in its decision 20/2018, concluded that the sale was valid, thus the ownership is not disputed, while reserving the right to the 3,000 acres of the total area of ​​the property. In any event, the deed of transfer cannot be annulled, as, according to the judges, for this to happen, the Church should have a legitimate interest in the whole 15,000 acres. For the 3,000 acres for which the Church claims to have lawful ownership, the court will rule when the Church’s claim is “mature”, that is, to furnish evidence accepted by the Court of Justice. In any case, Qatar is expected to begin the process of obtaining the required approvals in order to launch its investment project in Zakynthos.

In a letter to, Mr. Spyros S. Xenos, Sociologist Writer-Researcher on the Zakynthos Metropolitan Area states:

“I read with great interest, today, 15/8/2019, the day of Our Lady, on your article (in Capital. Gr), entitled:” Thawing over 2 billion works. euro in Qatar real estate “, and I was truly impressed. I was particularly moved by Qatar’s” activation of social responsibility actions “in Zakynthos!

However, and to avoid unnecessary misunderstandings, it is good to know that:

(j) on 20/7/2015 no. 97/2015 Judgment of the One-Member Court of First Instance of Zakynthos, which PROHIBITS, expressly and unequivocally, PIMANA S.A. (and not of course in Qatar or Saudi Arabia or the United Arab Emirates) any legal and factual change to the allegedly sold land, until a final Judgment is issued.


(ii) by no. A15 / 1055 and A16 / 2462 files, were filed by the Public Prosecutor’s Office of Athens (and after the order of the financial prosecutor Galen Bris), for criminal offenses, for serious felonies (eg False Claims against the State, Submission Falsification of False Certificate, Joint Fraud against the State, etc. for all the players involved in the transaction in question. And that, of course, also shows the “validity” of the sale, which has essentially been Canceled!

 and finally                                                                                                                                             

 (iii) by no. 20/2018 (22-5-2018) Judgment of the Multi-Member Court of First Instance in Zakynthos, Expertise has been set on determining the location, extent and boundaries of the ancient monastery of Kato St. George of Krimnon and its surroundings, organically and environmentally. operatively affiliated with it, ordering the discussion to be repeated to the audience and postponing for the future the final decision on the recognition of the statue of the Holy Monastery of St. George Krimnon, in large part of the land sold.

(All the evidence described above is available, and now if you want it, it’s at your disposal!)

 Pending, then, both the final decision of the Zakynthos Multi-District Court of First Instance and the forthcoming filing of the new Act for the Recognition of Ownership of the Holy Monastery of St. George of Krimnon over a large part of the “sold” land of Aghios Monastery (see Monastery) I have to summarize very briefly, on the one hand, that you should not be in a hurry, and on the other hand, to inform you of the following:

On 7/5/2014, George N. Charos appears to sell and transfer an area of ​​14,387,40 acres to NW Zakynthos, to PIMANA S.A. However, and according to all the evidence so far (which is also available to you, as the Corruption Prosecutors do, at my request), it is clear that the seller had only 79 acres of crops and 1,000 acres of wild land and forests, all located in the Community of Anafonitria. All the rest of the 13,308.4 acres was and continues to be the undisputed property of the locals, the Holy Monastery of St. George of Krimnon and, for the most part, the property (community grazing land) of the Local Community of Maries and Anafonitria (starting from the Strassi-Kathisma position and descending south to Omales and beyond). Namely, the property of the Municipality of Zakynthos, with clear and clearly defined boundaries.

 So in order to make the sale “mature” and for the “approvals required” to proceed, it would be good for any interested and genuine buyer to know sufficiently the Truth. Believe me, this is my answer, and I wish to post it on your trusted site.

 Yours sincerely



As time passes, we can only wait to see what exactly will happen in our mountainous area, well known for its natural beauty. Just what is planned in the name of “Tourism” time will tell.

To read the article in Greek click on the source:-

About Louise Inzk

Louise is Australian born and has been a Greek citizen since 1991. She has deep cultural ties with the island, often writing about Zakynthian Traditions and Culture. She is also an active member of the Volunteer Group of Zakynthos, Giostra Di Zante and is a member of the women's choir "Rodambelos". Her love of the island and all it offers saw her joining the Zakynthos (Zante) Informer admin team in 2014.

Check Also

Zakynthos:- Local Council disinfects bins and areas on own initiative.

An important initiative was taken by the Local Council of the city, since with its …

Leave a Reply

Your email address will not be published. Required fields are marked *