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Astir making big plans

The Astir Vouliagmenis<.> hotel group is preparing to make major investments and launch…

The Astir Vouliagmenis  hotel group is preparing to make major investments and launch  large-scale works following its planned listing on the Athens Stock Exchange in early May, which is expected to draw 10 billion drachmas in share capital.
More specifically, the group’s plans include the construction of a 2.5-billion drachma convention centre catering to 2,000 once it receives the necessary permits. These investments should enable the organisation to operate at least two units during the winter season.
The 10 billion drachmas will fund Astera’s five-year business plan; 7.6 billion drachmas will go towards new works while the cost of renovating existing buildings is estimated at 2.4 billion drachmas.
The company intends to spend 1.5 billion drachmas on building 75 beach bungalows and 1.6 billion drachmas on two underground parking facilities for 800 cars in total. A church is planned and may be coupled with a reception centre while a new jetty is on the cards as is an environmental park spanning 100 stremmata.

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