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Plot of Land for Sale in Greece - Full Description
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Land Ref.: 1242/11 WBP Back to Search results

At a Glance: A rare large land for sale in Crete. An excellent opportunity to acquire a development site with detailed planning permission for 600 houses, hotel and touristic development. The land area is 653 490 m2

Region: Crete

Prefecture / Location: click for info about Crete

The Land

Land size in (m2): 653 490

Land characterization: In urban planning

Type of Transaction: With building permit

Current status of permits: The licenses for the construction of a complex comprising of a hotel unit, vacation homes and a shopping mall have already been issued.

Land Category: Seafront plot of land for sale / With private beach

Landscape: Flat & Inclining

Beach landscape: Sandy

Facade: 1 000 meters to the sea

Attached roads: Tarmac road

Land View: Sea View

Further Details: 333 039 m2 allocated to residential complex falling inside urban plan and 320 451 m2 designated for hotel development falling outside urban plan.

Alteration of use: The potential investor is allowed to utilize a total buildable area of 110,000sq.m. according to his development scenario.

The property is sub – divided to various spatial / block segments by ratified dirt roads that will form the internal road network of this spatial and developable entity. The prevailing land uses, according to the existing land use pattern, are agricultural and grazing land. The property under assessment forms a coastline spatial entity which extends over a total gross area of approximately 653,490 mē. The plot is characterized by relatively mild slopes in terms of ground configuration. The land plot is of irregular shape, has south – north orientation, with sea frontage to the west and north.

The residencies, according the business plan, will be 1,058. The built area of these residences will amount about 66,000 sqm and each one of these will cover an area of about 70 sqm. Coastal residences will expand in elongated fillets of land, adjusting to the morphology of the landscape. There will be positioned in a way that offers to each one unobstructed views towards the sea and the resort. Each residence will own its private green and swimming pool and will be equipped with all modern facilities and amenities.

The resort will comprise of a five star hotel, bungalows and villas. The built area of the aforementioned construction will be of around 40,000 sqm. According to the master plan the five star hotel (150 rooms & 362 bungalow units) is located in the central part of the site and has its own private beach.

Further permitted building area (m2): The licenses for the construction of a complex comprising of a:
- Hotel unit
- Vacation homes
- Shopping and retail area the Communal facilities are: 100 units

The project may be developed through a joint venture.

Subprojects / Remarks: The 653 490 m2 plot has been divided into 2 sectors.

The first sector (Coastal Residencies) covers a plot of 333 039 m2 and is scheduled to host houses, villas.

The second sector (hotel area) covers a plot of 320 451 m2 and is scheduled to host Suites, Bungalows,Luxurious Sea front Villas and 100 units for communal facilities.

Attached available land (m2):

Distance from

Airport: This major parcel of land benefits from a considerable lengthy frontage along the sea and provides clear view to the sea and the broader area. Moreover it is situated at a distance of approximately 8 km, in straight line, to the east of the centre of Sitia and the airport of Sitia.

Heliport: 4 km

Seaplane Terminal:

Harbour: 2 km

City / Village: The subject property is located approximately 8 km to the east of Sitia, Lasithi Prefecture, Crete, Greece. The property is a beachfront land parcel, with mild slopes providing clear view to Sitia town and Sitia Gulf. The site is easily accessible via the local road network that links Sitia with Paleokastro. Currently, the road has been upgrading, i.e. wider and better quality. It is anticipated that when completed in the near future, the time needed from Sitia to Paleokastro will be considerably reduced.

Medical Center: 8 km

Beach: Beachfront property with private beach

Tarmac road:

Services: attached to the Electricity, Telecommunication and Water Network.

Terms of Planning Authority

Residential Permitted building area (m2): 70 000

Hotel Permitted building area (m2): 30 000

Condo Hotel permitted building area (m2): 105 000

Shopping mall permitted building area (m2): 5 000

Proposals & Details on building permits: The 653 490 m2 plot has been divided into 2 sectors. The first sector (Coastal Residencies) covers a plot of 353 000 m2 and is scheduled to host 600 houses. The second sector (hotel area) covers a plot of 256 000 m2 and is scheduled to host 200 Suites, 200 Bungalows, 50 Luxurious Sea front Villas and 100 units for communal facilities. * So far, building permits have been issued for 16 building plots that reflect a potential development of 15 252 m2.

Marketing Data

Suggested Usage: Residential use / Hotel use / Condo hotel use

Target Market: Europe

Tourist Season: 7 months

Wider Area & Facilities: Lasithi is the eastern-most prefecture of Crete, south Europe - Mediterranean Sea, and the most 'raw' one. Preserving the picturesque and localized feeling, the residents of Lasithi hold on to their tradition and customs. The relaxed life-pace, tranquility, tradition and purity are the characteristic elements that prevail in this area. Lasithi is the area with the most - Blue Flag awarded- beaches in Greece (41! - for year 2012). Also you can find here many gorges, caves, archaeological sites, traditional villages, sea-sports facilities, wild nature, intensive nightlife, fantastic taverns and restaurants, blue sky and fantastic landscapes.
The prefecture of Lasithi is distinguished for its rich history, special tradition, amazing people full of life, wildlife and fantastic seawaters. We invite you to live tradition, enjoy activities, feel the nature, relax, taste cretan diet and fall in love with Lasithi.

Celebrities in the island: Lady Gaga, Rory McGrath, Tiger Woods, Ian Hislop, Wiz Khalifa, Avram Grant, Jennifer Aniston, Lisa Maxwell and many others

Tax Data

The Land belongs to: a S.A. Company

Type of ownership transfer: Company or land sale


Financial Data

Selling price of Land (€) : 44 000 000

Further proposals : The project may be developed through a joint venture.

Important Notes: Click For Information

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