A 100-million euro investment in a resort complex with golf courses is a step closer to being realized following the signing of a preliminary agreement between the Golfing Developments company and the Orthodox Church in Volos, which owns a part of the property planned for the development.
According to an announcement made by a church representative, Mitropolitis Ignatios, the church has agreed to sell some of the land and to lease a larger tract to the investors.
Golfing Developments, a Greek-Canadian venture, is planning a resort with hotels, vacation housing and golf courses. The agreement with the Church has cleared the way for the company to request the needed permits. The development of a golf course has faced serious opposition by local environmental groups. For its part, the Church maintains that this type of development is sustainable with Ignatios saying that he will guarantee that all urban planning rules will be followed as will the legal stipulations for environmental protection.