Scorpio Island (near Lefkada) to see 165M € Investment by Russian Billionaire

Green light to invest 165m euros in Scorpio by Ribolovlev


The “green light” for the investment of Russian mogul Ribolovlev , on the island of Scorpios, gave the Central Administration Council for the Exploitation of Public Property.


At the meeting of the Central Board of Management for the Exploitation of Public Assets held on Wednesday, at the Ministry of Economy and Development, chaired by the Secretary General for Strategic and Private Investments Mr. Loy Labrianidis and with the participation of the relevant Secretaries General of the Ministries of Environment and Energy, and Infrastructure unanimously approved the Scorpio’s VIP Exclusive Club Strategic Investment Plan’s Presidential Decree Plan.

The meeting was also attended by the promoter of the investment with his project-consultants and officials from the ministries involved.

This spatial plan delimits the land uses and building conditions of the strategic investment, which includes a 5-star and 60-bed hotel, multi-sports facility, bathers lounge, spa, modernization and extension of port facilities, amphitheater, heliport, a farm and a horse riding arena that takes place on an area of ​​830 acres.

This investment has a budget of 165 million euros and is expected to employ 120 people in operation and multiples during the construction of the project.

Scorpios, the much-talked island near Lefkada, was acquired in 1963 by Aristotle Onassis for 3m euros.

For five whole years, he spent time and money to plant thousands of trees (most of which came from abroad as there were varieties not found in our country), flower beds with rare flowers, and plants that characterize the Hellas.

Among other things, he carried sand for the creation of the beaches. He also built small hostels, and gave the small island the image of a terrestrial paradise.

However, the death of the son of the Greek tycoon, Alexandros (1973) and then Aristotle (1975) will lead to abandonment.

The lost glamor returns after years to Christina Onassis’s famous party.

After her death in 1988, Athena’s daughter will become the sole heiress of impregnable property.

The same many years later, it will make the decision to sell the island for more than 100 million euros.

Since the spring of 2013, Scorpio belongs to Ekaterina Ribolovlevova, the daughter of Russian tycoon Dmitry Ribolovlev.

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