Dean Metropoulos to buy Kassiopi for €32 mln

Greek-American expatriate billionaire businessman and investor Dean Metropoulos is expected to acquire a 44-hectare property in Kassiopi on Corfu that formed the first privatization conducted as a result of the Greek debt crisis.

It is understood that a sale price of €32 million has been agreed and that bank financing for the project is pending.

The property is being sold by NCH Capital, who bought it in 2015 for €25 million through a tender process from the Hellenic Republic Asset Development Fund (TAIPED).

Sources say that Metropoulos' business plan foresees the development of holiday homes that will operate under an international hospitality brand.

NCH Capital reportedly reached an agreement with Mitropoulos after a number of fruitless attempts to sell the site.

NCH's Kassiopi Project, as it was named, provided for the construction of a five...