Karathonas
Greece, Argolida, Nafplio, Karathonas.
Karathonas

Property

Description

Area

Buildable Area

Existing Infrastructure

Investment Proposal

Near

Karathonas

Coastal property, suitable for mixed tourism development

425,000 sqm

74,200 sqm

Fishing shelter marina

Tourism, Holiday residences, Sports, Leisure

Nafplio town, Palamidi, Bourtzi

Location

Karathonas is a coastal property of near sea-level altitude in a privileged position: lying to the southeast of the emblematic Rock of Palamidi and stretching to the Chondros Cape of Nafplio. The whole area is characterized by increased tourist flows, especially in the summer, both due to the Rock and the view it offers but also because of the great beach.

Description of the Property

The Karathonas plot is 1.911.893 sqm.  It is mostly a level area but in the east it has some hills of sharper inclination.  It has a low natural vegetation with the taller trees (plantation) being relatively concentrated in its center.

The property includes a small docking facility where small private crafts can tie to transport visitors.

Infrastructures

Regarding accessibility of the plot, Karathonas is served to a pretty good extent, due to its proximity (5 km) to the center of Nafplio, an urban center, administrative capital of Argolida and tourist hub, but also the former capital of modern Greece.

Four major road axes, the Tiryntha-Mykines street, the Argos-Nafplio that joins the two towns, the Nafplio-Epidavros and the old national highway Nafplio-Tripoli, serve Nafplio and Karathonas. All the road network that connect the property to Nafplio and surrounding areas is in good condition.

From Athens and the "El. Venizelos" International Airport, Karathonas is an 1h 50m drive (138km). From Kalamata and the "Captain V. Konstantakopoulos" airport, the property is an 1h 45m drive away (151km). Tripoli's town airport which is located 63 km away from Karathonas is of military use only.

The plot includes docking facility for small private crafts. The port of Nafplio of 1.100m docking facilities can accommodate crafts of 6m draft. A ppp scheme is underway to build and operate a modern marina in Nafplio. Lastly, Tolo 300m docking station is located 14,4km away from Karathonas.

The railway system can only partially serve the property as, coming from Athens, it approaches up to Korinthos (in the north) and then veers westwards towards Kiato and, later on, Xylokastro.  There is a functional (inactive since 2011) line, that of Korinthos – Argos – Nafplio, for which institutional discussions are in place to be re-energised.

Five local routes are suitable for a walk or bicycling as the Municipality of Nafplio offers bicycles for free use. These are Banieres - Arvanitia, Arvanitia -Karathonas, Karathonas - Chondros Cape, Karathonas - Karathonas Cave and Karathonas - Tolo.

Networks of electricity, telecommunication and sewage cover sufficiently the plot area.

Climate

The climate is Mediterranean, warm and dry during the summer. Temperature in the greater area averages from 25oC to 28oC during the summer with 10-12h of sun on average per day and from 8,1oC to 11,5oC during the winter with 4-6h of sun on average per day.

Monuments and Other Places to Visit

The property is within a culture hub. In the greater Nafplio area 170 archaeological sites and monuments are located. With a 30min drive one can visit the Palamidi Castle, Ancient Assini and Tirintha archaeological site, an UNESCO listed monument of the world's cultural heritage. With a 60min drive the operational ancient Great Theatre of Epidaurus (Epidavros), the Sanctuary of Asklepios, also an UNESCO listed monument, the Mycenae (Mykines) archaeological site, the ancient theatre of Argos, the Castle of Larissa and the prehistoric settlement of Kantia Irion can be accessed.

In the broader area, there is ancient Corinth with the Diolkos, the archeological site of Sikyon, the Kesimia area, the Rachi Boska and the Stimangas area that contain monuments of regional significance and, even further away (90-120min), the Ireon area, the ancient Thouria, the Akovitika archeological sight, the Sanctuary of the Afissio Community, the Amykleo Sanctuary, Kastraki, the Koufovouno hill and the Spilies hill with the Mycenaean domed graves.

Investment Proposal

The main investment proposal refers to a 5-star hotel accompanied by mild development of part of the surrounding area.

The hotel’s building area can cover up to 72,000 sqm. In the case of the development of a resort, the buildable area could be up to 52,000 sqm. Sports facilities and shops conclude the investment proposal, as they are expected to increase the number of visitors and expected revenue.

The main idea runs on the lines of typical sun-and-sea tourism, enriched with alternative thematic tourism, city tourism, touring the area, conventions and marine sports. Alternatively, the option of a portfolio of properties in and around Nafplio for tourism investment and development could lead to a strong positioning in the Region of the Peloponnese.

Ownership: Hellenic Republic Asset Development Fund SA
Management: Public Properties Company SA

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