Korinthos
Greece, Korinthos.
Korinthos

Property

Description

Area

Allowable Building Area

(based on investment proposal)

Existing Infrastructure

Investment Proposal

Near

Korinthos

Former army camp on the rim of the city of Korinthos, next to the light rail station, suitable for residential development and/or vacation homes

298,000 sqm

60,000 sqm

Former army camp

Tourism, Residences, Sports, Leisure

Near Light rail station (300m) & Municipal spots centre (50m)

Location

This piece of property, the former 6th Infantry Regiment or Lieutenant Colonel Kalogerogiannis Camp, is situated to the south part of Korinthos city (1200 meters from its center), on the New National Korinthos – Patra Highway, to the east of the Korinthos – Argos National Highway and the north of Olympia Highway very close to the station of the Suburban Highway, a privileged position for its accessibility as highways and railroad are at its ‘doorstep’ and the Korinthos port is very close by (the city of Korinthos, in general, combines all three forms of transportation and, in parallel, being a few kilometers from Attica, is the town of the Peloponnese closest to the El. Venizelos airport of Athens).


Map depicting isochrone curves for overland access for the time/distance at 30, 60, 90, and 120 mins from the property.

Description of the Property

The property’s surface is 298.028 m2 and it has an orthogonal shape and a level surface.  As a former military camp, it is walled and fenced all around (with the entrance/gate to its western side) and it is full of buildings, some of which today accommodate the “Korinthos Temporary Detention Center” of the Greek Police (of all the buildings, which are old and in a mediocre state, the playing field, the church and the military hospital would be worth preserving – the buildings occupied by the Detention Center are somewhat maintained at least …).  Furthermore, there are enough open spaces with soil and some areas that had been planted with trees on purpose.

Administrative Boundaries and Responsible Authorities

The property falls in the Korinthos Municipal Unit, of the Korinthos Municipality, of the Korinthia Regional Unit and it belongs to the Decentralized Administration of the Peloponnese, Western Greece and the Ionian Sea. It reports to the Korinthos Forestry Office, to the Antiquities Office of Korinthia, to the Construction Agency of the Municipality of Korinthos and the Independent Office of the Korinthos Public Property, reporting to the Regional Direction of Public Property Administration of the Peloponnese, Western Greece and the Ionian Sea with its Offices in Patra.

Infrastructures

The area’s road network is quite satisfactory and in an improving course (especially after the new building of the Korinthos – Patra National Highway). The New and the Old Athens – Korinthos – Patra National Highways take care of the main volume of visitors and passer-bys, Greeks and foreigners, and, to a lesser extent, the Korinthos – Tripoli National Highway and the Korinthos Argos National Highway complete the basic axes of the road network.  The former camp is close to the junction of the New Athens – Korinthos – Patra National Highway and the Korinthos – Tripoli National Highway while the Korinthos – Argos National Highway and the Korinthos – Loutra Oreas Elenis provincial road are very near to the west.

The railway network joins the city and the property quickly with Athens to the northeast (and through it with northern Greece and Europe) and with Kiato and, later on, Xylokastro to the west (and there have been studies of the possibility of reopening the Korinthos – Nafplio train line and of constructing the Korinthos – Tripoli – Kalamata line). The Korinthos train station is 1200 meters away from the property.

As for air travelling, the El. Venizelos Airport of Athens is used exclusively as it enjoys quick road and train access. The airport of Kalamata and the inoperative one in Sparti are both further away and not worth assessing as alternatives.  The possibility of converting the Tripoli military airport into a civilian one is under study.

Sea access is guaranteed by the Korinthos port, situated close to the west end of the homonymous Canal.  Even though it is mostly of a trading nature, it has seen an increase in cruise liners stopping by in the latter years.  Furthermore, Korinthos can be served by the Pireas port in the east, Kalamata to the southwest, Nafplio to the south-southeast and Gythio to the south and, naturally, by the port of Patras to the west as concerns Italy and central/western Europe.  The construction of a marina is being considered.

The intercity buses (K.T.E.L.) are another reliable form of connecting Korinthos with large urban centers such as Athens, Patra and Tripoli but also small nearby locations.

In Korinthos, the first steps for bicycle route construction have been taken (indicatively, Xirias and Kalamia – Posidonia) and the expansion of the use of bicycle through safe routes to be constructed is is currently under study.

As an urban property, it enjoys full access to electricity, telephony and sewage and it is connected to the Korinthos-Loutraki Sewage Treatment Facility.

Both Korinthos and the property will benefit from the future natural gas line Aghii Theodori – Megalopoli.

The Region’s garbage removal scheme is in the phase of re-planning.  Still, the property is served by the garbage trucks of the Korinthos Municipality.

Climate

The climate is Mediterranean, warm with relatively dry summers and warm winters.

Monuments and Other Places to Visit

As the property is inside the city of Korinthos, it is easy to understand that the monuments and the sights of the city are easily accessible.

The Ancient Corinth Archeological Sight, with the impressive Roman Agora, the Lecheo street and the Sanctuary of Apollo, the castle of AcroKorinthos, the Kraneo basilica and the Asclepiio, the Lecheo port on the Korinthian Gulf with its own basilica are the nearest sights.

Nafplio, Tiryntha, Epidavros with its spectacular Theater and the Asclepiio and Mykines with its acropols and the domes graves are the main sights to the south whereas Kiato, Xylokastro and Kalavryta with the Execution Monument, the Skiing Center and the monasteries of Mega Spileo and Aghia Lavra are those that stand out westwards. To the north, the Canal, Loutraki and the Ireo ‘conclude’ the list of sights.

Investment Proposal

The proposal refers to the construction of walled-in luxury residences or a vacation village/hotel for privileged visitors, accompanied by the construction of a park and leisure faculties for any kind of visitor.

Up to 60000 sqm can be built that can easily accommodate sports facilities, spas, restaurants, bars and other entertainment venues. It could include other activities, such as conventions.  The renovated wall of the former camp will offer limited access to the outsiders and a feeling of increased security and privacy to the residents while its proximity to the train station and the main road axes offers easy transportation to any point of interest and Athens.

Investment can target two categories of clients. Individuals or groups of them interested in the Golden Visa program or individuals or groups of them such as pensioners interested in c=vacation homes close to Athens or for relocation during pension life.

The Korinthos investment proposal aims to attract tour operators, investment funds with a sound presence in the tourist sector or specialized companies that accomodate citizenship or visa to foreigners due to property investment.

Ownership: National Defense Fund
Management: Directorate for the Armed Forces Real Estate Development

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