From the new year—possibly within the first two months—the preferred investor for the major “prime asset” of Attica, Vouliagmeni Beach, is expected to be announced, following the ongoing tender process run by the Public Properties Company (ETAD).

The HCAP subsidiary announced the submission of four binding offers for the lease of the beach, which is the most popular organized and accessible beach on the Athenian Riviera, as part of the second phase of the tender. The offers were submitted by:

– Fais Holdings S.A., associated with Samy Fais
– Consortium of EVERGOOD Holdings & Investments S.A. (linked to CVC Group) – GEFSINUS S.A.
– Consortium of REDS (ELLAKTOR Group) – AIGAIOU Warehouses S.A. (Melissanidis Group) under the name “Consortium for the Management and Operation of Vouliagmeni Beach”
– AIR CANTEEN S.A., associated with businessman Vlassis Georgatos of the “Gregory’s” group

Of the six parties that remained in the first phase, two were eliminated at this stage:
Athens Beach Club S.A. (of the Konstantakopoulos, Prokopiou, and Kokkalis groups), which is undertaking the redevelopment and management of Akti B’ Voula—a complex multi-million-euro project still in the approval process—and The Margi, the company behind the 5-star hotel in Vouliagmeni.

Regarding the timetable: after the technical review of the dossiers, the financial offers will be evaluated, and the preferred investor is expected to be selected by early February, conditions permitting. Then the Court of Audit must approve the result. It remains to be seen whether the beach will operate under the new leasing framework for the summer season of 2026.

The tender details

The competition concerns the long-term lease of the only organized beach in the Municipality of Vari–Voula–Vouliagmeni that is available for development and commercial use. The lease is for 20 years, with an option for a 10-year extension.
The property covers 72,767.71 sq.m., with a permitted building area of 2,000 sq.m., including existing facilities such as the former landmark restaurant “Okeanis.” The shoreline stretches 638.50 meters.

Vouliagmeni Beach is the most popular organized and accessible beach of the Athenian Riviera, located 25 km from central Athens. Its natural landscape, crystal-clear waters, and leisure facilities attract thousands of visitors year-round. In 2024 it welcomed 420,000 visitors, with a daily capacity of 8,000 people.

ETAD’s announcement on the offers

Four Offer Dossiers from strong business groups were submitted and opened in a public session before the ETAD Tender Committee on Wednesday, December 10, 2025.

The submitted Offer Dossiers, in order of submission, were from:

– Fais Holdings S.A., associated with Samy Fais
– Consortium EVERGOOD Single-Member Holdings & Investments S.A. (linked to CVC Group) – GEFSINUS S.A.
– Consortium REDS (ELLAKTOR Group) – AIGAIOU Warehouses S.A. (Melissanidis Group) under the name “Consortium for the Management and Exploitation of Vouliagmeni Beach”
– AIR CANTEEN S.A., associated with businessman Vlassis Georgatos of the “Gregory’s” group

Of the six parties that remained from the first phase, the ones now excluded were:
Athens Beach Club S.A. (Konstantakopoulos, Prokopiou, and Kokkalis groups) and The Margi, owner of the namesake 5-star hotel.