Prodea to resume White Coast hotel expansion in Milos

The expansion of the White Coast hotel in Milos is set to resume following a decision by the Council of State to reject an application to annul the project’s environmental and construction permits. The legal challenge had been filed by the Municipality of Milos, the Hellenic Company for Environment and Culture, and two individuals, resulting in a temporary suspension of construction activities.

Prodea, which holds a 49% stake in V Tourism AE, plans to restart construction at the beginning of 2027. The expansion aims to increase the hotel's capacity from 50 to 117 rooms. The unit is expected to begin operations during the 2027 summer season, with full completion of the development projected for 2028.

The investment follows Prodea’s strategic shift toward tourism real estate. The White Coast property, valued at approximately 43.7 million euros as of June 2026, was previously acquired for 14.85 million euros and is financed in part through a 10 million euro credit agreement with Eurobank.