Qatar royal family buys Greek island

by -
1644
Reading Time: 1 minute
Click to enlarge

The royal family of Qatar has bought an uninhabited Greek island for around €5 million, Greek media reported on April 28. Emir Sheikh Hamad bin Khalifa Al-Thani paid this amount to purchase the private island Oxia, which is located off the western coast of Greece in the Ionian Sea.

The island’s previous owners, the Greek-Australian family of Spyros Stamoulis, intended to sell Oxia for 6.9 million euros, but the increased property taxes in Greece made them bargain the price. Many Russian businessmen had been interested in buying the Ionian island during the past years, but the Emir was the one who came to an agreement about the price.

The Emir of Qatar reportedly wants to use the island as a private retreat, according to Greek daily Ekathimerini. Oxia boasts pristine beaches with crystal clear water, and a large part of the island is a natural habitat protected by EU environmental laws. However, parts of the island are allowed to be developed for touristic purposes.

Greece’s government has been under pressure to privatise the country’s islands in the wake of its sovereign debt crisis.

The sale follows a week after Qatar’s sovereign wealth fund QIA announced it had signed an agreement to acquire Smeralda Holding, owner of luxury hotel resorts on Costa Smeralda in Sardinia, Italy.

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid

Reading Time: 1 minute

Click to enlarge

The royal family of Qatar has bought an uninhabited Greek island for around €5 million, Greek media reported on April 28. Emir Sheikh Hamad bin Khalifa Al-Thani paid this amount to purchase the private island Oxia, which is located off the western coast of Greece in the Ionian Sea.

Reading Time: 1 minute

Click to enlarge

The royal family of Qatar has bought an uninhabited Greek island for around €5 million, Greek media reported on April 28. Emir Sheikh Hamad bin Khalifa Al-Thani paid this amount to purchase the private island Oxia, which is located off the western coast of Greece in the Ionian Sea.

The island’s previous owners, the Greek-Australian family of Spyros Stamoulis, intended to sell Oxia for 6.9 million euros, but the increased property taxes in Greece made them bargain the price. Many Russian businessmen had been interested in buying the Ionian island during the past years, but the Emir was the one who came to an agreement about the price.

The Emir of Qatar reportedly wants to use the island as a private retreat, according to Greek daily Ekathimerini. Oxia boasts pristine beaches with crystal clear water, and a large part of the island is a natural habitat protected by EU environmental laws. However, parts of the island are allowed to be developed for touristic purposes.

Greece’s government has been under pressure to privatise the country’s islands in the wake of its sovereign debt crisis.

The sale follows a week after Qatar’s sovereign wealth fund QIA announced it had signed an agreement to acquire Smeralda Holding, owner of luxury hotel resorts on Costa Smeralda in Sardinia, Italy.

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid