Entrepreneur Pantelis Boubouras appears to be preparing his next investment move in the tourism sector; after focusing on his hometown of Lemnos, he is now turning his attention to Athens.
The Boubouras family’s plan calls for converting an existing office building, located in the heart of Athens, into a 4-star hotel. In this context, next Tuesday the Directorate of Prehistoric and Classical Antiquities is expected to issue an opinion on the relevant study for the building, which P. Boubouras has leased from the Holy Monastery of Penteli. The property in question is located in the Psyrri neighborhood, on Evripidou Street.
This new investment marks the expansion of the Lemnos-based entrepreneur’s presence in the Greek hospitality market, following the significant tourism development he has been promoting in recent years on Lemnos.
The Investment in Lemnos
The other investment project the entrepreneur is currently pursuing is the Limnos Resort, a project with a budget of 171 million euros, which is currently in the licensing process and aims to become one of the most significant tourism investments ever planned in the North Aegean.
According to the plans, the project will be developed on a 321-stremma site in Agia Paraskevi, at Cape Tigani in Myrina, and calls for the creation of a comprehensive, high-end tourist complex.
According to the plan, it will include two five-star hotels, one four-star hotel, vacation homes and villas, retail and dining facilities, recreational and sports areas, a museum, and a marina with a capacity of 100 berths.
The development is estimated to have a total of 1,860 beds, of which 1,020 will be in hotel units and the remainder in tourist residences. The primary goal of the investment is to create a new luxury hospitality destination, leveraging Lemnos’s comparative advantages while simultaneously strengthening the local economy, employment, and the integration of tourism with the island’s agri-food sector and cultural identity.
The Bouboura Family
The Bouboura family, originally from Lemnos, became known for its business activities in Ukraine, where P. Boubouras founded the construction company Gefest in Odessa in 1997. The company grew into one of the country’s largest real estate development groups, with a presence in cities such as Kyiv, Odessa, Mariupol, Sevastopol, and Yalta.
Under the chairmanship of P. Bouboura and with his son, Vasilis, serving as CEO, Gefest has developed a broad portfolio of projects including residential buildings, hospitals, shopping centers, office buildings, educational institutions, and other mixed-use developments, as well as vertically integrated production of building materials.