The historic “Asani” building, in the heart of Corfu’s old town, is being developed by Kontos Concreate, which is moving forward with its conversion into a 4-star hotel, following the signing of the contract with the Public Properties Company (ETAD).
The investment, with a budget of €3 million, as stated on the Kontos Concreate website, provides for the development of a 20-room hotel, with the project now moving to the next phase, that of licensing maturation before the start of works.
Through the contract that was signed, Kontos Concreate leases the property for thirty years, with the possibility of extending for another ten, while also undertaking the implementation of the investment program for the restoration and renovation of the building.
It is recalled that Kontos Concreate had emerged as the highest bidder in ETAD’s electronic tender for the long-term lease of the property, in which four investment schemes had participated. The process was completed in June 2025, with the company’s offer amounting to €33,502.42.
The investment in “Asani”
According to the information presented by Kontos Concreate itself, the project concerns the study, construction and management of the property, with the investment plan more specifically providing for the full renovation and restoration of the building, as well as structural reinforcement works, so that it can acquire its new use.
At the same time, the planning includes the architectural and functional upgrade of the property and the installation of new technological and energy infrastructure. Particular emphasis is placed on preserving its architectural features, with the company stating that the interventions will be combined with the safeguarding of its authentic elements and materials.
The company’s goal is “the creation of a high-specification luxury hospitality destination, which will combine historical heritage with contemporary luxury hospitality,” as Kontos Concreate itself characteristically states.
“Asani” is a six-storey building with a total area of 867.4 sq.m., located in the central Town Hall square. The property lies within the unified archaeological site of Paleopolis and Corfu’s old town, which is included in UNESCO’s World Heritage List.
The historic character and location of the property make the licensing phase that follows critical, as the planned interventions to the building must be approved before construction works begin.
“The project aspires to become a model for the reuse of historic building stock, redefining the concept of luxury accommodation within an authentic monumental environment,” the company itself points out.
The profile of Kontos Concreate
Behind the redevelopment project of the “Asani” building is a company with roots in construction rather than in the hotel sector. Kontos Concreate ATE, based in Kifisia, was founded in 2018 and is active in the construction of public and private projects, holding a 5th-class contractor’s license. At the helm of the company is Panagiotis Kontos as chairman of the Board of Directors, with Nikolaos Kontos in the position of vice chairman.
The spearhead of its activity consists of restorations of historic buildings and monuments, bioclimatic redevelopments and infrastructure projects. Its portfolio includes, among other things, the restoration of buildings at the historic site of the “Palataki” Tower and the renovation of the Old Gymnasium of Leonidio.
It already has a presence in tourism projects as well. Among these, the company presents the study and construction of tourist accommodations in Kythira, while its portfolio also includes private projects in destinations such as Santorini and Tzia.
The company also has its own design department and undertakes projects from planning to construction, while another field of its activity is energy, with a presence in Renewable Energy Sources projects.
At the same time, Kontos Concreate is also active as an investor in the real estate development sector. It states that it uses different development models, including long-term leasing in exchange for construction and exploitation, land-for-flats arrangements, as well as the purchase and development of properties for its own account or for third parties, with partial or full self-financing of their construction.
It should be noted that the development of the historic “Asani” building is part of ETAD’s broader strategic planning for the activation of properties with particular cultural value and their reintegration into the economic and social life of the areas where they are located.