DIMAND has sold the coastal property at Gournes, Heraklion, to the Sani/Ikos Group for approximately €72.5m, about a year after acquiring it.
The listed company announced that the transfer of all shares in «Gournes Development and Management of Real Estate S.A.» to IKOS LUXCO S.à r.l., a company in the Sani/Ikos Group, had been completed. The sale was carried out through its wholly owned subsidiary, Arcela Investments Limited. Gournes S.A. owns a coastal plot of approximately 346,000 sq m in the Municipality of Hersonissos, Heraklion, Crete. DIMAND acquired it in September 2025.
The consideration was calculated using the adjusted net asset value method. Part of the proceeds was used to repay in full a €39.9m bond loan taken out by the company. DIMAND said the transaction was significant for the Group and would have a positive impact on its financial results.
The buyer plans to develop an Ikos Resort on the site, with approximately 600 rooms, suites and villas. DIMAND is in discussions with the buyer on how to support the smooth continuation of the permitting process. The Sani/Ikos Group currently has 13 resorts with 3,991 rooms and suites in Greece and Spain. It is also developing three more, with a total of 1,550 rooms, in Greece, Spain and Portugal.
The announcement
The société anonyme under the name «DIMAND S.A. REAL ESTATE DEVELOPMENT AND EXPLOITATION, CONSTRUCTION, SERVICES AND HOLDINGS» and the trade name «DIMAND S.A.» (the «Company») informs the investment community, in accordance with the provisions of Law 3556/2007 (Article 3(1)(16)(bb) and Article 21), Regulation (EU) 596/2014 of the European Parliament and of the Council on market abuse, and the Euronext Athens Rulebook, as in force, that the sale to IKOS LUXCO S.À.R.L., a company in the Sani/Ikos Group (the «Purchaser»), of all shares in its indirectly wholly owned subsidiary «GOURNES DEVELOPMENT AND MANAGEMENT OF REAL ESTATE S.A.» (hereinafter «GOURNES S.A.») was completed today through its wholly owned subsidiary Arcela Investments Limited.
GOURNES S.A. owns a coastal plot of approximately 346,000 sq m at Gournes in the Municipality of Hersonissos, Heraklion, Crete. The Group acquired GOURNES S.A. in September 2025, as announced on 10 September 2025.
The consideration for the transfer of all shares in GOURNES S.A. amounted to approximately €72.5m and was calculated taking into account the company’s financial position at completion, using the adjusted net asset value method. Part of the consideration was used to repay in full the Company’s bond loan, with principal of €39.9m.
The transaction is significant for the Group and has a positive impact on its financial results.
In addition, the Company is in discussions with the Purchaser about supporting the smooth continuation of the permitting process for the property, where the Purchaser plans to develop an Ikos Resort hotel with approximately 600 rooms, suites and villas. The Sani/Ikos Group develops and operates luxury coastal resorts in the Mediterranean under the Sani Resort and Ikos Resorts brands. It currently has 13 resorts with 3,991 rooms and suites in Greece and Spain, with a further three resorts and a total of 1,550 rooms under development in Greece, Spain and Portugal. The Company will inform the investment community of any developments, if required under the applicable regulatory framework.