Elounda Hills is a large-scale, master-planned coastal development located near Agios Nikolaos in the Lasithi region of Crete, positioned as one of the most ambitious luxury real estate and tourism projects in the Mediterranean. Developed by Mirum Hellas, the project is structured as an integrated destination combining residential, hospitality, and marina infrastructure within a unified long-term vision. With an investment exceeding €700 million and spanning approximately 735 acres, the development represents a strategic shift toward high-end, sustainability-driven real estate in Greece.
The project includes a mix of branded and non-branded residences, primarily villas and apartments, designed to integrate with the natural landscape and coastal topography. In its initial phases, more than 260 residential units are planned, supported by a 5-star eco-luxury hotel operated under the 1 Hotels brand. This combination of branded hospitality and private ownership positions the project within the upper tier of the market, targeting buyers seeking both lifestyle value and long-term asset positioning.
A defining component of Elounda Hills is its marina infrastructure, which is set to become the largest private marina in Greece, with approximately 202 berths, including dedicated capacity for superyachts. Managed by Camper & Nicholsons, the marina is not an accessory feature but a core driver of the project’s international positioning, attracting yacht owners and reinforcing the development’s role as a regional hub for high-end maritime tourism.
The masterplan extends beyond residential and hospitality elements to include a wide range of integrated facilities such as retail areas, dining venues, cultural spaces, and recreational infrastructure. The project is designed as a fully operational environment rather than a standalone property offering, with long-term value tied to the performance of the overall destination. Sustainability is embedded into the development through renewable energy systems, underground infrastructure planning, and advanced water management solutions, aligning the project with evolving environmental standards in luxury real estate.
From an investment perspective, Elounda Hills is positioned as a long-horizon asset rather than a short-term yield-driven opportunity. The phased delivery timeline, with key components such as the marina expected around 2027 and the hotel and initial residences around 2028, reflects the scale and complexity of the development. Future phases extending beyond 2030 will further expand residential and lifestyle offerings, reinforcing its role as a destination-led investment.
Overall, Elounda Hills represents a high-level, infrastructure-driven development where value is derived from location, scale, brand integration, and long-term destination creation. It is best suited for investors and end-users seeking exposure to premium Mediterranean real estate within a controlled, master-planned environment rather than fragmented individual property ownership.
