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| The Company was founded in August 2002 in Nicosia,
Cyprus as W&D Thea Constructions Ltd. The purpose of the Company
is to acquire land and build luxury accommodation for sale –
initially in the Argolida region of Peloponnissos, Greece. The two shareholders and joint managers are: Jeremy Watts, who had a career in general management, lives in Porto Heli and is a part-time director of Loyalward Limited, a subsidiary of Minoan Group, a British company developing an integrated tourist project in Eastern Crete; and Takis Dimarakis, a property developer born and raised in the Porto Heli area ( his English wife, Clare, runs a property management company ). |
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| The Porto Heli area has attracted large amounts of investment in
recent years to improve the infrastructure. This has instilled a confidence
within the community, which has seen the opening of new restaurants,
shops, renovated hotels and beaches with improved water sports facilities.
The property market is also seeing positive movement with land prices increasing by as much as 20% pa over recent years. The development of the Kilada Hills golf complex will be a huge boost for the area and will continue to push property prices upwards and enhance the rental market. With 300 days of sun a year and only a short trip from Athens this will make Porto Heli a premier property hot spot for wealthy Athenians and international holidaymakers. |
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