Green Light for the Luxury Settlement of 5,900 Residents and Workers in Crete

The Environmental and Spatial Planning Committee of the Region of Crete has issued a positive opinion on the Environmental Impact Assessment of the project: Environmental Upgrade Area and Private Urban Development covering a total area of 1,215.293 acres in the location of Triopetra, Municipality of Agios Vasileios, Rethymno, with project developer Emerald Developments S.A.

This approval concerns the second phase of the project. Upon full development, after the completion of all construction phases, the settlement’s residents will number 5,646 (maximum project capacity). The project’s infrastructure has been designed for 5,900 equivalent residents, taking into account workers and visitors.

The workforce is estimated at 300 employees working in shifts throughout the day, while visitors are estimated at 570 during peak periods, also spread throughout the day. According to the study, since houses and swimming pools are not yet designed at this stage, it is estimated that 20% of households will have a pool with an average size of 40 sq.m.

The Triopetra Project will be developed on the company’s privately-owned land in Rethymno, with a total area of 1,600 acres. Inspired by the natural landscape and the cultural heritage of the region, Emerald aims to create a leading seaside residential and leisure resort at the southernmost point of Europe.

Its design, architecture, and operation will align with Crete’s ecological and cultural characteristics, which it will protect, showcase, and enhance. The resort, designed with ecological principles and offering unprecedented luxury that meets the highest standards, aspires to become one of the most sought-after destinations in the Mediterranean.

The project will target high-end markets primarily from Germany, the United Kingdom, France, the Netherlands, Scandinavian countries, the United States, and Greece.

• Phase One

In the first phase, an Integrated Tourist Development will be built along the beachfront, covering an area of 279,231 sq.m.

This phase includes the creation of a low-rise, high-quality luxury destination, aimed at both domestic and international markets. It will be an exclusive residential and hospitality complex blending harmoniously with the natural landscape, offering unobstructed sea views.

Specifically, the first phase extends along Triopetra’s unspoiled beach, covering 279,231 sq.m. with a total built-up area of 29,836 sq.m., and will include a five-star hotel operated by an international chain. The minimum room size will be 55 sq.m., and more than half the rooms will feature private infinity pools overlooking the sea.

The residential section will have a total built-up area of 12,787 sq.m., consisting of branded luxury residences ranging from 250 to 550 sq.m. for sale, with full access to hotel amenities and managed services.

The spa, covering 2,700 sq.m., will offer wellness treatments, a gym, indoor pool, yoga and dance studios, hammam, and jacuzzi, utilizing local herbs.

A 1,400 sq.m. conference center will host corporate and social events, while facilities will include three tennis courts, indoor and outdoor pools, shops, a playground, multimedia room, smoking lounge, and an entertainment center.

Gastronomy will be based on local products, with restaurants and cafés showcasing authentic Cretan cuisine. The beach will be organized for water sports, diving, and excursions, while nature- and tradition-based activities will be offered in cooperation with Phase Two.

• Phase Two

The second phase foresees the development of a luxury settlement on the adjacent 1,330-acre site.

Following the hotel’s completion, construction will gradually begin on an autonomous, high-standard settlement with luxury villas, maisonettes, and apartments in an amphitheatrical layout, centered around a main square with dining venues, cultural events, an amphitheater, and shops.

A key feature will be the private Country Club, with tennis courts, swimming pools, gym, children’s theme park, beauty salon, event halls, and shops.

The development will also promote agritourism, involving visitors in farming, pottery, cooking, and outdoor activities such as hiking, horseback riding, archery, and water sports.

Both phases will operate complementarily, enhancing the overall experience and attracting visitors year-round.

Studies and Expertise

All financial, technical, and urban planning studies have been assigned to reputable Greek and international firms. U.S.-based SASAKI developed the initial concept masterplan, while U.K.-based HKS created the final, detailed masterplan. Both firms specialize in large-scale developments and have designed renowned resorts and real estate projects in the U.S., Europe, the Caribbean, and Asia.

U.K.-based AECOM and later HKS Hospitality Advisory conducted market and feasibility studies. Both firms bring extensive international experience in tourism and real estate consulting and are recognized for their expertise.

Greek firms Tsakiris – Moisiadi, Chaidarlis, Denco Transport, Enveco, Makridis Associates, LDK, Tarnaras, and Geoper are responsible for all required technical studies, compliance with legal prerequisites, and the project’s licensing process.

It should be noted that Emerald Developments S.A. is a real estate development company based in Athens and part of the Cyprus-based Photos Photiades Group. Founded in 1942, the Group consists of 40 companies with strong positions in industry, trade, insurance, construction, and land development, both in Cyprus and internationally.