“Merlin Estate” - Sale of a prime property located in Corfu

The Merlin Estate is a unique beachfront property spreading over 581,000 m², that enjoys a beautiful natural surrounding, easy accessibility and proximity to key locations of Corfu. It is an ideal asset in terms of size and characteristics, benefiting from highly favourable zoning regulation that provides for a mixed-use development comprising both luxury hotel operation potentially combined with secondary housing. Its natural quality and location together with its various potential value-enhancing development options, allow it to capitalise on the attractiveness of Corfu as a global tourist destination.

Merlin Estate

The two leading Greek banking institutions that own the Merlin Estate (the “Owners”) have retained external advisers who have completed a Technical and Legal Due Diligence as well as a feasibility study, in order to explore the most favorable development options in compliance with the current applicable legislation. Due Diligence exercise ascertains that it is free from archaeological, forestry and sea-shore delineation restrictions and enjoys ownership titles clarity.


The contemplated transaction is envisaged to be conducted through a swift one-phase sale process scheduled to be launched within Q4 2016. The full terms and conditions of the sale process shall be included in a process letter to be published in due course. Access to further information will be provided by means of a virtual data room to parties expressing interest and willing to sign a confidentiality agreement. This publication does not constitute an offer, or an investment recommendation or advice, nor is it intended to form the basis of any investment decision.


Alpha Bank is acting as the sole financial adviser for the contemplated transaction and will not be responsible to anyone other than the Owners for providing advice in relation to the process or the contents of this announcement or any other matters referred to herein. Should you be interested in assessing this unique investment opportunity, please contact Alpha Bank at the following contact details:

More information

Alpha Bank

Nikolaos A. Baziotis

Head Corporate Finance Division

Despina N. Kantzi

Associate Director

Tel: +30 210 326 2862



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