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Peloponnese Region ‐ Investment Profile

0 Region: Quick overview

• The Peloponnese region is one of the thirteen regions of and covers 11.7% of the total area of the country • It includes the prefectures of Arkadia, Argolida, Korinthia, Lakonia and Messinia • Arkadia and Lakonia are the two prefectures of the region with the highest percentage of rural population (67.8% and 67.3% respectively), and Argolida prefecture with the highest percentage in urban population • Key cities include namely Tripoli, Argos, Corinth, Sparta and Argos • Tripoli also serves as the Region’s capital Tripoli • On the west it is surrounded by the Ionian Sea and bordered by the Region of , on the northeast it borders with the region of , while on the east coast it is surrounded by the Sea of Myrtoo Sparta • It has a total area of 15,490 km2 of which 2,154 km² occupied by Kalamata the preftfecture of Argolid a, 4,419 k²km² by the preftfecture of Arkadia, 2,290 km² by the prefecture of Korinthia, 3,636 km² by the prefecture of Lakonia and 2,991 km² Main highways by the prefecture of Messinia Railway network • Tripoli and Kalamata also harbour universities Main cities • Population: 638,942 inhabitants (Census 2001) • Population density: 41.2 inhabitants / km² 1 Peloponnese Region: Quick facts

Investment incentives quickfacts European Program for Peloponnese, Western Greece and the : €1.3 bn • The economic mix of the Region of Peloponnese includes mostly New Investment law: Subsidies for up to 50% of activities in agriculture and tourism services. Small industrial business plans, tax incentives for up to ten years activity has been scarce but picking up over the last years Jessica Holding Fund for Greece: €250m • More specifically, its contribution to the national agricultural Jeremie fund for Greece: €150m production is significant. The region’s agricultural sites correspond to 11% of total sites in Greece. Main agricultural Workforce quickfacts products are fruits (53% of national production), olive oil (65% of Total workforce: 260,000 national production) and potatoes (11% of national production) Employment rate: 62%

• The Peloponnese is also famous for its wine producing areas Employment rate (55‐64 years): 42,5% such as and Mandinea. The region holds the 1st position Employment rate women: 46,6% in terms of the number of producers, wineries, varieties and Number of University faculties: 8 vidineyards in Greece. It actlltually represents 29.1% of the GkGreek vineyard map and produces 1,208 different labels, which ranks Cultural and natural quickfacts the region 1st in terms of the number of wines produced in Archaeological sites: 60 Greece Museums: 20 Natura 2000 regions: 47 Blue flag awarded beaches: 28 2 Peloponnese has a breathtaking geography to offer

• Peloponnese has a characteristic and unique morphology with big mountains occupying a part of the north, and theentiresoutheasternpartofthewesternpartofthe whole of the Peloponnese

• This geographical position gives the region a character of an inland southern gateway to the large island of and the island of Cyprus. This position coupled with the immediate proximity to the metropolitan center of the country, , makes a "bridge" that connects the southern island part of Europewiththecapital of Greece, Western Europe and the Balkans, taking into account the new road links with European networks

• Todayviathecreationofmajorroadsandthegradual improvement of port infrastructure, the location of the region becomes an advantage for a dynamic growth path, situated within the geographical area of the European Union

3 The Peloponnese Region boasts strong performance indicators

Welfare indicators Key performance indicators

Pelopon‐ Total 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 nese Greece Indicator Region Greece GDP (€ m) 6,694 6,816 6,959 7,471 7,896 8,557 9,356 9,986 10,496 n/a 237,494 Population (000s) 639 10,964 % Agriculture 11.3% 13.2% 12.0% 12.3% 10.3% 10.2% 9.2% 8.4% 7.9% n/a 3.8% €16.6 €20.4 GPD per capita * % Industry 35.2% 33.2% 30.9% 28.8% 29.8% 31.5% 32.3% 31.5% 32.5% n/a 16.3% (000s) (000s) % Services 53.6% 53.5% 57.1% 58.9% 59.9% 58.3% 58.5% 60.1% 59.6% n/a 79.9% €12.9 €15.6 Income per capita * New houses (000s) (000s) 5,446 6,364 7,721 8,273 8,189 12,882 9,027 8,345 6,626 5,213 61,490 built €12.0 €15.4 Savings per capita (000s) (000s) Savings (€m) n/a n/a 4,137 4,669 4,896 5,685 6,414 7,128 8,630 8,914 211.469 Population growth per ‐3.1 0.2 1,000 inhabitants * Cars (000s) 89.9 96.8 103.5 108.4 114.7 120.8 126.3 132.1 137.3 141.3 5,132.0 Primary school Power students per 1,000 53 57 consumption 1,996 2,074 2,122 2,253 2,336 2,393 2,536 2,693 2,669 1,996 55,902 inhabitants (TWh) 5* hotels n/a4466888810280 Unemployment rate 7.2% 7.7% 4* hotels n/a4746495755566168721,164 Source: economics.gr; * Indicated data refer 2008, otherwise to 2009 Source: economics.gr

4 The strong economy of the Peloponnese Region is reflected in its export activity

Key exporting goods

Total value of exports: €607m

Pharmaceuticals 1,7% Other • ApproximatelyhalfoftheexportsaredestinedtoEU Medical devices 99%9,9% 5,1% countries Fruit and vegetables • The most extrovert prefecture is that of Argolida, which Vegetable 34,3% oils 8,6% boasts half of the Region’s exports Tobacco products 14,8% • The prefectures of Korinthia and Messinia make up almosttheentireother50% Petroleum products 25,6%

Source: HEPO

5 The Peloponnese Region attracts significant foreign and domestic investment

FDI breakdown per region Foreign vs domestic investments per region

1.057 Peloponnese Other 10% 1.178 813 Western Attica 4% Mainland Greece Peloponnese 621 Macedonia 32% 5% 332 Eastern 370 Macedonia ‐ 262 Thrace 6% Western Greece 645 Foreign Western Eastern Macedonia ‐ 200 Domestic Greece 8% Thrace 500 169 233 Central 147 Macedonia Attica Mainland 944 10% Greece 25% 323 Other 2.497

Source: Invest in Greece Agency Source: Invest in Greece Agency

6 Peloponnese offers an ideal environment for investment

Peloponnese’s advantages ..are enhanced by investment incentives

Peloponnese, has very attractive features such as: • Under the new Investment Incentives Law, Peloponnese 1. Proximity and motorway and railway to Athens and the enjoys attractive investment incentives varying from 30% to mainland 50% of the total investment cost, according to the area and 2. Advanced infrastructure networks the size of the company 3. Natural resources of all kinds • The new Law focuses on supporting sustainable 4. Skilled work force, especially in Tourism and Agriculture investment projects with efficient tax breaks, favorable loans and state aids in selected business activities

* Please refer to the full text of the new Law 3851/2010 for detailed and analytical information

7 Several sectors strive in Peloponnese, presenting concrete investment cases

Corinth

Tourism Argos

Tripoli Renewable Energy Sources

Sparta Kalamata Food and beverage

Main highways Railway network Waste management Main cities

Tourism RES Food 8 Waste Investment opportunities: Tourism

Significant infrastructure Unique competitive advantages

• Greeceheldin2010the2ndplaceamong41countries • The Peloponnese Region holds unique cultural, historic and across Europe, in the European Blue Flag Program with 421 archaeological treasures beaches and 9 marinas • Notably, the first World Heritage site declared from • 28 beaches and 1 Marina are located in the UNESCO, was the Temple of Apollo and the most Peloponnese Region recent the Mediterranean Diet • Messinia Prefecture in the Peloponnese, is included in the • Peloponneseisaregionwithanamazingvarietyinscenery 20 Best Trips for 2011 by the National Geographic Traveler encompassing 47 sites registered and protected by the • The only Integrated Resort in the country, renowned resort Natura 2000 program, for its rare species of flora and fauna. Costa Navarino is to be found in the prefecture of Messinia • These sites form a great "natural touring map”, • 601 of the total 9.559 Hotels that exist in Greece, are to be which includes mountains, wetlands, rivers, and found in the region of Peloponnese peninsulas of extreme beauty • 10 of them belong in the 5 star category • Satisfactory tourism infrastructure with opportunities to develop further high end tourism facilities and services

These translate into concrete business opportunities

Tourism RES Food 9 Waste Tourism Facts & Figures: Peloponnese region

Night s spent at HHtlotel esttblihablishment s & Tourism Arrivals in main airports of Greece‐2009 Campsites by Region ‐ 2009

Regions 2009 % of total Athens 3.143.238 1.954.611 Crete 15.621.455 23,70% 1.325.139 14.636.435 22,20% 1.189.444 Central Macedonia 7.891.793 12,00% 744.225 627.857 Ionian Islands 7.457.180 11,30% 592.456 Attica 7.055.609 10,70% Zakinthos 430.398 Santorini 162.414 Peloponnese 2.830.581 4,30% Aktio 147.574 2.111.634 3,20% Kefallonia 143.438 Western Greece 1.861.313 2,80% 116.203 Skiathos 108.829 1.767.856 2,70% Mykonos 96.745 East Macedonia & Thrace 1.754.483 2,70% 83.942 1.635.463 2,50% Mytilini 71.452 Araxos 41.418 1.015.199 1,50% Kalamata 30.446 West Macedonia 383.269 0,60% Chios 11.967 Greece Total 66.022.270 100,00% Limnos 6.563 Tourism Source: Association of Greek Tourism Enterprises Source: Civil Aviation Authority RES Food 10 Waste Tourism Facts & Figures: Peloponnese region

NbNumber of 5* HHlotels per GGkreek RRiegion ‐ 2009 Total Greece: 280 7 35 2 % of Hotel beds per category as of country’s total in the Peloponnese ‐ 2009 4 21 6 9 1* 4,6% 2* 7,8%

29 3* 8,3%

67 4* 5,1%

10 5* 6,4%

67

Source: Hellenic Chamber of Hotels & Association of Greek Tourism Enterprises ‐ 2009 Tourism RES Food 11 Waste Various tourism segments make up an investment opportunity in the region

Marinas Eco Tourism Golf Resorts

Integrated Resorts Development of existing state & private assets

Tourism RES Food 12 Waste Tourism success story: Costa Navarino Resort, a prime destination in the Mediterranean

• The first already completed phase of Costa Navarino Resort Navarino Dunes features a 1‐kilometre sandy beach amidst lush olive groves. The site is the setting for The Romanos, a Luxury Collection Resort and The Westin Resort. Starwood Hotels & Resorts operates both 5‐ star properties. The two resorts offer extensive facilities and activities, including The Dunes Golf Course, the first signature 18‐hole golf course in Greece, the House of Events conference centre, and a wide range of gourmet experiences, sport and cultural facilities, outdoors activities, branded stores and well‐designed children and youth centres

• Anazoe Spa has also opened in Navarino Dunes. The 4,000 m2 spa ildincludes unique hlitiholistic therap ies bdbased on thecombina tion of the ancient therapeutic expertise and modern cosmetology

• The second phase, the 140 hectare Navarino Bay site will open in the near future and will showcase Banyan Tree all‐pool‐villa resort, the first of its kind in Europe, an 18‐hole signature golf course, as well as another five star hotel

• Two further phases, Navarino Hills and Navarino Blue, will open at a later date

Tourism RES Food 13 Waste Luxury integrated resort in the pipeline: The Porto Heli Collection

• The Porto Heli Collection, spreading over an area of 3,470,000 sq.m., will become home to four five‐star hotels, each one offering a unique style of vacationing and amenities, catering to a diverse range of travelers. In addition, a number of luxury villas, both branded from the hotels and non branded, will be build throughout the different parts of the resort. • Special Features: Whatever style of hotel a visitor seeks, from understated elegance, privacy, and opulent luxury, to an activity‐packed beach holiday with incomparable spa and golf facilities, they will be able to find the perfect holiday destination within The Porto Heli ClltiCollection. • Composition: • Europe’s first villa –integrated Aman Hotel, spa, beach club and residences • The Seafront Villas • The Chedi Hotel, spa, club suites and residences • Jack Nicklaus Signature Golf Course • The Nikki at Porto Heli with hotel suites, serviced apartments and beach club • Golf boutique hotel with suites, golf clubhouse and golf residences Tourism • Equestrian centre, tennis academy, kid’s club, beach club RES Food 14 Waste Investment opportunities: Renewable Energy Sources – Peloponnese Current Status

Wind Energy Capacity (MW) currently in operation or under construction

Wind Solar Hydro 21% 24% Argolida Argolida 319,75 45,83 2,00 Arcadia 467,65 75,50 11,16 Lakonia Lakonia 355,90 69,31 3,99 24% 31% Messinia Messinia 355,90 47,71 0 Total 1499,20 238,35 17,15

Solar Energy Hydro Plants

0%

12% 24% 21% 23% Argolida Argolida Arcadia Arcadia Lakonia Lakonia 24% 31% Messinia Messinia 65%

Tourism RES Food 15 Waste Investment opportunities: Renewable Energy Sources – Unexploited Capacity

Peloponnese has unexploited capacity in Solar and Wind energy production. As shown in the attached Maps the potential is tremendous.

Solar energy capacity Wind energy capacity

Tourism RES Food 16 Waste Investment opportunities: Renewable Energy Sources – National Targets

Targeted participation of RES & conventional technology in electricity generation for the year 2020 in market shares & numerical targets

• Targets set by the Committee for the National Energy Strategy • Targets are binding for the Greek government • Wind energy is expected to dominate electricity generation from RES

National Targets for the year 2020 7.500

Participation of RES & Conventional Technology in Electricity Generation for the year 2020 4.650

PV 1,44% Hydro 6,08% Biomass– 3.237 Biogas Geothermal 2.200 0,24% 0.53% 1.297,7 Wind 24,09% 350 0 120 198,3 0 250 44

Conventional Concetrated Hydro Geothermal PV Concetraded Wind Biomass 66,90% Solar 0.73% Solar Capacity 2010 Target 2020 Source: YPEKA, National

Renewable Energy Action Plan Tourism RES Source: Committee for the National Energy Strategy Food 17 Waste Investment opportunities: Food & Beverage ‐ Mediterranean Diet, olive oil sector

Facts on the F&B sector …which form an excellent business case

• Greece holds the 3rd place in world olive oil production • Olives are grown mainly in mainland Greece. The (after Spain and Italy) with more than 140 million trees, Peloponnese, accounts for approximately 65% of annual which produce about 400,000 tons of olive oil annually, of domestic production whic h 75‐80% is extra viiirgin oil (hig hes t quality ) • The prefecture of Messinia in the Peloponnese is one of • This ranks Greece the 1st country in the world in the few areas where the harvesting of olives is still made by production of extra virgin olive oil (Italy is 2nd with hand and not with the help of machines 40‐45% of its annual production being extra virgin olive oil and Spain 3rd with 25‐30%)

• In recent years, scientific and medical studies have concluded that the Mediterranean diet is the best recipe for longevity and is becoming more widely accepted for its positive effects on health

Tourism RES Food 18 Waste Investment opportunities: FdFood & Beverage ‐ MdiMediterranean Diet, Wine

Facts on the F&B sector

• The Peloponnese is also famous for its wine producing areas such as Nemea and Mandinea (Appellation d’ origine contrôlée)

• The region holds the 1st position in terms of the number of producers, wiiineries, wine varitiety, vidineyard ldland si)ize)

• The region represents 29.1% of the Greek vineyard map and produces 1.208 different kinds of wine, which ranks the region 1st in terms of the number of wines produced

• A tour of the area's vineyards and local wineries offers the visitor an opportunity for excellent wine tasting, as well as an introduction to the history and art of local winemaking, grape varieties and the region's winemaking ritual with roots deep in antiquity

Tourism RES Food 19 Waste Investment opportunities: Waste management

EU imposed targets …create sound investment opportunities

According to EU and national directives Greece should: • Creation of modern, integrated facilities for treating and • recover at least 60% by weight all packaging waste by 2011 which includes recycling at least 55% disposing municipal solid waste Current Status: 50% • Energy recovery from organic waste • decrease biodegradable waste that is sent to landfill by • • 1,100,000 tons in 2010 Rehabilitation of the existing landfills • 1,900,000 tons in 2013 and • Environmental sound management of industrial, medical • 2,700,000 tons in 2020 Current Status: 461,079 tons (42% target coverage) and hazardous waste

• Construction of suitable transfer station networks and recycling centres

• Selective collection at source and further recycling of municipal waste

• Water treatment and sea or brackish water desalination

• Wastewater and sewage treatment

Tourism RES Food 20 Waste There are several investment opportunities available in the Peloponnese Region

Project Sector Description County reference

Development of 5* resort and vacation residences project at Porto Tourism Argolida IP7 Heli

Tourism Development of vacation residences at Porto Argolida IP17

Tourism Development of marina with 400 births in Messinia IP27

Tourism Development of a hotel in Kardamili Messinia IP16

RES Development of Vromosykia & Lamboussa wind farms Argolida RES4

RES Development of Gropes & Kalogerovouni wind farms Lakonia RES4

Entire ICT Administration of fiber optic metropolitan area networks ICT15 region

21 The local government is pushing projects to promote the attractiveness of the Region

• Reformation of the Corinth Canal based on its architecture and design: The Canal is the gateway to the Peloponnese region and has a width of approximately 6 km

• Restoration of Bourtzi: The restoration of Bourtzi is planned to materialise through NSRF funding

22 The local government is pushing projects to promote the attractiveness of the Region

• Development of Karathonas: It is planned to develop Karathonas, which lies next to , with high end tourism projects

• Improve management of Dyros Caves: It is estimated that by improving the management of Dyros Caves the annual visitors could increase by 50% to 150,000

23 24