The company`s strategy is to build a portfolio of mixed-use leisure real estate projects throughout the Region, with an initial focus in Greece and Cyprus. The company intends to identify appropriate projects and subject to due diligence, financing and Board approval, acquire such projects. The company may work with one or more parties on a project and acquire a share in the project. The company will then develop the project using, where appropriate, third party project managers and developers. Typically, each project will utilise internationally acclaimed architects and designers who will work to position the project in the luxury segment of the market, backed up by strong PR and an international marketing campaign. Once a project has been launched, the project will either be sold through premium distribution channels such as Terra Sotheby`s International Realty or operated by the Group or recognised international operators.

The company generally intends to have control of the projects in which the Group participates. In circumstances where the Group will be a minority shareholder in a project, the company will seek to achieve minority protection rights for the Group, through appropriate provisions set out in shareholders` agreements.

Project Criteria

The company will aim to acquire projects which include, or are planned to include, one or more of the following elements:

The Directors anticipate that all of the projects, with the exception of those that include golf courses, will be located in coastal areas of the Region and within an hour`s drive from an international airport. In the future, the company may also consider acquiring projects in other countries within Southeast Europe