Canadian Tycoon Set on Buying Patroklos Island

The tourist exploitation of Patroklos island located across Sounio, a 1014 square mile area, is once again in the limelight.

According to trustworthy information, a Greek-Canadian billionaire investor, who has expressed great interest in the tourist exploitation of Patroklos, visited Greece last week. The Lebanese businessman Antoin Malaouf, president and C.E.O. of MMC company, has also repeatedly expressed major interest in buying the island.

Malaouf had been very close to obtaining the island from family Giatrakos in 2008 and was practically ready to invest 15 billion dollars. His efforts had finally not succeeded, due to the bureaucracy-related obstacles and other issues.

(Story by inga Athanasiadou)

Nowadays, the crisis-hit Greece is more “willing” to sacrifice its islands, as it desperately needs investment funds.

Patroklos has lately proven to be a popular hit in several international websites offering Greek private islands for sale with prices starting from €1,500,000, such as the Canadian website, ‘’.

The tourist exploitation of the island is – however – rather difficult to undertake, as several issues delay and obstruct the selling process. Some parts of the island have been declared archaeological sites and others have been declared nature reserves by the “Natura” organization of the Greek government, thus making the possibilities of Patroklos exploitation even fainter.


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