Grivalia picks up Panama island


Greek real estate company Grivalia has purchased a majority stake in a private island in Panama for 27 million euros, the company said in a statement.

Through its subsidiary Grivalia Hospitality, the Greek company said that it purchased a 60% stake of the Pearl Island Project from Dolphin Capital Investors (DCI).

The island, called Isla Pedro Gonzalez is one of the largest private islands in the Archipelagos of Las Perlas of Panama, covering 1,323 hectares. It has 30 kilometers of seafront and 5 beaches and is designed to become one of the most exclusive high-end ecological destinations in the Central America region with at least 3 luxurious resorts, and a big number of branded villas and residential units, Grivalia said a statement.

Grivalia is one of Greece’s leading real estate companies and is majority owned by Toronto based Fairfax Financial Holdings.

George Chryssikos, chief executive of the Grivalia Group said that Pearl Island is one of the most distinctive private islands worldwide, with unparalleled beauty that offers a blend of sustainable development and natural preservation