Sani/Ikos Group acquires two Heraklion sites for new luxury resorts
Sani/Ikos Group has acquired two seafront properties in Heraklion, Crete, to build two new luxury Ikos resorts with a combined capacity of about 1,100 rooms, suites and villas. The Group bought a 346-stremma (about 34.6-hectare) plot in Gournes, in the Municipality of Hersonissos, and the Out of the Blue Resort in Agia Pelagia. Completion of both projects is expected in 2031-2032, according to the Group.
Gournes: a large plot near the new Kastelli airport
The Gournes site was previously owned by developer DIMAND. Sani/Ikos paid approximately €72.5 million for the land, according to a statement from the listed company. The plot sits near the new Heraklion International Airport under construction at Kastelli, a factor the Group says adds strategic value to the location. Sani/Ikos plans to build one of the largest resorts in its Ikos chain there, though detailed plans for the project have not yet been released.
Agia Pelagia: new chapter for the Out of the Blue Resort
The second acquisition involves the Out of the Blue Resort in Agia Pelagia, built on a private seafront peninsula of about 140 stremmata (roughly 14 hectares). The property was long associated with the Kapsis family before passing to an investment vehicle controlled by Hines and Henderson Park, and has now been acquired by Sani/Ikos. The Group plans to renovate the complex into an Ikos-branded resort.
Lambis Pachygiannakis, Secretary General and Senior Investment Director of Sani/Ikos Group, confirmed that extensive renovation and a full upgrade of the facilities are planned. The new unit in Agia Pelagia is designed to have about 500 rooms and suites, the Group said, adding that further details on the investment amount and specific features are expected to be announced in the coming period.
Third Ikos resort in Crete, after Kissamos
The two new projects follow Ikos Kissamos in Chania, the chain’s first resort on Crete, which opened in spring 2026. That investment exceeded €220 million and covers about 214 stremmata with 600 metres of beachfront on the Kissamos bay. According to figures released by the Group, the resort’s first season recorded occupancy above 90%.
A second development phase at Ikos Kissamos is already planned, adding 100 rooms and suites with operation scheduled for 2028. Once complete, the resort will have 520 rooms, suites and bungalows in total, along with eight restaurants and nine shared pools. With the Gournes and Agia Pelagia projects added, the Group will operate three Ikos resorts in Crete.
Jobs and local economic impact
Sani/Ikos Group says large resort developments create direct and indirect jobs and generate opportunities for partnerships with Cretan businesses and producers. At Ikos Kissamos, the Group reports that direct jobs created and planned exceed 850, with more than 70% of raw materials used at the resort sourced from local producers.
No figures on jobs or total construction costs have yet been announced for the two new Heraklion projects. The planned capacity of about 1,100 rooms, suites and villas across both sites nonetheless indicates the scale of the plan and its potential impact on the wider area, which also includes an expanding range of places to stay in Crete as new resorts come online.
A €1 billion-plus investment programme
The Heraklion acquisitions are part of a broader five-year investment programme exceeding €1 billion, covering new properties and upgrades in Greece, Spain and Portugal. The Group currently operates 13 owned resorts in Greece and Spain under the Sani and Ikos brands, with a combined capacity of 3,991 rooms and suites.
Three further Ikos resorts, totalling 1,550 rooms, suites and villas, are under development in Halkidiki, Marbella in Spain, and the Algarve in Portugal, with operation planned by 2029. The programme also includes the renovation of 290 rooms and suites at Ikos Oceania in Halkidiki, an upgrade of luxury villas at Ikos Dassia in Corfu, and work at Porto Sani and Sani Beach.
Crete’s strategic role, according to the Group
Pachygiannakis said Crete holds strategic importance for the Group, noting that the successful launch of Ikos Kissamos was a significant step for its further expansion on the island. He pointed to the new international airport at Kastelli, saying its operation is expected to improve Heraklion’s international accessibility and strengthen its appeal as a destination.
According to Pachygiannakis, the investments in Gournes and Agia Pelagia reflect the Group’s long-term confidence in Crete’s prospects and aim to meet rising demand for high-end hospitality services. Based on current planning, both Heraklion projects are expected to be completed in 2031-2032, with further details on permits, construction timelines and job creation to be released in the coming period.
