IKTINOS HELLAS S.A. announces that, further to the execution of the Asset Management Agreement (“AMA”) with CBE Capital Ltd., London, regarding the strategic development, management and promotion process of its property in Sitia Bay, Crete, Greece, it has jointly agreed with CBE Capital Ltd. a detailed Letter of Intent with Auberge Resorts Collection, Bethesda, MD, USA (Auberge Resorts Collection), concerning the potential future management and branding of an ultra-luxury hotel and branded residences development on the property.
CBE Capital Ltd. is a London-based private real estate investment firm specializing in luxury hospitality and branded residence investments, with an established track record in Europe, including Italy and Greece.