The emir of Qatar bought six islands in the Ionian Sea by 8.5 million euros

The emir of Qatar, Hamad bin Jaliga Al Thani, has bought on Monday a total of six Greek islands located in the Ionian Sea by the price of € 8.5 million, as reported by the British newspaper The Guardian.


The Qatari emir, Sheikh Hamad bin Khalif al Thani, seen with his wife Sheikha Mozah Bint Nasser Al Missned, is one of the world's richest men

Emir of Qatar Hamad bin Khalifa Al-Thani has bought the Island of Oxeia in the Ionian Sea together with five smaller islands, which belong to the Echinades group of islands. The total price of these properties is approximately 8.5 million euro. They were privately owned and the municipality of Ithaca in the Ionian Sea plays only an administrative role there. The area of Oxeia ​​is 4,200 km2, for which the Arab magnate paid 4.9 million euro. The other five smaller islands have a total area of ​​1,600 km2 and were sold for a total of 3.5 million euro.



Ithaca’s mayor Yiannis Kasianos told Mega TV that the Emir wanted to buy one island in the Ionian Sea for each of his 24 children. They are from three marriages and he has 11 sons and 13 daughters. This information has not been confirmed but Greek media report that Khalifa Al Thani has been visiting the Ionian Islands for years. According to Kasianos, the Emir has promised that if the transactions for the purchase of the islands were smooth, he would invest around seven million euro in the building of a network to supply affordable water from the Astakos bay to the island chain.

The agreement has taken 18 months to close due to the bureaucratic process, as he has indicated the Mayor of Ithaca. “Greece is that kind of place. Even when you buy an island, even when you’re the emir of Qatar, it cost you a year and a half through paperwork”, valued.

The Islands, known as Equinadas Islands, are located off the coast of Acarnania, at the western entrance of the Gulf of Corinth. Al Thani, he showed his interest in buying last year after reaching the place on his private yacht.

Buying has become the largest private investment in Greece since the start of the economic crisis in the country. Initially, the owners of the island of Oxia requested payment of seven million euros, but they finally left it below the five million.

Last week Denis Grivas, a greco-australiano citizen whose family owned the title of the other five islands almost since the founding of the modern Greece, accepted the proposal of the qatari emir.

“The Islands have been owned by my family for more than 150 years, but now we are not sufficiently rich to keep such valuable properties”, said. “We are very happy with the sale, they have been on the market nearly 40 years”, added Grivas.


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