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Drakopoulos law firm advises a major Saudi conglomerate on a real estate acquisition

April 2014

Drakopoulos, a law firm with an offering of legal services across 11 countries in South Eastern Europe, advises a major Saudi conglomerate on a multi-million euro real estate acquisition in the Southern suburbs of Athens, Greece near the famous Athens Riviera.



The deal consisted of a cross-border acquisition involving the Saudi, Swiss, Luxembourg and Greek jurisdictions. This is the first investment in Greece of the Saudi Group, which is active in many industries and several countries in the Middle East, the US and Europe, and constitutes a vote of confidence in the prospects of the Greek economy, since the Saudi Group is currently looking closely in the local market for more opportunities, mainly in real estate.


The plans of the new owners include the total refurbishment of the property and its transformation into a luxury five star boutique complex of suites which are expected to attract elite tourists from the Middle East.


The Saudi Group was advised by Drakopoulos in Greece and KSA and Ducrest Heggli Avocats in Switzerland and Luxembourg, while Ince and Co., Piraeus Branch represented the Seller.


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