In recent years, Greece has emerged as a prime destination for Arab investments, with billions of euros flowing into key sectors such as energy, tourism, real estate, data centers, food, and healthcare.
These investments can be seen as a vote of confidence by Arab investors in Greece’s political stability, economic potential, and long-term growth prospects.
The trends are reshaping industries but also signal Greece’s growing importance for Arab funds in the regional and global investment map. Some of the top recent deals involving Arab investors are below, as reported by Oikonomikos Tachydromos (OT).
Healthcare: PureHealth’s Strategic Move
One of the standout transactions in Greece’s healthcare sector is the acquisition of a 60% stake in Hellenic Health Group (HHG) by PureHealth Holding, an Abu Dhabi-based company controlled by the Emirati fund ADQ. HHG is Greece’s largest healthcare provider, operating 10 hospitals, including Metropolitan, Hygeia, and Mitera, as well as 16 diagnostic centers across Greece and Cyprus.
The deal, valued at $2.3 billion, will see PureHealth pay approximately $1.4 billion to CVC Capital Partners. This investment not only reinforces the significance of the healthcare sector in Greece but also positions PureHealth as a key player in the region.
Energy: Masdar’s Historic Acquisition of TERNA Energy
Masdar, a global leader in renewable energy and green hydrogen, recently acquired a 70% stake in TERNA Energy. This transaction, valued at €3.2 billion, marks the largest energy deal in the history of the Athens Stock Exchange and one of the most significant in the EU renewable energy sector.
Masdar’s commitment to investing over $30 billion in renewable energy projects globally is a testament to its focus on sustainability. According to Masdar CEO Mohamed Jameel Al Ramahi, this investment highlights the long-term growth potential of Greece’s renewable energy sector and reinforces Masdar’s commitment to driving sustainable development in the country.
Data Centers: DAMAC and PPC Join Forces
Another landmark deal involves the DAMAC Group and Greece’s Public Power Corporation (PPC), which have partnered to develop a cutting-edge data center in Spata. The project’s first phase entails a €150 million investment to build a 12.5 MW facility, with plans to expand to 25 MW. Construction is set to begin in Q1 2025.
DAMAC, led by Dubai entrepreneur Hussain Sajwani, aims to create a network of data centers with over 150 MW capacity by 2026. This venture underscores the growing importance of digital infrastructure in Greece and its appeal to international investors.
Aquaculture: Aqua Bridge’s Investment in Avramar
The UAE-based Aqua Bridge group has acquired control of Avramar, Greece’s largest fish farming company with approximately 2,000 employees. Aqua Bridge plans to invest €75–80 million in the company’s growth, further solidifying Greece’s position as a leader in the aquaculture industry.
With a portfolio of 16 active aquaculture projects across six countries, Aqua Bridge’s expertise and investment will likely boost innovation and sustainability in Greek aquaculture.
Tourism and Real Estate: High-End Projects by Arab Investors
Olayan Group and TEMES Collaboration
The Olayan Group, with an estimated net worth of $12 billion, has made significant strides in Greece’s tourism and real estate sectors. After selling its stake in Chipita, the group partnered with TEMES, owned by the Konstantakopoulos family, to renovate and rebrand the historic Hilton Athens into “The Ilisian.” They are also involved in developing beachfront hotels and residential tourism complexes as part of the Hellinikon project.
Sheikh Tahnoun bin Zayed Al Nahyan in Porto Heli
Sheikh Tahnoun bin Zayed Al Nahyan of Abu Dhabi has invested €200 million in a luxury resort project in Porto Heli. This development, situated on a 234-acre plot, will feature a Waldorf Astoria-branded hotel and other high-end facilities. Additionally, Sheikh Tahnoun owns a neoclassical building in central Athens and has invested in olive groves in Argolis and Messinia, further diversifying his portfolio.
Dar Global’s Real Estate Expansion
Saudi real estate giant Dar Global, a subsidiary of Dar Al Arkan Real Estate Development Company, has announced plans to enter the Greek market. Building on its legacy of iconic projects, such as Trump Tower Jeddah, Dar Global aims to shape the future of luxury real estate in Greece. The company’s entry reflects the growing international appeal of Greece’s real estate sector.
Conclusion: Greece’s Rising Role in Global Investment
As highlighted by OT’s report, Arab investments in Greece are reshaping key sectors of the economy, from healthcare and energy to tourism and real estate. These investments not only bring much-needed capital but also expertise and innovation, further enhancing Greece’s economic prospects. With projects that prioritize sustainability, digital infrastructure, and luxury tourism, Arab investors are playing a pivotal role in Greece’s transformation into a modern economic hub.