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| No Shangri-La in Greece |
Lahham said more than half of the assets up for sale comprises land for commercial or residential development, which is unattractive because of the difficulty of securing financing to build in Greece. His firm was attracted by the potential of Greek tourism but legislation made it difficult for foreign companies to develop the country's islands and beaches. "Greece is a fantastic tourism destination with very undeveloped infrastructure. There isn't a Four Seasons or a Shangri-La or a Peninsula or any of the major hotel chains in Greece," he said. "It's strange, they would love to be there and we would love to build it for them, but somehow regulations don't allow you to do so."
