Dolphin sells stake in Greek resort scheme

  Dolphin Capital Investors has sold a 33% stake in its Kea Resort project in Greece for €4.1m (£3.7m).   The AIM-listed investor, which invests mainly in the residential resort sector in south-eastern Europe, said it had sold the stake to Exactarea International, a company affiliated with well-known architect John Heah, who will design the resort.   Following the sale, Dolphin’s stake in the project will be 67%.   Dolphin said the sale implied a total valuation of €12.3m for the site.   John Heah was designer of the Four Seasons Resort in Sayan, Bali, and has won several internationally recognised awards.   The company added it had also signed an agreement with resort operator Aman Resorts to manage a 30-room hotel and 40 residential units at the Kea site.   Miltos Kambourides, managing partner of Dolphin Capital Partners, said: “We are delighted that Aman Resorts and Dolphin have partnered up again to create a superb destination in the Mediterranean, on the Cycladic island of Kea.   “The resort will be designed by John Heah under the personal guidance of Adrian Zecha, founder and chairman of Aman Resorts.   “Exactarea’s investment into the project further aligns the interests of the architect and Dolphin and is a further support of the asset valuations of the Dolphin portfolio.”   nathan.cross@estatesgazette.com