Development of 4 Pharmaceutical Cannabis Licenses in Greece

About this property

Development of 4 Pharmaceutical Cannabis Licenses in Greece. A tremendous opportunity to invest in an innovative project in Greece, is this project for the cultivation of pharmaceutical cannabis, an option for a profitable and secure investment. This project refers to the development of four licenses for vertical cultivation of medicinal cannabis, whose processing and packaging units are to be constructed nearby the town of Thebes in Greece. Nowadays, Greece is one of the very few Countries of the European Union that have adopted a pharmaceutical cannabis-friendly legal framework.

It also has a significantly lower CAPEX and OPEX for the exact same projects compared to the other Countries of the European Union currently permitting this type of cultivation. Thebes is already called “the silicon valley of pharmaceutical cannabis” due to the very high interest from international investors for investing in the surrounding area. S. - having approximately 345 sunny days per year.

Also its farming/cultivation area is flat and well organized having plenty of electricity/natural gas distribution networks in place, and rich underground water resources. It also has a very good, regional, and rural road network, as well as a railway station. It is in close proximity and directly connected through highways/railway with Athens, the capital of Greece, which is approximately 65 kilometers away, to Athens International Airport (70 kilometers) and also to the big international port of Piraeus (80 kilometers). It has to be noticed that currently, pharmaceutical cannabis products are allowed to be exported from Greece only through the custom office of the Port of Piraeus.

As Thebes is a short distance away, it is a great benefit of this development. For investor’s legal and accounting due to diligence’s easiness and for clarity reasons, four new single purpose SPV’s have been established and each one of them has applied for a pharmaceutical cannabis license. None of them has a banking account and there are zero transactions of any kind. 000sqm.

The medium voltage electricity supply network is standing at the edges of the field. 000sqm respectively. Each one of the four SPV’s has leased one of the above-mentioned pieces (plots) with a long-term contract having also a buying option at a specific pre-agreed attractive price. All four SPVs have already implemented the Greek investment law in time to obtain tax exemptions from the state of up to 7 million euros each.

All of the supporting documents and attestations have been gathered supporting the application to the three ministries involved. Installation permits for all four SPVs are expected to be obtained by May 2021.