Phaea’s New Luxury Resort Investment to Transform Milos into a Premier Destination, Get the Details Here

Published on November 30, 2025

Milos is one of the most popular islands in the Cyclades and is about to receive a five-star resort that will bring luxury to the area. Phaea has recently announced the planned resort and the Sbokos and Vassilakis families have committed to funding it. This investment will allow Milos to capitalize on the increased interest in high-end tourism due to the increased pricey accommodation options. This investment is part of Phaea’s expansion of their luxury accommodation in Greece and will further position the company in the high-end tourism market.

A New Luxury Resort in Milos

On November 26, 2025, Phaea received the official building permit to construct a state-of-the-art five-star hotel complex in Milos. The resort will be situated in the scenic area of “Plathiena,” a prime location on the island that offers breathtaking views of the Aegean Sea. With a total area of 21,455.65 square meters, the development will feature 96 luxury beds and a host of high-end amenities designed to cater to the growing demand for sustainable, luxury tourism.

The hotel complex will be built with an eye toward blending seamlessly into Milos’ natural landscape, which is renowned for its striking geological formations. The architectural design includes ground-floor and two-story buildings with underground spaces, thick exposed stone masonry walls, and water features like indoor and outdoor swimming pools. With a construction area of 3,842.23 square meters and a maximum height of 6.9 meters, the project will offer a luxurious yet environmentally-conscious setting for travelers seeking exclusivity and relaxation.

Milos: A Rising Star in the Luxury Travel Market

Milos’ recent rise as a tourist hotspot is no accident. The island, once known primarily for its raw, untouched beauty, has experienced a surge in interest from higher-income travelers in recent years. Its unique geological landscapes, stunning beaches, and authentic local culture set it apart from the more commercialized islands in the Cyclades, making it an ideal location for Phaea’s “neo-luxury” tourism model.

Milos’ appeal lies in its ability to provide travelers with an unspoiled, authentic experience, coupled with high-end hospitality options. The island’s focus on low environmental impact and preserving its natural topography aligns with the growing global demand for sustainable tourism. As such, the new luxury resort being developed by Phaea is expected to raise the island’s profile further, attracting affluent tourists seeking an immersive, yet luxurious escape.

The Impact of Phaea’s Investment on Local Communities

The new resort in Milos is not just a luxury investment—it is poised to have a significant economic impact on the island and the broader region. The project is expected to create numerous direct and indirect job opportunities, ranging from construction and hospitality to local services and tourism-related businesses. The influx of tourists to the area will also boost demand for supplies and collaborations with local producers, benefiting the community’s economy.

Phaea’s commitment to integrating its developments with the local economy is an essential part of its business model. The company has a history of supporting the circular economy in regions where it operates, ensuring that its investments not only benefit the tourism sector but also have a lasting positive effect on the surrounding communities. For Milos, this means greater job opportunities, more local partnerships, and a strengthened economic base as the island becomes a more established destination for luxury tourism.

Expanding Phaea’s Luxury Portfolio Across Greece

The Milos project is part of a larger vision by Phaea to expand its luxury tourism offerings across Greece. The company is already making waves in Crete, with a series of large-scale developments that focus on combining sustainability with luxury. One of the company’s most prominent projects is the Integrated Tourist Complex in Plaka Elounda, a €100 million investment that will provide 631 beds, including the Rosewood Blue Palace hotel, the first of its kind in Greece, set to open in 2026.

Another notable investment is the €121.11 million project in the Skouros area of South Crete, which will include 140 rooms, 30 tourist residences, dining areas, a rejuvenation center, and an agricultural sector focusing on organic products. This commitment to sustainable luxury is consistent across all of Phaea’s projects, positioning the company as a leader in eco-conscious tourism in Greece.

Sustainability at the Core of Phaea’s Philosophy

Sustainability is at the core of Phaea’s tourism strategy, and this new project in Milos is no exception. The company has consistently prioritized environmental conservation and community involvement in its developments. By focusing on low-impact construction methods, the use of sustainable materials, and the integration of natural elements into its designs, Phaea ensures that its resorts harmonize with the surrounding environment, enhancing the overall guest experience without compromising the island’s unique beauty.

Phaea’s efforts in sustainable tourism extend beyond construction and operations. The company has also been instrumental in promoting local cultural experiences, collaborating with local artisans and businesses to offer tourists a more authentic and meaningful experience. This approach helps create a long-term, positive impact on both the environment and the local community.

The Future of Tourism in Milos and Greece

Phaea is advancing Milos’ tourism advancement with new luxury accommodations, the first of their kind on the island. It is setting the tone for high value to be placed on Milos as investment is the first opportunity for Milos to adopt a more vintage of eco-sustainable tourism, prioritizing the safety of the biosphere and offering a high calibre experience to tourism.