According to recent reports, a member of the Qatar royal family is said to have purchased the private Greek island of Oxia for a bargain price of less than 5 million Euros. The former owner of the island was an Australian family that initially tried to sell it for a much higher price.
Ripe for development, the Ionian island of Oxia was for sale for 6.9 million Euros, but the advent of increased property taxes resulted in a much lower sale price, according to a ekathimerini.com article. The final bargain price has reportedly dropped to 5 million Euros.
According to “Vladi Private Islands,” the uninhabited island of Oxia is very accessible and ideal for development on some of its 1,236 acres. Although a large part of the island is protected as part of the Natura 2000 ecological network, sources revealed to Ekathimerini that it is likely some of the island will be tourist-developed.
It has not been revealed if the Emir of Qatar, Sheikh Hamad bin Khalifa Al Thani, personally bought the Greek island, or if it was another family member. In February, Digital Journal reported that the Emir’s daughter, Sheikha Al Mayassa Bint Hamad Bin Khalifa Al-Thani, purchased a Cézanne painting for the record breaking price of $2.5 million.
The sale of Greek islands remains a beloved story for press agencies, while the government is forced to privatize its assets in order to overcome the crisis, according to troika’s “mandates.”