Travel/Tourism
Spanish Withdrawal to Fuel Demand for Greek Golden Visas
The latest forecast from Astons, suggests that the number of applicants looking to secure a Greek Golden Visa in 2024 is set to increase for the fourth consecutive year.
Astons has analysed data around the number of Greek Golden Visa applications submitted on an annual basis between 2019 and November 2024, before forecasting what 2024’s annual application total is set to be once December’s numbers are accounted for.
The analysis reveals that 2024 finished on a high when it comes to demand for Greek Golden Visas.
By November, the estimated total number of applications stood at 8,059, with Aston’s analysis revealing that 995 were submitted in October alone, 914 submitted in November, and a forecasted total of 778 submitted in December.
2024’s enormous demand for Greek Golden Visas was driven by investors looking to get in ahead of significant changes implemented to the scheme which increased the minimum investment threshold to €800,000 across the entire Athenian Riviera, Thessaloniki, and all major islands.
This isn’t the first time that changes to the Greek Golden Visa programme have resulted in surging levels of demand.
In 2023, Greece raised the threshold for real estate investment from €250,000 to €500,000 in the most attractive and developed regions of the country, including all of central Athens. However, in the Athenian Riviera, certain areas retained a threshold of €250,000, such as the Piraeus region.
As a result of this change, 2022 saw an annual increase of 118.5% in the number of Golden Visa applications, followed by a further +94.8% increase in 2023.
Who is driving demand for Greek Golden Visas?
The high demand for Greek Golden Visas over the past two years in particular is being driven by wealthy US citizens looking to spread their risks and opportunities beyond the borders of North America, with demand being particularly influenced by the increased investment thresholds implemented in 2024.
Astons estimates that Greece is the focus of at least 50% of all Golden Visa applications by US citizens, with investors drawn to the country by the lifestyle offering, not to mention the attractive minimum investment contribution – for which investors get five years of residency for the whole family with a right to renew at the end of that term.
Furthermore, Greece currently has one of Europe’s most lucrative property markets and best performing economies.
Citizenship, residence permit, and real estate investment expert for Astons, Alena Lesina, commented:
“Looking ahead to 2025, we believe that demand for Greek golden visas will remain robust despite the recent changes made. This is because it is still possible to purchase real estate and obtain a residency permit for as little as €250,000, even in the very heart of Athens, provided that the property in question is converted from commercial use to residential. As such, we’re seeing a lot of developers now buying old hotels and office buildings and transforming them into modern residential complexes, complete with stunning swimming pools and terraces.
Another reason to expect further growth in demand for Greek visas in 2025 is the fact that Spain is about to close its own Golden Visa programme which was itself hugely popular. With Spain no longer available to expats, it’s reasonable to expect that Greece, with its similar lifestyle offering and even more affordable accessibility, will become the focus of their attention.”
By Adedapo Adesanya
The Federal Airports Authority of Nigeria (FAAN) has announced plans to introduce V-Pass, a biometric facial recognition system designed to make passenger processing faster, safer and more seamless across its domestic airports.
According to FAAN, the new technology will allow passengers to verify their identities through facial recognition after a one-time enrolment, reducing reliance on physical identification documents and shortening queues through automated electronic gates.
The authority said the system is expected to enhance airport security while improving the overall travel experience for domestic passengers.
FAAN added that V-Pass has been developed with data privacy at its core and is compliant with the Nigeria Data Protection Regulation (NDPR).
The agency described the initiative as part of its commitment to delivering smarter, technology-driven airport services and said nationwide sensitisation and rollout updates would be announced in due course.
Airports in countries including the United States, the United Kingdom, Singapore and the United Arab Emirates already deploy facial recognition technology for processes such as check-in, security screening, immigration and boarding, so the move also aligns Nigeria’s aviation sector with a growing global trend towards contactless travel.
These systems have been adopted to improve operational efficiency, strengthen security and enhance the overall passenger experience.
For FAAN, the deployment of V-Pass forms part of its broader digital transformation agenda aimed at modernising airport operations and accommodating rising passenger traffic.
Experts say that beyond improving convenience, the authority expects the biometric platform to strengthen identity verification, reduce the risk of impersonation and support more efficient airport security, while maintaining compliance with data protection.
By Aduragbemi Omiyale
About 14.12 per cent stake in Ikeja Hotel Plc has been acquired by Honeywell Group Limited, a notice on the Nigerian Exchange (NGX) Limited has revealed.
Honeywell Group took up the part of the hospitality firm through one of its affiliates known as HGL Real Estate Limited.
Ikeja Hotel, in the disclosure filed with the NGX on July 2, 2026, said the stake comprised 305,323,525 units of its equities.
“Ikeja Hotel hereby notifies the Nigerian Exchange Limited and the general public that it has received notification from HGL Real Estate Limited, an affiliate of Honeywell Group Limited, that it has acquired 305,323,525 units of Ikeja Hotel Plc’s shares, representing 14.12 per cent shareholding in the company,” the notice stated.
Ikeja Hotel is one of Nigeria’s leading hospitality investment and hotel management companies with premium hospitality assets.
It operates two leading hospitality organisations in Lagos, the Sheraton Lagos Hotel and Balmoral Convention Centre.
By Aduragbemi Omiyale
About 10 hospitality establishments, including hotels and restaurants, were sealed on Wednesday by officials of the Lagos State Environmental Protection Agency (LASEPA).
The affected businesses are located in different locations in the Alimosho Local Government Area of the metropolis, Business Post learned from a statement from the agency.
It was stated that they were sealed by LASEPA for persistent violations of environmental regulations despite repeated warnings, abatement notices, and several opportunities to comply with the agency’s directives.
According to the notice, the enforcement exercise was carried out in line with the directives of the Lagos State government to ensure strict compliance with environmental laws and to safeguard public health.
The affected facilities were said to have breached various environmental regulations, including noise pollution, air pollution, unlawful discharge of untreated effluent, obstruction of official duties, among others.
LASEPA closed the premises of Granduer Meridian at Obasa Akiniyi Street, Oluwaga, Ipaja for non-compliance with the agency’s directives; Lasola (Spazio Bar), located on Ipaja Road, Fatolu Bus Stop, Ipaja, was sealed for noise pollution and non-compliance with directives; Millennium Restaurant, located at Gate Bus Stop, Ipaja, Ayobo, was shut down for non-compliance with directives; O2 Exquisite Suites & Tower on Jimoh Akinremi Street, Jimoh Bus Stop, Akowonjo, was sealed for non-compliance with directives; and Chirozz Hotel & Suites, located on Samuel Street, Akowonjo, by Vulcanizer Bus Stop, Egbeda, was closed for noise pollution and non-compliance with directives.
In addition, House 7 Hotel, located at Remi Akande Street, Egbeda, was sealed for non-compliance with LASEPA’s directives; House 48 on Isiba Oluwo Street, Egbeda, was sealed for non-compliance with directives; Exclusive Hotel, located at Ishan Kimishe, Akesan Bus Stop, was shut down by non-compliance with directives; Sabola Ventures Limited, Iocated at Km 11, LASU–Isheri Road, Igando, was shut down for operating without evidence of an Effluent Treatment Plant (ETP), and discharging untreated effluent into public drains; and City Int’l Motel, located at Chief Olu-Adegbite Street, off Oladun Street, Council Bus Stop, Idimu, was sealed for non-compliance with directives.
