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The last Greek King Constantine is preparing to build a new summer palace near Gialeza just above the cosmopolitan resort of Porto Cheli. According to the information in the Greek newspaper Ethnos, the former Greek royal family is preparing to build a complex of houses and to make its dream to settle in the area come true.

However, the interesting thing is that two offshore companies are dealing with the purchase of agricultural land of total area 207 acres. They are on the famous list of "200 offshore companies from Kranidi," which the service fighting economic crimes has fully investigated. As a result, the small coastal town has been called "the Greek Liechtenstein."

One of the companies that has purchased a total of 17 agricultural areas is Vestricia Properties Limited, which is based in the capital of Liberia, Monrovia. The company started its activities in Kranidi in November 2007, and its Greek offices are located in the luxury Kolonaki district of Athens. The name of the other offshore company is Aspiring Services Limited, based in Nicosia. It started to operate three years later. According to the publication, the company has stated a very interesting address on 0, Sesigliati Street.

A third company is connected with this property and it is Gializa Ltd. - Real Estate Company and Trade. Its central office is located at Akti Miiaouli in Piraeus and a known Athenian lawyer represents it. Vestricia Properties Limited bought the fields from their owners during the period from December 2007 to September 2008, as shown by the records at the Land Registry in Kranidi. In July this year, the offshore company transferred six of the fields and building permits to Aspiring Services Limited. In December 2010, the company sold the other property to Gializa Ltd. Indicative of the connection between the companies is the fact that the representative of Aspiring Services Limited and Gializa Ltd. in a number of deals is the same person - a lawyer from Nauplion.

In recent months, the former royal family has visited the region more often, states the Greek newspaper. Sometimes they arrive with a convoy of 5-6 luxury jeeps and other times, Constantine and his wife Anna - Maria go to the mansion by an old military jeep.

Residents of the region claim that company representatives have started to look for specialists and teams to make wells, irrigation systems, etc. The next stage will turn the space into a park similar to the former royal estate in Tatoi in Athens with a zoo, small groves, flower gardens and large lawns.

Indicative of the impressive plans of the former King is what is being said among the high life in Porto Cheli. They claim that Constantine has expressed his desire for "every friend who visits the estate to plant a tree." Local media is increasingly dealing with the news that the last Greek King intends to settle on the hill overlooking Porto Cheli, but at least at present, the fenced area is hiding a great mystery.

It is evident in none of the documents that Constantine has bought the area. Property prices in this region vary between € 30-40 thousand per hectare. The contracts themselves show that the total value of the estate is almost € 8 million.

The local government in urban planning has issued permits for the construction of five residential buildings in the area of Sesigliati (or Gialeza), which are rumoured to be equipped with all extras, and a guest house, two detached houses and smaller buildings, warehouses, garages, rooms for staff and others.

It is not yet clear which members of the Greek royal family are associated with the companies that have purchased the property and how. It is also unknown whether rich ship owners, close friends of Constantine, are taking part in the creation of the vast estate.

Within the development of tourism and the increasingly rising interest in buying land in the area, residents are not critical of the plans of the former King. The former royal family members have a special preference for Porto Cheli, where they spend most of their summer vacation, and for the opposite island of Spetses. The wedding of Prince Nicholaos and Tatiana Blatnik, which caused tourism boom and satisfaction among local businessmen was held there a year ago. For the stay of his numerous family members, Constantine either rents luxury villas or stays at his wealthy friends. The former King has an apartment in one of these villas, which is decorated with crowns, emblems and other symbols of the past of the monarchy in Greece, even in the form of stripes on bed linen.