The ‘versatile’ Petros Stathis and the businesses in the Balkans, Dubai and Mykonos

of Matinas Harkoftaki

The name of Petros Stathis recently returned to the forefront of the public eye when it became known that Monterock International, which is affiliated with funds from the United Arab Emirates and represented by the Greek businessman, acquired the five-star Kensho Psarou Hotel in Mykonos for 19 million . euro.

Although he prefers to keep a low profile, avoiding interviews and exposure to the mainstream media, this is not the case with his business, which can only be described as humble.

From the time of TEMKE-Parnassos and the transition from the management of AEK to the businesses in the Balkans, United Arab Emirates and the prominent Nammos Dubai, Mr. Stathis has to show important connections with famous names of the domestic and not only business as well as a diverse activity, ranging from banking and tourism to the media and catering.

Diving from a young age into the deep, he was 25 years old when he became an advisor to the then Deputy Minister of Sports Vangelis Meimarakis, while a few years later he was appointed CEO of AEK at a time when the football team was not going through its quietest days.

It was, after all, his tenure about 22 years ago in “Dikefalos” that made his name known to the general public. And after his departure from AEK, the spotlight may have gone out, but not his appetite for searching for investment opportunities, mainly outside Greece.

The investment paradise of the Balkans

And somewhere there comes the “acquaintance” with the Balkans, an area where, according to him, businesses are flourishing. The core of his investments becomes Montenegro, which he considers his second home, while until today it is the starting point for his business activities.

His long-term relationship with the shipowner Victor Resti, who transferred to Mr. Stathis the shares of the investment bank he had founded in 2007 in Montenegro, also contributed to this.

Specifically, Victor Restis was the founder of First Financial Bank, which in 2014 moved its offices and was renamed Universal Capital Bank (UCB), whose owner appears to be Mr. Stathis to this day.

In fact, about a year ago there was a series of articles in the local Montenegrin press, which, citing statements by Mr. Stathis himself, revealed his intentions to sell Universal Capital Bank with the Greek businessman claiming that he had already arrived. in agreement with a serious Italian investor.

The reason that led him to make this decision was that he no longer felt welcome in Montenegro and that he had not been respected for quite some time and that is why he intended to focus his investment interest in Belgrade.

Although it is not clear what mediated and made Mr. Stathis persuade, he did not proceed with the sale and remains the owner of the bank to this day.

However, apart from the UCB, Mr. Stathis is also claiming the title of mediator in the neighboring country as in 2014 he appeared as an investor-savior of Pobjeda, the oldest and former state-run newspaper of Montenegro, which had unbearable debts and was bleeding 2 million. euros per year, paying the price of 750 thousand euros to acquire it.

A year earlier, another newspaper, Dnevne novine, had been formally acquired, followed by two other popular Montenegrin portals, Analitika and Cafe Del Montenegro. And its action does not stop here.

Adriatic Properties, formerly affiliated with Victor Resti’s group and in partnership with Aman Resorts, operates the Sveti Stefan resort, located in the coastal town of Budva under a 2049 lease agreement with the government. of Montenegro while now the owner of Adriatic Properties appears to be Petros Stathis.

At the same time, it is investing in neighboring Croatia where the Aman Cavtat is expected to operate, which marks the third Aman it manages in the Adriatic as already in 2013 it has a presence in Venice with the Aman Venice.

Future plans

Although he has described Montenegro as his adoptive home, he lives with his family in Dubai, where he enjoys significant success with Nammos Dubai, in which he participates, while seeking to develop the Nammos brand in other countries as well.

The branded restaurant, like all the above projects of Mr. Stathis, are part of the portfolio of Monterock International, the investment group which acts as a vehicle for the activities it develops.

There is no clear reference to investors on the Monterock website, however it is said to be linked to Arabic funds while it is not clear whether Mr. Stathis participates as an investor or fund manager from third parties.

The portfolio of the investment scheme includes a number of brilliant projects such as Coya, Nusr-Et and Hotel Mykonos on the island of the Winds, Danae Suites in Santorini, Nobu in Montenegro and Montecastello Tuscany in Italy as well as investments in the real estate market of London.

Upcoming plans include the opening of Nobu in Santorini and Nammos in Doha, London and Cannes, as well as Aman in New York.