Greek-owned real estate developer Intrakat has teamed up with UK investment firm London and Regional Properties (LRP) with the plan to build an 80 million euro resort on Greece’s most popular party island, Mykonos.

The five star resort will consist of two hotels and luxury villas in the area of Kalo Livadi officials from the Greek company told on Wednesday.

LRP s is a private investment company with an international portfolio that exceeds 9 billion pounds.

It is not the first time the UK company has shown an interest in Greek property as it was one of the initial bidders for the Elliniko urban development project, before pulling out of the tender.

Meanwhile, NLP recently purchased a hospitality asset in Rhodes, another touristy Greek island.