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By Travelmail Reporter

PUBLISHED: 05:30 EST, 5 March 2013 | UPDATED: 05:30 EST, 5 March 2013

The Emir of Qatar has snapped up six Greek islands for the bargain price of just £7.35 million.

One of the world's richest men, Hamad bin Khalifa Al Thani, fell in love with the islands in the Ionian Sea four years ago and after 18 months of wrangling has convinced the eurozone's poorest country to sell the idyllic isles as a job lot.

The privately-owned islands, known as the Echinades, had been put up for sale as crisis-hit nationals struggled with the high real estate taxes imposed on them by the state.

Set sail for a sale: The Emir first spotted the islands when he moored his super yacht off the coast of Ithaca four years ago

The islands are just one opportunity to own a slice of Greek paradise. The government has also put swathes of land on Corfu and Rhodes up for a sale in a bid to tackle its debts and encourage private companies to develop tourist resorts.

However, holidaymakers looking for the chance to rub shoulders with the rich and famous on the Echinades will be disappointed.

The Emir, who first discovered the islands when he moored his super yacht off the coast of Ithaca, has no plans to develop tourism and is instead reportedly looking to build a series of palaces for his three wives and 24 children.

Despite losing out on future tourism revenue, locals are said to be pleased with the purchase as it comes with a promise from the Emir's people to build a pipeline and provide affordable water to the island of Ithaca.

The Emir and his family are expected to moor their yachts off the Ithaca coast again this summer and the island's mayor Ioannis Kassianos said he hopes the rich guests will venture on land to visit the local restaurants.

There are 18 islands that make up the Echinades which are famed for their pristine beaches, pine forests and olive orchards. Locals believe the Emir is eventually hoping to buy all 18.

Greece is hoping the Emir's interest in its islands will convert into financial help for the bankrupt state.

Three years ago he pledged to invest €5 billion in the country's real estate and tourism markets, propping up airports and harbours. However, due to bureaucracy in Greece, he pulled out of the project.

However, after a recent visit by Greek prime minister Antonis Samaras to Doha, Qatar has shown interest in developing the former international airport Elliniko, near Athens, and even purchasing hotels.