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Construction of enormous luxury apartment complex starts in Cyprus

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Construction of enormous luxury apartment complex starts in Cyprus

Stavros Karamondanis, director general of Ayia Napa Marina, announced the start of building a multi-functional premium class residential compound with a yacht basin, shops, an entertainment zone and restaurants, which will be located on a coastline of Cyprus’ resort city of Ayia Napa.

The company’s representative noted that the compound would be located in the area of 28 hectares and would include two towers with the height of 100 meters each. The buildings will house a total amount of 190 apartments of different capacity - from one to four beds - with panoramic windows and the Middetarian view. Also, the project envisages island villas, a yacht port for 600 boats, shops, restaurants and the proper beach.

“The project is implemented within the framework of a public and private partnership, and it is the largest infrastructure project of Cyprus,” explained Stavros Karamondanis. He added that Naguib Sawiris, an Egyptian billionaire businessman, is a co-investor of the project.

A total amount of investment in the construction will be 220 million euro. The initial price of apartments in the residential compound will be 500,000 euro.

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