Two residential towers housing luxury apartments, along with a vast marina and individual villas are to be developed in Ayia Napa, thanks to a joint Egyptian-Cypriot venture. This move could be just what the resort needs to regenerate its image as a tourist destination and also a potential investment opportunity that merits further investigation.
Ayia Napa's Mayor, Yiannis Karousos, also hints at other investor interest and a show of confidence from the government, signalling the emergence of this area as prime investment turf.
A potential second home or holiday Let? Let's hope that more detail is forthcoming about the property to be made available. Shored up by Cyprus's re-emergence as a tourist hot-spot, this new-build development could make an attractive option for the British buyer seeking property in Cyprus.
Contact Winkworth International for more information about investment opportunities in Cyprus's tourist resorts.
THE CONSTRUCTION of luxury residential twin towers which will be part of the new Ayia Napa marina will start in late September, Mayor Yiannis Karousos announced on Tuesday. “It is expected that Egyptian tycoon Naguib Sawiri and his partners in Cyprus, namely the Caramondani group, will sign the contracts with the company building the marina in the next few days,” Karousos said. “The twin towers will consist of luxury apartments and suites and are part of the Ayia Napa marina infrastructure.”