articles | 06 February 2017

Ayia Napa marina residences to cost up to €5 million

Naguib Sawiris, the Egyptian billionaire businessman behind the Ayia Napa marina development has begun the active promotion of the project, seeking buyers for the real estate in the marina.

From the details presented, it appears that the cost of acquiring a residence at the marina will begin at €500,000, peaking with a whopping €5,200,000.

The promotion of the development, whose estimated cost is €220 million, began with presentations to investors in the United Arab Emirates at the iconic Burj al Arab hotel in Dubai, focusing on the luxury of the real estate at the Ayia Napa marina as the main selling point.

Sawiris was present himself at thesepresentations in the UAE, with his Cypriot business partner Stavros Karamontanis by his side.

Another of the selling points of the marina in the presentations was that the development would resemble those of Dubai, but would benefit from being along the coast of the Eastern Mediterranean.

Particular mention was also made of the two towers which will be 25 storeys high, hosting 190 apartments.  In addition, there will be 29 luxury residences, a network of luxury retail stores, and a marina which will be fully equipped to meet the demands of the residents.

According to Sawiris, the luxury will be equivalent to that found in similar projects in Dubai, with the benefit of the beautiful beaches in Ayia Napa. Also stressed is the fact that like Dubai, there is fertile ground for conducting business and investments in Cyprus.

Source: InCyprus

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