{"id":42631,"date":"2017-02-02T21:41:47","date_gmt":"2017-02-02T14:41:47","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=42631"},"modified":"2017-02-02T18:50:19","modified_gmt":"2017-02-02T11:50:19","slug":"get-in-early-on-this-dh871m-resort-in-cyprus","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/get-in-early-on-this-dh871m-resort-in-cyprus\/","title":{"rendered":"Get in early on this Dh871m resort in Cyprus"},"content":{"rendered":"


\nThe Egyptian billionaire Naguib Sawiris was in Dubai last week in a bid to persuade wealthy Arabs to buy property in the Cypriot nightclubbing hot spot Ayia Napa.The 62-year-old businessman, who is part of the powerful Orascom-owning family and heads its telecoms operations, is partnering with Cypriot real estate firm, the Caramondanis Group of Companies, to build a \u20ac220 million (Dh871m) resort on the Mediterranean island Ayia Napa Marina.With EU member Cyprus about an hour’s flight from Lebanon and Cairo and around four hours’ flight from Dubai, the partnership hopes to persuade wealthy investors from Arabian Gulf countries and the Levant region to buy off-plan flats and villas in the upmarket marina project in the town of Ayia Napa. The area is known for its nightclubs and package holidays, popular with party\u00adgoers. The project will build two 25 and 26-floor twisting modern towers containing 190 apartments, 29 villas and a 600-berth marina in the town, offering the type of upmarket accommodation which is currently lacking.With prices starting at \u20ac500,000 for a one-bedroom flat and rising up to \u20ac5.2m for a four-bedroom villa, properties at the new marina will not come cheap.”I saw what happened in [the Greek island of] Mykonos. Year after year when I was going, I was seeing Mykonos getting upgraded. It started with this beach restaurant called Nammos, which changed the offering. You go there you get the best of food, best of service and best of ambience. Now in the summer if you go there you need to know the Egyptian guy who is a partner there to get a table,” Mr Sawiris says. “What we bet is that Ayia Napa can do the same.”Construction started in September 2016 and the development is not due to complete until 2021, meaning there is little to see at the moment. But the partners promise that residents will be able to enjoy all the mod cons including two private beaches, fitness facilities, a concierge and full facility management.Q&A: Lucy Barnard reveals more about the Ayia Napa Marina project in Cyprus:When will the project actually be finished?According to Ayia Napa Marina, the marina itself will be completed by 2019. Half of the apartments will be completed in 2020 and the other half in 2021.What other reasons would attract an investor to this development?The partners says that real draw for many of the wealthiest investors will not be the property at all but rather the fact that owning a property in Cyprus can offer access to Cypriot citizenship and the right to live and work within the European Union.So how does that work exactly?According to Ayia Napa Marina, the government of Cyprus will grant Cypriot citizenship to those who invest a minimum of \u20ac2 million (Dh7.9m) in the country. This enables property owners and their immediate family members who fulfil certain requirements the right to live, work and travel anywhere in the EU.What if I can’t afford \u20ac2m?The Marina owners say that for Non-Cypriots who purchase a property of a minimum value of \u20ac300,000 will be granted a Cypriot Permanent Residence Permit for themselves, their spouses and children.What would I actually be buying?Properties at Ayia Napa Marina are being sold through a 50-year sublease until 2067 and a long-term lease agreement that runs until 2139.lbarnard@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…Get in early on this Dh871m resort in Cyprus<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Egyptian billionaire Naguib Sawiris was in Dubai last week in a bid to persuade...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-42631","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-b5B","jetpack-related-posts":[{"id":42633,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/live-the-nightlife-on-the-water-in-a-220-cypriot-resort-in-pictures\/","url_meta":{"origin":42631,"position":0},"title":"Live the nightlife on the water in a €220 Cypriot resort – in pictures","date":"February 2, 2017","format":false,"excerpt":"\r The Egyptian billionaire Naguib Sawiris was in Dubai last week in a bid to persuade wealthy Arabs to buy property in the Cypriot nightclubbing hot spot Ayia Napa - a \u20ac220 million (Dh871m) resort on the Mediterranean island.business@thenational.aeFollow The National's Business section on Twitter\r \r Source : thenational.ae\r Read\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":42645,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/live-the-nightlife-on-the-water-in-a-220m-cypriot-resort-in-pictures\/","url_meta":{"origin":42631,"position":1},"title":"Live the nightlife on the water in a €220m Cypriot resort – in pictures","date":"February 2, 2017","format":false,"excerpt":"\r The Egyptian billionaire Naguib Sawiris was in Dubai last week in a bid to persuade wealthy Arabs to buy property in the Cypriot nightclubbing hot spot Ayia Napa - a \u20ac220 million (Dh871m) resort on the Mediterranean island.business@thenational.aeFollow The National's Business section on Twitter\r \r Source : thenational.ae\r Read\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":139547,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ayia-napa-marina-discover-your-dream-home-on-the-shores-of-the-mediterranean-sea\/","url_meta":{"origin":42631,"position":2},"title":"Ayia Napa Marina: Discover your dream home on the shores of the Mediterranean Sea","date":"October 3, 2023","format":false,"excerpt":"\r This iconic development offers luxurious residences ready to capture your dreams and ignite your sense of adventure\r \r Source : arabianbusiness.com\r Read more...Ayia Napa Marina: Discover your dream home on the shores of the Mediterranean Sea","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2023\/10\/Ayia-Napa-Marina-1-1000x667-1.jpg?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":23597,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cyprus-offers-thai-property-investors-eu-citizenship\/","url_meta":{"origin":42631,"position":3},"title":"Cyprus offers Thai property investors EU citizenship","date":"August 22, 2016","format":false,"excerpt":"\r Lifetime EU membership can be had by those with a liquid USD3 million Cyprus offers good quality of life. Image credit: Anilah\/Shutterstock Thai property investors are among those being \u201cwooed\u201d by Cyprus, offering them lifelong European Union citizenship for investments of over Bt100 million (USD2.9 million). This is one\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":139514,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/korantina-homes-sculpting-the-horizon-of-real-estate-development-in-cyprus\/","url_meta":{"origin":42631,"position":4},"title":"Korantina Homes: Sculpting the horizon of real estate development in Cyprus","date":"October 3, 2023","format":false,"excerpt":"\r Korantina Homes, in recent years, has clinched a plethora of international accolades, thereby elevating the benchmarks of Cyprus real estate through its seminal projects such as Cap St Georges Hotel & Resort, Coral Residences, and Soho Resort\r \r Source : arabianbusiness.com\r Read more...Korantina Homes: Sculpting the horizon of real\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2023\/10\/Korantina-Homes-1-1000x667-1.jpg?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":136374,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/actor-turned-international-real-estate-mogul-taleb-adla-bridges-dubai-and-american-markets\/","url_meta":{"origin":42631,"position":5},"title":"Actor Turned International Real Estate Mogul Taleb Adla, Bridges Dubai and American Markets","date":"April 28, 2023","format":false,"excerpt":"\r Today Tal works with celebrity and high profile clients who are looking to buy property in Dubai, as well as some of the most wealthy residents of Dubai who are looking to buy premier properties in America\r \r Source : arabianbusiness.com\r Read more...Actor Turned International Real Estate Mogul Taleb\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2023\/04\/Taleb-Adla-1000x667-1.jpg?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/42631"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=42631"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/42631\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=42631"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=42631"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=42631"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}