2022-2023 Cyprus Country Report
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CYPRUSCOUNTRY REPORT <strong>2022</strong><br />
Artist Impression: City of Dreams Mediterranean<br />
Artist Impression: Grand Hyatt Limassol<br />
Artist Impression: Ritz-Carlton Residences<br />
IMajor investments have also<br />
of land for development surrounding the<br />
new integrated casino resort in Limassol.<br />
been made in the hospitality<br />
The destination and value of the area are<br />
set to be elevated by this key real estate<br />
industry with acquisitions<br />
investment.<br />
and the construction of new<br />
Proposals include the development<br />
of exclusive seven-star facilities<br />
luxury hotels by renowned<br />
providing bespoke services for owners<br />
hotel management chains<br />
and investors. Plans are also in place<br />
for additional investment by the former<br />
majority shareholder of telecoms start-up Viber into the further expansion of the area<br />
in the future – which is a solid vote of confidence in the vast growth potential of <strong>Cyprus</strong>.<br />
Following the success of Limassol Marina, more investment has flowed into marina<br />
developments on the Cypriot coast. The €300 million luxury Ayia Napa Marina is under<br />
construction with berthing facilities and a commercial village now fully operational.<br />
The marina offers capacity for 600 yachts of up to 60 metres, a shipyard, and a range of<br />
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