Naguib Sawiris develops $223 million elite properties in Cyprus

06 Feb 2017
Naguib Sawiris is planning to develop Cyprus’s first ’elite’ area. It is a 5 year plan called The Ayia Napa Marina project.

When choosing your travel destinations, don’t forget to take into consideration small but beautiful Cyprus. Whether you’re on vacation, honeymoon or celebrating your birthday, passion in paradise is what this island does best: expect sea-edge dinners, magnificent historic ruins set in breathtaking locations, tiny streets, ancient palaces, fortresses and tombs. However, when it comes to the beauty of nature, Cyprus is hard to beat, and its amazing meadows of wild flowers, beaches and sparkling blue lagoons have been voted among the most picturesque in the world.
That probably made Naguib Sawiris, an Egyptian billionaire businessman and second richest man in the country, choose Cyprus for his new $235 million project. Focusing on UAE direct investment, Sawiris reported on an impressive luxury real estate development, The Aiya Napa Marina, in a conference that took place in Dubai on January 29. The project will be held in Ayia Napa which is widely famous for its vivid nightlife and a unique old monastery.

According to plan, Aiya Napa will become a Dubai-like hub in Cyprus: high-rise building with 190 spacious apartments and 29 cozy villas which cost you €500,000-€5.2 million. Some villas will have private beach access.

Sawiris mentioned he had opted to invest in Republic of Cyprus «because we believe in this country». He also said he’d like to compete with the largest city in the United Arab Emirates on the beach. Sawirism, though, expects beaches there will be more lively and natural.
The Chairman of Global Telecom Holding, a huge international telecommunications company, also believes that first ‘elite’ area of Cyprus will attracts those who prefer drinking, partying, good music, tranquillity, beauty, boats, snorkeling and surfing. Otherwise «they would not want you», according to Egyptian billionaire.
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