Egyptian billionaire Naguib Sawiris, the man behind the grandiose project of Ayia Napa Marina, leaves the window open for new investments in Cyprus.
In an exclusive interview with the new issue of Gold magazine, the Egyptian tycoon says he is pleased with the progress being made in the construction of the emblematic project, while expressing the hope to make further investments in Cyprus.
The project has already gained worldwide recognition, which, according to Naguib Sawiris, is evidenced by the fact that it enjoys increased interest from buyers worldwide and especially from the markets of Russia, the Middle East and Asia, while 78% of east tower of the marina of Ayia Napa has already been sold.
Satisfied with the Cypriot experience
Regarding his experience in Cyprus as an investor, he describes it as very positive, praising the government and the authorities for their hospitality and assistance, in order to overcome the obstacles faced by all foreign investors. The strength of the Cypriot economy and the support that exists have made Cyprus one of the easiest places for business, he explained.
Mr. Sawiris also spoke about working with his local partner, which he said was crucial to keeping the project on track.
Regarding the Cyprus Investment Program, the Egyptian billionaire said that it is a great incentive for foreigners to invest in real estate.
Millions of boat owners
"We can see that there is a gap in the luxury tourism market and our goal is to attract boat owners that cost up to $ 50 million," Naguib Sawiris told Gold.
Ayia Napa Marina will be the leading mixed-use development on the island, with luxury homes and a commercial marina with a berth for 600 boats up to 60 meters long, he added.
Who is Naguib Sawiris?
The Egyptian investor of the Ayia Napa Marina is on the Forbes list of the 20 richest people in Africa and in particular is in 7th place, since the value of his assets reaches € 2,9 billion. Naguib Sawiris is a descendant of Egypt's richest family, while his brother Nassef is fourth on the list of African billionaires, with a fortune of $ 6,3 billion. Most of his fortune came from the telecommunications sector, when in 2011 he sold the telecommunications company VimpelCom (now Veon) to a Russian company.
He is president of Orascom Telecom Media & Technology while the family-run La Mancha has shares in Evolution Mining, Endeavor Mining and Golden Star Resources, which operates gold mines in Africa and Australia.
* The report is published in the June issue of Gold magazine.