One step before the start of construction work is the luxury five-star hotel, which is expected to be built in the area of Agia Thekla in the Municipality of Sotiras, as investors have submitted at the end of August the application for a planning permit.
The hotel that is the largest private investment in the tourism industry in the province of Famagusta is called "Sun City Spa Resort & Residences" and comes from an investment fund from China.
The relevant models of the project, whose cost is estimated at 50 million euros, were published by the construction group Giovani, talking about "a futuristic architectural approach to one of the most impressive projects ever done in the tourism sector of Cyprus".
Until the end of 2016 the planning permission
It is noted that the names of the Chinese group, which will invest in the first elite hotel in the Municipality of Sotira, are written on the models. Jim Chang Global is a privately held company registered in Hong Kong.
In his statements, the mayor Sotiras, Mr. George Takkas, expressed his expectation that the approval of the urban planning permit will be given by the end of 2016. Considering that the construction works start with the new year, the project is expected to be completed within 18 months, ie before the summer of 2018.
Furthermore, due to the importance that the hotel is expected to acquire for the tourism industry of the free area of Famagusta, it is estimated that a quick licensing process will be followed by the government, in order for the project to receive the necessary approvals as soon as possible.
Interest for a new hotel
It is recalled that in a recent announcement the Municipality of Sotiras noted that this hotel will occupy more than 21.000 square meters of development, with 215 rooms, luxury villas and apartments, four restaurants, bars, luxury spa and indoor and outdoor pool.
The complex, according to the Municipality, "will also host international restaurants with well-known names from the world gastronomic map, as the quality catering part is of great interest to the investor."
Besides, according to confirmed information, interest has been shown for a second five-star hotel in Sotira, with the deal expected to be closed by the end of 2016.
It is worth noting that after 30 years for the first time there is interest in private investment of such capacity in the coastal area of Sotira.
Supporting projects
As the mayor Sotiras pointed out, in parallel with the construction of Sun City, additional projects will be carried out in the area, such as sidewalks and bicycle paths, which will frame the project, while at the same time the coastal area is being designed by a special team of researchers.
At the same time, it is estimated that in the elite hotel at least 40-50% of the employees will come from Sotira, while the municipality is expected to receive significant future revenues after the operation of the hotel.
"We are interested in high quality, five-star hotels due to the peculiarity of the area," said Mr. Takkas, explaining that because villas were built in Sotira, it is necessary to build hotels, which will aim to attract quality tourism.
Furthermore, Mayor Sotiras noted that an important role in attracting Cypriots and foreign investors for the construction of hotels in the area is both the upcoming construction of the Ayia Napa marina and the creation of development projects in the municipality. "The priority of the municipality was to invest in the beach, showing in practice to the investors that we are really interested in the coastal front", said Mr. Takkas.
Source: InBusiness