Egyptian tycoon Nagib Sauer announced his intention to implement a large investment project in Ayia Napa, Cyprus, worth 235 million dollars.
The Egyptian economic press reports extensively on the subject, with reports documenting this very launch of the international promotional "roadshow" of the Egyptian tycoon Naguib Sawiris, which started in the capital of the United Arab Emirates, in order to attract large investors project in the tourism real estate sector.
As the Office of Economic and Commercial Affairs of the Greek Embassy in Cairo points out, "this investment plan includes the construction of luxury apartments and houses, shopping malls, marina, as well as the configuration of private beaches in the internationally renowned seaside resort of Cyprus."
Speaking at a special event last week at the world-famous Borg El Arab Hotel in Dubai, the 7th largest African billionaire invited the also financially strong Emirati people to invest in this new project, which will be aimed at to take advantage of the coastal beauties of the island, "equal or even better than the United Arab Emirates" as Mr. Saueris described them, emphasizing that all the constructions that will be made will be luxurious, the value of which will start from 500.000 euros and will reach up to 5,2 million euros!
The investment plan is expected to be completed by 2021, writes the Egyptian press.
(source RES - EIA)