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REAL ESTATE

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The Green Light Was Given for the Construction of Limni Bay

The Green Light Was Given for the Construction of Limni Bay

Cyprus Limni Resorts and GolfCources Plc announce that the license for the construction of Limni Bay at Polis Chrysochous was given, after many years of efforts and a multitude of specialized studies, fully satisfying the national environmental legislation and all the recommendations of the European Commission in order to guarantee the integrity of the turtle habitats.

The Limni Bay Resort project includes two 18-hole Signatyure Golf Courses, a club for each stadium, a high standard hotel, villas and self-contained villas, leisure facilities, a historic Lake Museum and an extensive network of footpaths and biking trails with wide landscaping. In addition, the project will be extremely high quality, will include many other environmental elements and will be fully in harmony with the natural environment of the area.

In order to achieve the above objectives, the company hired the internationally recognized company EDSA for the masterplan and landscaping, and the world-renowned architects Foster + Architects for the golf clubs and other buildings. The design of two golf courses is by Jack Nicklaus and Gary Player, who are considered among the best in the world to design golf courses.

The company said it has already spent tens of millions of euros to restore the natural environment in the area. And claim to have removed 12 million cubic meters of mining waste left behind by the previous owners.

The Paphos project is expected to be completed within 3-5 years after construction begins.

The grand project was estimated to have cost €1.5 bln with plans including a small airport when announced by the company’s CEO Nicos Shacolas back in 2013.

However, streamlined plans today do not include an airport, and the investment is believed to be roughly €800 mln.

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