The EUR220 million mixed-use residential and commercial development on the southern shores of the island is scheduled to be completed in 2021 and will boast 190 deluxe apartments in two twisting towers, 29 luxury villas, a 300-berth full-service marina and boatyard as well as a selection of retail, waterfront dining and premium lifestyle amenities in the so-called Pyare Village commercial centre.

The project is the result of a partnership between Cypriot entrepreneur Gerasimos Caramondanis and Egyptian investor Naguib Sawiris, and is designed by SmithGroupJJR, a US-based architecture, engineering and planning firm internationally recognised as experts in waterfront design.

According to Sawiris, the destination will herald a new era in modern beachfront living.

“We will exceed the expectations of our residents and our guests and not only transform the Cyprus skyline but change the way you think about Cyprus,” added Sawiris.

Speaking about the island’s credentials, Stavros Caramondanis, CEO, Ayia Napa Marina, said, “Cyprus is a safe haven blessed with beautiful nature, year-round sunshine, modern infrastructure, a high standard of living and a genuine culture of warmth and hospitality, strategically located in the eastern Mediterranean at the crossroads of three continents – Europe, Asia and Africa.”

As he further pinpointed, Cyprus’ tax system is one of the most attractive on the continent, making it an appealing destination.

“The modern, competitive and simple business environment coupled with the high quality of life make Cyprus an ideal place for both visitors and investors,” concluded Caramondanis.