Orascom Telcom Media and Tech Hold SAE : chairman launches development in Cyprus
Egyptian businessman and chairman of
The residential, retail, and commercial development,
In a press conference on Sunday, Sawiris and his partner, Cypriot entrepreneur Stavros Caramondanis, said that the development is a “high-end ultra-luxurious” project that will cater to the “modern needs” of investors and individuals who wish to have a second home on the Mediterranean island.
The prices ranges from
Eleven of the 29 villas will be beachfront and the rest will be overlooking the marina, giving residents direct access to their yachts.
Caramondais also stated that the construction work on the development is ongoing. “We broke ground in
He also said, “We have appointed
“We are currently tendering the second package, which will run simultaneously, for the residential development – the villas and the two towers – and the commercial shops.”
The East tower will comprise of 26 floors and the West tower, 25 floors. Both the towers are designed by US-based architecture, engineering and planning firm,
The towers will offer apartments from one-to-four-bedrooms and the villas will range from three-to-five-bedrooms.
Of the 190 apartments and 29 villas, Caramondais said that so far 20 apartments and two villas have been sold. The developers are looking to attract investors from all over the world.
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