More good news for Cyprus Golf

EXCLUSIVE: NEW GOLF PROJECT FOR CYPRUSCyprus, golf A consortium of Cypriot developers called the Med Group is expecting to receive the green light for a €300million golf resort project within the next few months, after carrying out over 18 months worth of environmental studies before proceeding.
Due to be built in the town of Tersefanou, the Larnaca Golf and Country Club (working title), will comprise of an 18-hole golf course, over 500 residences, breaking down to 285 two to four bedroom villas, 211 one, two and three bedroom apartments and 40 ‘hotel-style’ rooms in the complex.
Alongside this will be a clubhouse, a village square and purpose built function rooms and spa facilities. Health treatment will also be available on site with minor cosmetic surgery being performed in the resort’s medical centre.The Med Group has also signed an exclusive contract with the Professional Golfers Association (PGA) which will manage the golfing facilities and develop a PGA academy on site. The agreement with the PGA is exclusive to the Med Group and is the only one allowed on Cyprus.
By signing the agreement, the golf course will be able to host Ryder Cup games in the future and is expected to be a major selling point for the resort. The Med Group has also retained the services of Morpheus Investments as the master sales agent for the project.
The firm’s director, Derek Hatton, said that his company is looking to internationalise its sales process and will seek a limited number of “quality sub-agent partners” for the project in Europe, Dubai and South Africa.
Environmental concerns Currently Cyprus has three golf courses, but only one other golfing resort, Aphrodite Hills in Paphos. George Hassapis, CEO of Hassapis Land Developers and a major shareholder in the Med Group, said that the environmental studies carried out on the project would help it stand out from others in Cyprus and Europe.“Water is a massive concern for us here in Cyprus so we took proactive steps to make sure that the entire resort would fit in with the area and be sustainable, before being asked to do this by the Environmental Agency (EA),” he explained. “The construction of a desalination plant was part of the requirement to build the resort and we will also have the capacity to sell water to the government to supply the local community should it be needed.
We also had to tell the EA what we would do with the excess salt from the project and spent a lot of money to make sure that the water pipeline didn’t affect the local wildlife. This is very important for our sales partners as environmental concerns in Cyprus and around the world are growing. B spending so much time and money on this, we believe it will aid the sales process. Now we have EA approval, we are waiting on the government to decide the appropriate level of taxes to be levied on the project, then we can proceed.”According to Cypriot law, completion on the project must be within 24 months of receiving permission to build. The Med Group will deliver the first residential phase within two years and release a further two phases on a yearly basis after this.

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