Somewhere in the crisis, and overseas prosperity and yachting

Cypriot media reported that Egyptian businessman Naguib Sawiris of Orascom Group invests 220 million euros in the construction of a Marina for superyachts in Ayia NAPA.

Despite the rumors that this is a project development company Orascom Development Holding, known for in the yachting industry as a developer and executor of the project of Montenegrin Lustica Bay private villas, apartments and a private Marina, from his involvement in the construction of the Marina in Ayia NAPA, the company refused, however, information about investing in the development of yachting infrastructure of Cyprus and in particular Agia NAPA in the group company Orascom Group confirmed.

Work on the construction of the Marina is expected to start in the middle of this year in the area of Ayia Thekla-Liopetri and according to preliminary data, the new Marina will have about 600 Parking spaces for yachts up to 60 meters.

Cyprus offers extremely attractive conditions for winter storage: the cost of Parking, fuel prices and maintenance. These factors make Cyprus a very popular among the Russian yacht owners.

Investment in the project of the Marina in Ayia NAPA, as well as expanding service offerings to other marinas in Cyprus, including the refit and maintenance of yachts, confirms the demand for these areas and the rapid rate of development. We have where to go and where to spend the winter.

After meeting with Safaricom the President of Cyprus Nikos Anastasiadis wrote in his tweeter: "We are really looking forward to these 220 million euros of investment in Ayia NAPA from Orascom".