Property News

Russians interested in Paphos tourist investment

InBusinessNews reports that a Russian investment group is planning a multi-million Euro tourist project in Paphos that includes a marina for small boats, hotel, seaplane landing and take-off facilities and a series of recreational developments.

Apparently the Russian investment group presented their plans to Savvas Vergas, the Mayor of Paphos, almost a month ago. It seems that interest in the project arose after the FIABCI world conference that took place last May in Paphos.

When Mr Vergas was interviewed by InBusinessNews he declined to reveal many details of the proposed project. But he did say that the potential investors wanted to see a willingness by the local authority to assist in obtaining the necessary permissions required to implement the project.
According to the report, Mr Vergas has accepted an invitation to Moscow to attend a screening of the project and will be launching a new restaurant called “Old Paphos” in downtown Moscow later today.