TravTalk Middle East Online Magazine
The latest trend from the Middle East is the offerings by various destinations to promote more UAE and GCC visitors to invest on a second home in different destinations. Stavros Caramondanis, Chief Executive Officer, Ayia Napa Marina, based in Cyprus, speaks to TravTalk.
Shehara Rizly
Q How important is the UAE market to Cyprus in terms of tourism? Any numbers/data that you can share?
Cyprus is a safe haven blessed by 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. It’s just three and a half hours’ flight from the UAE and recent figures show there has been a 45 per cent increase in visitors from the UAE who are taking advantage of the
direct, short-haul flights to this fantastic country.
Q Why should citizens/residents of the UAE purchase beach front properties from Cyprus? What are the advantages?
Waterfront living is a reality in the UAE and for those citizens looking for a second home overseas, Ayia Napa Marina will meet their every expectation. Each luxury residence will feature uninterrupted panoramic views of the Mediterranean paired with
comfortable, spacious living space. Combined with a 600
berth full-service marina and boatyard and a collection of elegant
retail, waterfront dining and premium lifestyle amenities
for residents and visitors, living on the water has never been better. Most importantly, UAE residents can benefit from the existing citizenship and/or residency scheme that Cyprus provides to investors. In essence, they will be eligible for Cyprus passport which consequently opens the door to all EU benefits, as Cyprus
is a full member.
Q In selling these properties what is the benefit the government
of Cyprus gains in terms of tourism?
With its 190 spacious and deluxe apartments in two iconic, twisting towers, 29 luxury villas, a 600 berth fullservice marina and boatyard and a collection of elegant retail, waterfront dining and
premium lifestyle amenities, we expect Ayia Napa Marina to have a very positive impact on tourism to the country. Such an infrastructure project will help to attract higher-end quality tourism and put Cyprus on the map as a destination of nautical
tourism as well.
Q What criteria, eligibility needs to be met to purchase these properties and can they be rent out as vacation destinations?
Is it like time sharing basis or please explain.
There are no restrictions in buying property in Cyprus. Furthermore, as we shall operate the Marina and the whole compound for the next 50 years, we shall also offer facility management services. Obviously, should a purchaser wish for us to handle his/
her property then we can rent it out for them and they will enjoy the yields produced.
Q What will be the future outcome of this venture?
This development will not only exceed the expectations of our residents and our guests and not only transform the Cyprus skyline but change the way you think about Cyprus.
