Egypt’s Sawiris unveils EUR 200mn Ayia Napa Marina in Cyprus

Egyptian billionaire and tycoon Naguib Sawiris said on Sunday in a tweet that Ayia Napa Marina project in Cyprus is expected will be inaugurated in the summer of 2019.

In 2017, Sawiris started implementing the EUR 220 million project in partnership with Cypriot entrepreneur Stavros Caramondanis and announced in a press conference at that time in Dubai that the project is set for completion in 2021.

Ayia Napa Marina Cyprus features two residential towers with 190 deluxe apartments, 29 villas, and a yacht marine, as well as retail stress, cafes and restaurants.

The project will allow residents of the UAE to obtain a European visa, while investing abroad for their families and themselves, Sawiris added at the time.

Earlier this month, the Bloomberg Billionaires Index said that Egyptian mogul brothers Nassef and Naguib Sawiris are among the richest 500 people in the world, acquiring the 208 and 344 spots, respectively.

Nassef Sawiris’ net worth amounted to around $7.4 billion, up $1.04 billion, while Naguib Sawiris’ net worth stood at nearly $5.13 billion in the sectors of telecom and media, down $121 million.

Amwal Al Ghad Contribution Time: 10-Sep-2018 11:33 (GMT)
Amwal Al Ghad Last Update Time: 10-Sep-2018 11:33 (GMT)