Casino in Limassol?
Cyprus has quite a lot to offer. There are plenty of beautiful beaches like the Petra tou Romiou, Nissi beach, Cape Greco and much more to explore and all of these beaches offer crystal clear waters, white sands, and breathtaking horizons to gawk at. You can also check out historic sites, go horse riding, visit a winery, check out various landmarks and sites, enjoy plenty of outdoor activities and plenty of water sports or explore nature and parks.
With these many things to see and do, it is no wonder that this is one of the most popular tourist destinations in the world.
Limassol is an especially popular tourist destination and property prices in this area are escalating with each and every day. It is also a fact that Cyprus’ first casino resort, named “City of Dreams Mediterranean”, is in the making and will be opening its doors in 2021. Meanwhile a temporary casino in Limassol opened its doors on 28th of June pending the completion of the luxury integrated casino resort
Why this casino resort is such big news
The fact that this is the island’s first casino is already pretty big news but this resort is expected to be the talk of the decade. The entire project will cost around €550 million and will consist of plenty of amenities such as luxury accommodations, swimming pools, spas, and much more.
The casino is expected to boost the economy in Limassol tremendously
This casino will without a doubt have a huge effect on the tourist industry but the biggest effect will be noted in the economy. While the construction is ongoing the casino will create about 4,000 jobs and once the casino is operational 4,500 people will be able to work directly and indirectly at this brilliant resort. An increase in tourism will also benefit numerous businesses in and around Limassol and the casino is bound to attract a lot more attention for Cyprus.
Will the casino in Limassol drive property prices even higher?
There is just no way a €550 million resort won’t have an impact on property values in Limassol. Naturally, everyone will want to acquire property close to the resort since this will probably be one of the most popular features in Cyprus and property close to the resort has plenty of possibilities for entrepreneurs looking to start an own company. Guest-houses, restaurants, shopping centres and much more are all going to do tremendously well around the casino resort. Property values all around Limassol is expected to escalate dramatically once the resort is completed because more tourism means more opportunities to make money. The residential investments in Limassol are also expected to rise because, let’s face it, who doesn’t want to live close to a casino resort?
If you also want to cash in on the effects of the casino resort then now is a good time to invest in property. You are bound to make a pretty good profit by simply selling your property after the completion of the resort in 2021 and any business you can construct on property in Limassol is bound to result in good returns on investment. Contact our Law Firm in Limassol and we will give you the best legal advice on property investments in and around Limassol.