17.10.2022
Huge tracts of land have been bought in recent months in one of the wine-producing villages of the Limassol region, namely Agios Ambrosios, worth tens of millions of euros. In particular, these are dozens of different plots of land, most of which are fields, as well as some vineyards.
Most of the blocks under consideration, the total area of which is about 1800 steps, was acquired by a foreign businessman through an auction of the Ministry of Internal Affairs. However, the specific plans of the foreign businessman for their use remain unknown. This land was intended several years ago for the construction of the grandiose project “St Elisabeth Golf Resort Ltd”, which eventually collapsed as the management company could not find an investor.
The project, worth almost 400 million euros, will include the largest golf course in Cyprus (including those that were licensed at the time) as well as residential properties, namely luxury villas, houses and apartments. In addition, the master plan included the creation of a boutique hotel , spa, restaurant, shops, a golf academy, and tennis courts.
The plans also included the creation of an olive museum, the reconstruction of a local winery and the creation of a space for conferences and seminars.
The project received the necessary permits and attracted the interest of investors, but it was not implemented, because in the end, as mentioned above, not a single deal with the investor took place.
