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2027 A Pivotal Year for Cyprus’ First Natural Gas Exports, Says Energy Minister

Cyprus is set to reach a major milestone in 2027, as it prepares to transport its first natural gas, Minister of Energy, Commerce, and Industry George Papanastasiou said on Thursday.

Following a meeting with trade union SEK, Papanastasiou highlighted the significance of the upcoming agreement with Egypt, which President Nikos Christodoulides will personally underscore during his visit to the neighboring country.

“The signing of agreements that will commercialize Cyprus’ natural gas is a crucial step forward,” the minister stated. He noted that while discussions have long focused on exploration and reserves, the next and most critical phase—exporting gas to international markets—is now underway.

“These agreements will define how the gas reaches global markets. This process involves Egypt as the host country, the companies that have invested in the deposits, and, of course, the Republic of Cyprus, which is eager to bring its natural gas to the market,” he explained.

SEK Union Secretary General Andreas Matsas emphasized that the deal also holds strategic importance for the European Union in its push for energy independence.

Papanastasiou further stressed that revenues from natural gas and other investments will ultimately flow back into Cyprus’ economy, reinforcing the country’s financial stability and growth.

€50 Million Luxury Resort Planned For Ayia Napa

Ayia Napa could strengthen its position in the premium tourism market with a proposed €50 million mixed-use resort combining a hotel, serviced apartments, luxury bungalows and a beach club.

Aesara Investments Ltd has submitted an information form to the Department of Environment for a development to operate under the name Atlantica Wavemaster Hospitality. The project is planned for the Limnara area of Ayia Napa, along the coast south of Kryou Nerou Avenue, between the town centre and Cape Greco.

Hotel, Apartments And Luxury Bungalows

The proposed resort will include a 324-room hotel with capacity for 648 guests, alongside a condo-hotel building containing 20 one- and two-bedroom apartments. Facilities are planned to include restaurants, bars, cafés, a spa with an indoor pool, a gym, shops, a multipurpose hall, a children’s club and a cinema.

A further 33 three-level luxury bungalows, each designed for two guests and featuring a private swimming pool, are planned for the southern part of the site. A beach club with a restaurant and an outdoor pool complex covering more than 6,300 square metres will also form part of the development.

The project includes 321 parking spaces, including 12 for people with disabilities, and 14,196 square metres of landscaped green space featuring local plant species.

Seasonal Hotel Operations And Year-Round Residences

The hotel is expected to operate from March to November, with peak occupancy during the summer season. The condo-hotel apartments, meanwhile, will be available for sale or long-term rental and intended for year-round residence. Owners and tenants will also have access to the resort’s facilities, including its pools, restaurants and fitness areas.

Construction is expected to take 24 months once the required permits are secured. At the busiest stage, the project could employ around 100 workers per day.

Environmental Restrictions Near Cape Greco

The site’s proximity to protected Natura 2000 areas has prompted strict environmental requirements. The Cape Greco Special Protection Area borders the site to the south, while a Special Area of Conservation lies approximately 50 metres away.

Conditions imposed by the Department of Environment include a maximum building height of five floors, or 18.5 metres, and restrictions on permanent structures near the coastline. The project must also use spider-web type glazing and low-intensity lighting to minimise disturbance to local birdlife.

According to the project’s consultants, the design has been prepared to comply with the environmental conditions and the final report on cumulative impacts for the Cape Greco Special Protection Area. The hotel and apartment building are positioned in the central and northern parts of the plot, away from the shoreline.

Within the designated no-build zone, located 40 metres from the boundary of the beach protection zone, only swimming pools are planned. The consultants state that these are not expected to affect protected species in the area.

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The Future Forbes Realty Global Properties
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