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benetton2
Amicus
Posts: 943
(8/21/07 10:06 am)


 Russian billionaire invests in northern Cyprus
Tuesday, August 21, 2007
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SEVGİ SAYAR BAŞARAN
KYRENIA - Referans


Roman Abramovich, one of the world's richest businessmen, has added northern Cyprus to his investment portfolio. Abramovich is about to finish his $30 million real estate investment in the Arapköy region. The investment, named “Chelsey Village,” imitating the name of the British football team Abramovich owns, aims to attract Russian property investors to northern Cyprus.

Abramovich, who last week vacationed in Turkey's Bodrum, Marmaris and Istanbul aboard his luxurious yacht, Le Grand Blue, reportedly became interested in northern Cyprus three years ago. The Russian billionaire bought a piece of land in the Arapköy region, a popular area for villa construction, for $5 million through intermediaries from a Turkish Cypriot company. The “Chelsey Village” project was launched last year. As the project is near to complete, villas are being sold mainly to wealthy Russians, most of whom buy the property before the finishing touches have been made.



Potential for tourism:

Abramovich, who most recently visited nothern Cyprus two weeks ago, has seen the tourism potential of the nothern part of the island. A businessman, who observes the Russian billionaire's investments, said on the condition of anonymity that Abramovich had explored the possibility of building a 38-storey hotel in Kyrenia (Girne), but gave up on the plan.

The Russian billionaire also plans to invest extensively in Turkey. His first yacht visit to the country took place in 2005. Abramovich started investing in Turkey by acquiring Istanbul Safisa Hotel in Antalya's Kundu region. The luxurious hotel, which targets Russian clientele in Antalya, is expected to open this year. According to the building plan, the hotel will have 572 rooms and capacity for 1,258 beds. Turkish press reports have indicated that Abramovich has also purchased Keyland Hotel in Marmaris. But the hotel is practically a frozen investment, because its construction has been halted for the past 15 years.

Abramovich, who had bought the London mansion of Turkish businessman Halis Toprak for $93 million, is reportedly also interested in the 21-acre land of Toprak in Kuşadası, another popular Turkish resort. Allegedly, Abramovich is ready to pay $350 million for the piece of land.

The billionaire is also claimed to be interested in acquiring a mansion for himself on the Bosporus.

In northern Cyprus, the news of Abramovich' plans got a mixed response. Mehmet Atakan of CMG property development in Kyrenia said the plan to build and sell villas for Russian property investors could have negative implications for the local economy. "In investments where a foreigner constructs property and sells it to another foreigner, keeping the profit himself, the impact on local economy can hardly be positive," he said.

Hüseyin Aka, branch manager at Century 21 Mediterra in Kyrenia, on the other hand pointed out that the investment may also increase the understanding of the situation of northern Cyprus abroad. "Any investment in northern Cyprus is good. I believe that this project will keep the local economy going, espeically if the project employs local labour force and tradesmen to sell the villas. I believe that it will also increase understanding of the situation of nothern Cyprus," he said.

Reeta Çevik of the Turkish Daily News contributed to this report.

www.turkishdailynews.com....wsid=81427

Ahristos rapping:

Quote:
a turkish majmun is raping!for nothing!
i hate rap is negros slums music
tam -tam aman aman
i protest for turks occupation
i wond to be free let me free!
tam -tam cyprus free! from Attilas
this is my rap song now
TiLeiOhMaleas
Moderator
Posts: 2358
(8/21/07 4:25 pm)


 Re: Russian billionaire invests in northern Cyprus
Yep this is good news.

Seeing as the locals dont bother improving the north side of Cyprus and just watch it stagnate, leave it to foreigners to help out.

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