THE Larnaca Golf Property Action Group (LGPAG) has been set up by a group of UK property investors who consider they have been mis-sold property in the Larnaca village of Tersefanou close to Cyprus’ southern coast.
Although the area was planned to have a Golf Resort and Country Club designed by the European Golf Federation and maintained by PGA Golf Management, LGPAG says that construction of the 18-hole professional golf course has yet to make any progress.
According to LGPAG, when property investors purchased up to three years ago, they were promised by the developers that the golf course would be built any-time soon. But the delay in the construction of the golf course has left many with properties worth significantly less than when they purchased and hundreds of properties in the area are sitting empty.
LGPAG has been advised that there are no funds to build the much-hyped Tersefanou golf course in the foreseeable future and are putting together a team to seek compensation from the developers through their lawyers.
For more information and to register your interest, visit the website of the Larnaca Golf Property Action Group.
The PGA terminated its relationship with MedGolf Properties in January 2014.