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American interested in massive tourist investment

Local media reports that a foreigner, believed to be an American, met with President Demetris Christofias yesterday to discuss investing in a massive tourist development on the Island.

YESTERDAY Finance Minister Kikis Kazamias revealed that a foreign investor is seriously interested in investing in a large project that would boost the beleaguered construction industry and the Cyprus tourism sector.

The minister accompanied the investor during a meeting with President Demetris Christofias yesterday at the presidential palace.

Speaking to the media after the meeting the minister declined to elaborate further saying that details will be given by the investor himself. But according to reports in the Greek media the minister did reveal that the investor was an American with dual citizenship.

It has also been reported that the investment will create a large hotel complex and casinos.

The minister noted that the government was considering a number of proposals from other potential foreign investors.

Readers' comments

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  • There’s an article in today’s Mail – the investor is rumoured to be Sheldon Adelson, the Chairman and CEO of the Las Vegas Sands Corporation.

  • hector says:

    Couldn’t have been a Don from Las Vegas wanting to open up casino by any chance?

  • Gavin Jones says:

    In order to preserve this ‘investor’s’ health, wealth and general well-being, his American mind will have to overrule his Cypriot heart.

    This assumes that this isn’t yet another one of those pie in the sky ‘projects’ that are habitually announced with the usual fanfare and gently fade away. (Saudi prince moored off Latchi holding court to the Archbishop, businessmen and others; The on-off Qatari development in Nicosia; the holiday resort in Paphos with seaplane access; giant monument with conference facilities, etc., etc., etc.).

  • chris says:

    “American interested in massive tourist investment” – yeah, right. Even if true, he does have dual citizenship, so this report should be taken with a bucketful of salt.

  • UBoat says:

    Yes I agree.

    WHAT do the Americans want ? I guess the same as the Russians, whom are already here in Cyprus and do participate as tourists. (becoming very noticeable in the last 2 years)

    So as suggested by others looks like the Cypriot spin department have been working overtime during Christmas. May be next we will see a hint of interest from BP or Royal Dutch Shell ?

    Anything to divert attention AWAY from the despicable state of the Cypriot legal system in the property sector ?

    It’s all done with Smoke and Mirrors you know !


  • Curmudgeon says:

    Lessons from the past. Americans only start showing interest is when there is ‘something’ in it for them. Without a doubt, they certainly do not care about Cyprus or it’s people. I doubt if more than 200 Americans live here so what’s their game.

    A big investment here, another there, get into bed with the politicians then wham, call in the investment. Could they be after oil and gas?

    P.S. I think Gazprom has beaten them to it. Didn’t they just buy a €10 million patch of land of recent.

  • Robert Briggs says:

    Do these people know what they are doing and where are the potential customers?

  • andyp says:

    I too have a proposal.

    Any chance of you letting me own the property that I thought I had bought?

    I will slip you a tenner Mr P and you a fiver Mr K.

    Christ even Stelios does not invest here!

    Mysterious investors, major gas finds, union deals. The Cypriot Spin Department were obviously not allowed a Christmas break.

  • The views expressed in readers' comments are not necessarily shared by the Cyprus Property News.


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