GOLD News reports that the Cyprus government has granted permission for the construction of a Disneyland-style theme park near the village of Oroklini in Larnaca district.
According to the report, the permission was contained in a policy document published yesterday, and includes the construction of touristic village and a five star hotel set in 500,000m2 of land.
The project first hit the news in 2009 when the Greek-language newspaper Politis revealed plans to build a Disneyland-style tourist theme park near Pyla on 80 hectares of land (800,000m2).
The venue subsequently shifted to Oroklini, but two years ago plans stalled as discussions continued between the Government, Russian investors and land owners in the area to see how the land would be used.
It looks as if the five-year wait may be over and although smaller than originally planned, the theme park should generate much-needed revenue from tourism when completed.
Thanks Denton, I do know people in the vicinity but I am cautious of info from them due to ulterior motives as I have a plot for sale just off Dhekelia road.
Do you think if it is true it would be farmland, i.e. several fields? And maybe you’re right about Livadia too.
@Knucklehead. I think the general local reaction is one of deep cynicism after so many other fantasy projects over so many years. When I arrived in Oroklini 10 years ago, the locals were telling me then of the golfing complex project that had been resurfacing over at least the previous 10 years. It’s resurfaced twice in the last 10 years and sunk without trace each time.
As to government land, I suppose some may exist but if so it is well hidden.
@Mark. 500,000sqm is about 0.75km x 0.75km, not mega-mega but certainly much bigger than the Palm Beach footprint. I’m struggling to identify any plot of land that big unless perhaps it is somewhere outside the village and over towards Leivadia beyond the wetlands.
Its not THAT big. 500,000 sq. m is only 750m x 750m. Not much bigger than the site of the Palm Beach hotel.
I wonder how serious this is, what the theme will be and even more importantly will it make the surrounding area appreciate in value. I wonder if permission granted means concrete permission has been requested or are the government trying to re-package an opportunity?
@ Denton- Interesting, I heard it was going to be built on mostly government owned land. Are locals there still saying its a dud?
My God, I am so clever, I often scare myself (please read article “Property Developers: Run Forest Run!”, SOJB comments on 3 Mar 2014 at 1.59 am pgphs 4 & 5)!!!
This Oroklini type of Russian-funded wonder-theme-park-golf-course-marina-luxury-hotel-tallest-building-in-the-universe nonsense is EXACTLY what we need.
In slight contrast to the statement below that hard-hitting economic sanctions will soon befall the Russians, the EU aint pitchin’ in cos the financial power of the EU is Germany and 40% of its gas and oil comes from Russia. There’s also the leaked UK government document (Secret UK Government Document Says ‘No Sanctions on Russia’).
For US (the dispossessed property-buyer in Cyprus), this is a good thing.
No, really.
Backed into a corner (i.e. no meaningful, united economic sanctions, no chance of military intervention), the US of A will have to do SOMETHING to thwart Russian aggression/liberation of indigenous Russian speakers/military and economic expansion (delete as you feel). A stand could be made in Cyprus.
So, Rusfetti, keep on stoking the fire (again). MORE Russian involvement in Cyprus please!!!
PS. I’ve a good range in crystal balls, if anyone’s interested?
As a long-time Oroklini resident, I declare both a personal interest and a deep cynicism about the likely prognosis for this theme park. As another blogger noted, there have been many such ‘big projects’ proposed for Oroklini and environs since 2004 (and indeed much earlier), let alone the much longer list of similar for the rest of Cyprus.
There was the Oroklini Golfing Complex which has never seen the light of day. Then there was the Hotel & Leisure Complex slated at some Euro 500mln when Sylikiotis was in office; that was supposedly backed by Russian business investors but the ‘view in the local taverna’ was that it was just a land value inflation scam as the ‘investors’ vanished. And what about another one (absolutely cast iron, we were told) for a Disneyworld at Pyla next door – and even nice Mr Putin was a key investor, honest! Perhaps that one morphed into the ‘theme park project’ that we are now told has been switched to Oroklini?
You will be hard pushed to find a single person in Oroklini who believes one word of this latest fantasy. Even if, miraculously, it turns out to be genuine, we are struggling to imagine where on earth in the Oroklini environs there is 500,000 sqm of available land!!!! My advice? Don’t hold your breath!
Moreover, if Russian money is involved there may be a teeny weeny problem of much heightened scrutiny imposed by the EU/ECB following the imminent sanctions against Russia following its Ukraine actions.
Actually it makes economic sense to delay issuing the title deeds. I purchased in 2002 and my deeds at that time would have cost me C£6,200.
When they were issued over 10 years later I paid nearly three times that amount.
The extras were made up of late payments in tax, 10 years payments to the developer (only part of which was refunded) and then an inflated amount based on the 2007 price.
So it’s money in the bank earning interest for the Cypriot Government. Far from costing the Government money it’s running this scam at a profit.
Hi All
Well this must be just like the Marina at Ayia Thekla near Ayia Napa. They put a perfect road drainage and lighting in a few years ago and that’s where it has stayed.
No Marina, no sign of it and still the local developments have not been completed and probably never will as then they may have to look at providing title deeds to those that have brought there.
As you say Janner its about the money and power and the potential to resell time and time again making more money for the elite few. Keeping the land in their ownership because when its gone its gone ! they will then have nothing to bargain with.
It’s true if they wanted to sort this mess out it would have been done a long time ago. and as you correctly say, Toika have now been brainwashed to letting them carry on regardless. Thanks EU for all your help.
oh ye! Does anyone know a good web site or estate agents where I can try to sell my place. Cheers
@SoOJB. You’re bang on! It’s always about the money. People need to get their heads around the fact that the title deeds issue is not a mistake. It was planned to protect the elite with the sole aim of fleecing as much money as possible! As long as
Germany continue to fund the gravy train it will continue.
Sharron, you’re kidding right? I take it you’ve read this: NPLs reached €26.25 billion in November 2013.
In brief: in order to issue deeds (and the government get in the estimated €1bn in transfer fees) SOMEONE has to stump up for the NPLs or the banking system crashes. If the banking system in Cyprus crashes, the country’s economy crashes and they can’t pay their debts. If they default on money owed to the Troika (forget about what they owe to Russia: for now!) it’ll trigger a PIIG-wide default (but including France and Spain) and the Euro dies. The only country which COULD pay the piffling some of €26.25bn (and counting…) NPLs is making enough money out of the economic status quo that they’ll be able to keep themselves in dodgy leather shorts and strudel for years! That’s Germany, by the way.
So, in order to get in the fees from fixing the plumbing, the Cyprus government risk destroying the whole house (actually, the whole development). Hence the outraged clamber from the EU DEMANDING drastic and immediate action to right the evils perpetrated on the poor property – buyers of Cyprus…
The only people in whose best interests it is to resolve this are the people under the stairs (do you see what I did there with the house analogy?). That’s us, by the way.
And, in the grand European project scheme of things, we don’t matter…
@Sharon & Nigel,
If it made sense for the Government to sort out title deeds it would. They have clearly chosen not to do this and have talked the troika into sharing their view. It is always about money. Yes, the government would stand to make money by ensuring the title deeds mess was resolved but they have avoided it at all costs. The reason for this must be money. They don’t want to because it isn’t in the best interests of the those in power (the government) but would be in the best interests of Cyprus. So when I say they haven’t sorted it out for financial reasons I mean they haven’t sorted it out because it suits the elite with a vested interest. It’s always about the money!
@Nigel
That would be the same Neoclis Sylikiotis who was going to “untie the Gordian Knot” of Title Deeds and solve the backlog of thousands. Not the most reliable of sources, I suggest. When he promised thousands; he meant few or none. Can we have faith in his understanding of “thousands” now?
I heard about this in 2004 when I came out here to buy my house and the golf course. Let’s wait and see ah.
Forgive me my cynicism. Haven’t we heard this kind of announcement many times? Are we to be told exactly how it will be financed in due course? Will it really happen?
Could it possibly be that there will be foreclosures in the offing in that area? – consequently lots of necessarily cheap properties on the banks’ books – and a carrot to tempt the Chinese, Russians ……anyone who is gullible enough to take the “opportunity”?
I trust no one has forgotten the golf course that was supposed to bring ’em flocking in?!
Shoot me down in flames someone – if I’m wrong then great for Oroklini and surrounding areas!
@Sharon – you’re correct.
When he was Interior Minister, Neoclis Sylikiotis said that the transfer of each property results in €8,000 revenue for the government.
That works out to a total of more than a billion Euros (€1,040,000,000).
Janner, of course there’s an advantage to the government sorting out the title deeds issue think of the millions they’ll get in by way of revenue from issuing deeds.
In broad terms – Oroklini theme park is a good idea. It will bring revenue, jobs and tourists – which is good.
Of course – the project needs to be co-run with another country (like the new airport was) as leaving it up to the Cypriots would mean it’ll just about be completed next century – if at all!
Meantime – as everyone says – they can’t use this (or anything else) as a distraction event to de-focus from the mess they’ve created with loans, real-estate and title deeds.
But it’s up to us – ALL of us to ensure Frau Merkel and the E.U gnomes of the Troika don’t forget about it. Do you think they read this forum and our vitriol?
Nope – me neither….
@Julie. There is no advantage to the government sorting out the title deeds issue. If it made financial sense they would do it. Believe me. For those that have paid in full its a win win for Cyprus. They have your money and have kept ‘their’ sovereign soil. It takes a long time to change this type of attitude. Government clearly do not want to resolve the title deeds issue but more importantly the troika has given the green light for Cyprus not to bother!
I think Cyprus needs to concentrate on getting the title deeds sorted first, with all the houses that are just sitting and not finished been built, with loads of empty places, why is it they just think this is the answer to build a fun park, when they need to clean up the mess they have made, if they want people they need to open their eyes and do the right thing for all the long time owners, the title deeds, who else will ever come back to Cyprus if they know there are no deeds to house, don’t they realise that everyone knows what Cyprus has done, this place could be a wonderful island if only the government concentrated on the important things first.
On completion of the theme park will (Title Deeds) be available?
I guess they will be, a case of not what you know but who.