In recent years, Limassol has taken over from Paphos as the main city and resort, especially when it comes to the elite real estate sector, infrastructure development and attracting foreign investment. This Mediterranean city and its environs have very vast territories by the standards of the country, which are of interest to developers and are actively developing. New villas, apartments, entertainment infrastructure - all this is done with the expectation of the growing interest of foreign guests, most of whom are wealthy people.
In the coming years, the first casino in Cyprus will appear in Limassol. Presumably, the casino resort, named City of Dreams Mediterranean, will become the largest of its kind in Europe. In just a few weeks, on June 8, the groundbreaking ceremony for this stunning property will take place.
The casino will be built by the Melco Group. Its chief executive has already announced that a temporary casino will start operating in Cyprus this summer. Its opening will coincide with the commissioning of another major facility in China (we are talking about the grandiose Morpheus casino in Macau). The opening of a casino resort in Limassol is scheduled for 2021. According to experts, the opening of such a facility will attract at least another 0.3 million tourists a year. The projected income from the increase in the tourist flow may amount to 4% of the country's GDP. Let us recall that the tourism sector (such as transport, fishing and agriculture) is one of the main sectors of the country's economy.
The cost of the project is estimated at over 0.5 billion euros. Its construction will create an additional 4,500 jobs a year, and the opening of the casino will employ at least 6,500 more employees both in the casino itself and in related enterprises.
According to the plans of Melco Group, the City of Dreams Mediterranean complex will include a huge gambling hall with 136 tables and 1,200 machines; many cafes and restaurants, a sports and fitness center and swimming pools, a conference hall with an area of 9 600 sq. m., as well as a luxury hotel with 500 apartments.
