Construction of 2 golf courts to start soon
26/10/2009 6:44
Two of the total eleven golf courts will soon be under construction, since by the end of the year the owners of the two projects will have secured the approvals that will allow the start of the construction projects.
Urban Planning Department Manger, Christodoulos Ktorides told StockWatch that two of the eleven applications take precedence over others and their owners enter the final stage, that of the hearing and the safeguard of the license. The two projects are that of Tersefanou in Larnaca and thatof Limni in Polis Chrysohous.
Mr. Ktorides said that the remaining applications are on track but it largely depends on the businessmen themselves to promote their applications and to comply with the Committee’s remarks.
“There are several issues that can be only solved by the businessmen, such as the desalination stations with renewable sources of energy, the access to the court, the offsetting measures and other issues that must be arranged so that they secure the final license”, he stressed.
The two businessmen that are just one step before the start of the construction works spoke to StockWatch with enthusiasm and expressed their readiness to start works on the same day that they will secure the license.
Chairman and major shareholder of MED Golf, Dimis Karapatakis stated that works will commence right after the safeguard of the license, while the hearing has been scheduled for November 27.
Executive Chairman of Cyprus Limni Resorts & Golfcourses, Nicos Shacolas, who will build the two golf courts in Limni told StockWatch that works will start immediately as soon as the master plan is approved. “Despite the economic crisis, the Company has secured the financing of the projects”, he noted.
With the safeguard of the urban planning and the housing license, the businessmen will submit 30% (€1.5m) of the €5 million that the total license costs, while the remaining sum will be paid gradually. The license will be valid for four years and in the meanwhile the businessmen are obliged to start the construction works otherwise the validation will expire.
Urban Planning Department Manger, Christodoulos Ktorides told StockWatch that two of the eleven applications take precedence over others and their owners enter the final stage, that of the hearing and the safeguard of the license. The two projects are that of Tersefanou in Larnaca and thatof Limni in Polis Chrysohous.
Mr. Ktorides said that the remaining applications are on track but it largely depends on the businessmen themselves to promote their applications and to comply with the Committee’s remarks.
“There are several issues that can be only solved by the businessmen, such as the desalination stations with renewable sources of energy, the access to the court, the offsetting measures and other issues that must be arranged so that they secure the final license”, he stressed.
The two businessmen that are just one step before the start of the construction works spoke to StockWatch with enthusiasm and expressed their readiness to start works on the same day that they will secure the license.
Chairman and major shareholder of MED Golf, Dimis Karapatakis stated that works will commence right after the safeguard of the license, while the hearing has been scheduled for November 27.
Executive Chairman of Cyprus Limni Resorts & Golfcourses, Nicos Shacolas, who will build the two golf courts in Limni told StockWatch that works will start immediately as soon as the master plan is approved. “Despite the economic crisis, the Company has secured the financing of the projects”, he noted.
With the safeguard of the urban planning and the housing license, the businessmen will submit 30% (€1.5m) of the €5 million that the total license costs, while the remaining sum will be paid gradually. The license will be valid for four years and in the meanwhile the businessmen are obliged to start the construction works otherwise the validation will expire.
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