Melco attends 5th Cyprus International Investors Summit

Highlights opening of IR will help revitalize and recover Cyprus’ tourism sector

Melco, operator of Cyprus Casinos (C2) and the upcoming integrated resort City of Dreams Mediterranean, the only licensed casinos in Cyprus, participated at the highly anticipated 5^thCyprus International Investors Summit organised by Invest Cyprus on Thursday, 28^th January 2021.

The event, which was attended by more than 500 delegates, was held digitally in the presence of the Minister of Finance, Constantinos Petrides, as well as several local key stakeholders and focused on the outlook of the Cyprus economy and the country’s comparative advantages as a regional and international headquarter destination. During panel discussions, representatives of accounting and law firms as well as of international investors and government officials had the opportunity to analyse prospective and current market opportunities in various sectors such as Hotel, Travel, Leisure, Real Estate and Health.

Property General Manager of City of Dreams Mediterranean and Cyprus Casinos, Mr. Grant Johnson attended the “Growth Sectors: Investment Opportunities in the Tourism & Hospitality Sector” panel discussion during which he referred to the reasons that led Melco to invest in Cyprus. Mr. Johnson stated, “We chose to invest in Cyprus because, first and foremost, there was a very transparent tendering process and our plans for tourism aligned with the plans of the government. Now that we are into the implementation phase and working with the Minister of Tourism as well as Invest Cyprus and leaders of the hospitality industry, we still share a common vision for tourism and hospitality for Cyprus”.

Furthermore, Mr. Johnson said that in light of the challenges created by the pandemic it is now essential to revitalize and recover the tourism sector, highlighting that the opening of the IR will help towards this goal,and that the IR’s facilities, such as sports facilities, aim to attract varied types of tourism year-round. Mr. Johnson also referred to the eco-friendly practices applied at the IR, stating that “customers nowadays tend to prefer environmentally sustainable destinations and for this reason we are working with various accreditation organizations to build an eco-friendly resort”. He added, “We have the fortune and the opportunity to leverage the knowledge we have gained through the development of other Melco properties and apply it to the IR City of Dreams Mediterranean”.

City of Dreams Mediterranean will be located in Limassol and is set tobe Europe’s largest integrated resort. The project is set to enrich Cyprus’ tourism landscape, attracting an additional 300,000 visitors annually with an aim to significantly combat seasonality as well as providing close to 4,000 local job positions during the construction phase and approximately 2,500 once it is fully operational.