Construction of the luxurious Limni Bay golf resort in Polis Chrysochous has been canceled.
On Friday, January 29th, Cyprus Limni Resorts and Golf Courses Plc development company announced its final decision to stop work on the project.
As it turned out, the reason was the land alienation by Bank of Cyprus as part of the debt restructuring of the Shacolas group, which previously included Cyprus Limni Resorts and Golf Courses Plc. The developer announced that they do not intend to continue work on the project in such conditions.
At the same time, the company noted that they are now considering if it's to develop other projects in the area of Limni, Kynousa and Lysos, on a plot of 300 m2.
As you may know Cyprus Limni Resorts and Golf Courses Plc spent more than one year and proved a series of special studies to obtain permission for building a multi-purpose golf course and resort complex in Limni (Polis Chrysochous area).
The reason for claims to the project was its close proximity to one of the most important breeding grounds for the endangered Loggerhead turtles. According to the European Commission, which has long disputed the construction of the resort, light and noise pollution, as well as the presence of people in that area, could negatively affect the turtles behavior and their offspring safety.
The permit was granted after the latest environmental study was found to comply with national environmental legislation and all recommendations of the European Commission.
The project cost was estimated at 800 million euros.
As conceived, the Limni Bay resort had two 18-hole golf courses, two clubs, a 5-star hotel with 160 rooms, 800 villas, entertainment facilities, a historical and cultural heritage museum as well as an extensive network of nature trails and bike paths.
To achieve all these goals, the world famous American company EDSA was involved in the project. They developed the master plan and landscape, architectural design of villas, hotels and clubs. The golf courses were designed by Jack Nicklaus and Gary Place, who are considered some of the best golf designers in the world.
By the way, the projects took into account not only the restoration of the natural environment, but also the need to protect the turtle nesting beach. In addition, the company has spent tens of millions of euros to rehabilitate the environment in the area, removed 12 million m3 of waste left by the previous owners.
However, ambitious plans of Cyprus Limni Resorts and Golf Courses Plc never come true. The project, which a lot of time, money and resources were spent on, has been cancelled.