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Shakolas: The objective is Limni Bay

07/09/2015 12:37
The aim of Cyprus Limni Resorts and Golf Courses Plc is the creation of Limni Bay, according to a relevant announcement.

As stated in the announcement, the annual general meeting of the company Cyprus Limni Resorts and GolfCourses Plc, was held at the offices of Shacolas Group, on Friday, September 4th 2015.

As reported, the total assets of the company on December 31st 2014 amounted to € 200.9 mn. and total equity amounted to € 64,6 mn.

The objective of the company, as the executive chairman Nicos Shacolas said, is the creation of Limni Bay, a resort of high quality and aesthetic, which will basically consist of two Signature 18 holes Golf Courses, a club for each court, a luxury hotel of an international chain, a wellness centre of exceptional standard, villas in autonomous plots and other high quality residential units, sports facilities and other related developments and services.

As noted, the project which is fully supported by all 19 communities of the area and the municipality of Polis Chrysochous, will contribute to regional development and upgrading of the tourism product, to the reduction of unemployment, the retention of residents, the better disposal of their agricultural products, to an increase of the value of their property and generally improve the quality of life of local residents, who are in despair while the region is in decline. A letter of support towards the implementation of the project, which was sent to the President of the Republic and the Ministers by the 19 communities and the municipality of Polis, was read at the meeting.

The company's management is completing a research in cooperation with the government so that the project will be fully harmonized with all requirements in the context of Natura 2000.