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Chinese firm invests €290 million in Pafos real estate!

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14-06-2013

Chinese firm invests €290 million in Pafos real estate!

On May 27th, following a meeting with President of The Republic of Cyprus, Mr. Nicos Anastasiades, Mr. Charles Zhan, the President of Hong Kong investment group China Glory International (CGIG) announced the official conclusion of a US$374 million (€290 million) property investment in Pafos, Cyprus. The groups projects in China include the Chateau-Glory International Apartments, The Summit Club and No.9 Commercial Mansion. Over the next two to three years, the group intends to invest a further €1.5billion to develop the property acquisition into an exclusive resort. They commented that despite the recent economic problems, they are very confident in Cyprus’ future.

 

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