Investor sought for €4.5m redevelopment of Polis Chrysochous camping site

08:20 - 10 March 2025

Real Estate Reporter

The Municipality of Polis Chrysochous has issued the call for expressions of interest for the redevelopment of the area's camping site, Mayor Yiotis Papachristofis has revealed.

As he told the Cyprus News Agency (CNA), the deadline is 4 July. Based on the estimate for the cost of the site's renovation work and the operation of the campsite, the amount is estimated at €4.5 million.

Papachristofis expressed the hope an investor who will undertake the project would be found soon, sharing his assessment that the camp site is expected to be put into operation next year.

More specifically, he continued, the construction work is estimated to cost €2,188,000 + VAT and the operation of the camping area at €2,295,266.36. He added that the contract to be signed with the bidder will be for a period of 25 years with an annual rent of €60,000. He also said that an increase of 5% every two years is foreseen.

Papachristofis noted that based on the announcement, the contract will have an expiration date of 28 February, 2055. The initial contract will be valid until 2040 with the right to renew for another 15 years.

The Mayor of Polis Chrysochous said that the campsite is a popular holiday destination and that for the local authority it is an additional tourist unit at a time when Polis Chrysochous lacks beds due to the absence of large tourist units. The campsite is located in a privileged location with eucalyptus trees and an excellent beach that has been improved with the construction of breakwaters, he said.

(Source: CNA)

Investor sought for €4.5m redevelopment of Polis Chrysochous camping site

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