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Russian Billionaire Roman Abramovich Invests In North Cyprus 30 Million Dolla

Posted on 2008-09-16 17:40:35


Russian Billionaire Roman Abramovich Invests In North Cyprus 30 Million Dollar project. Sources close to The Russian Entrepreneur inform us that Roman Abramovich has been screening the property market for a while now with a view to viable property investments. On top of his list it seems is now Northern Cyprus! He has recently acquired a stake in a beautiful coastal development some 30 minutes to the east of the picturesque town of Kyrenia. Unconfirmed figures put the his North Cyprus investment at $30m


ANKARA, August 21 (RIA Novosti) -- Russian billionaire Roman Abramovich, also owner of the Chelsea football club, is building a 225-villa "Chelsea village" worth $30 million in north Cyprus for wealthy Russians, a Turkish business paper said.


Referans said Abramovich began showing interest in the unrecognized Turkish Republic of Northern Cyprus three years ago. Last year, he bought a land plot in Arapkoy for $5 million and began building a cottage village there. The project is to be completed by the end of 2007.


The Turkish paper said Abramovich seemed interested in investing in the tourism business. In 2005, he bought the posh Istanbul Safisa Hotel in Antalya, which will be inaugurated later this year.


Last week, the businessman traveled around the Turkish mainland resorts of Bodrum and Marmaris, on the Aegean Sea, and Istanbul, Referans said.


The Turkish press also said Abramovich has bought an unfinished hotel, the Keyland, in Marmaris, and is interested in a land plot in the resort town of Kushadasy, on the Aegean Sea, which he is ready to buy for $350 million.


He is also planning to acquire a villa in the Bosporus Strait.