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Posted On: 28/10/2009
2 of the 11 new golf courses approved by the Cypriot government several months ago look likely to be started before the end of the year. Land owners at the proposed golf course sites at Tersefanou and Limni are nearing the final stages of obtaining permission and should be starting work before the end of the year.
Urban Planning Department Manger, Christodoulos Ktorides told StockWatch that two of the eleven golf course applications are taking precedence over the others and that their owners are entering the final stage; the hearing and the safeguard of the license. The two projects are those at Tersefanou in Larnaca and Limni in Polis Chrysochous.
However, there is still some work to do on the part of the owners of the projects, who must comply with the planning department's suggestions.
"There are several issues that can be only solved by the businessmen, such as the desalination stations with renewable sources of energy, the access to the courses, the offsetting measures and other issues that must be arranged so that they secure the final license," Ktorides stressed.
When the Cyprus government approved the 11 new golf courses several months ago it was considered great news Cyprus tourism and for the property markets in the areas where the courses were to be. Of course some people argued that they would require too much water, despite the fact the government ordered that each course have its own desalination plant.
Golf properties in Cyprus among the biggest hits of all Cyprus properties, for the same reason the Canaries were popular with golfers, because the climate is highly suitable for playing golf for a large part of the year. British golfers love to go and play courses in sun soaked countries, because the fairways and greens run faster and they feel more like the pros.
Thus the 11 courses should have a massive impact on their respective property markets, and it will be interesting to watch the performance of the markets at Tersefanou and Limni as the courses are built.
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