Fattal Group: New €20.5m investment strengthens its presence in Cyprus

Following the acquisition of the iconic Grand Resort and the opening of the NYX hotel in Limassol, the Fattal Hotel group is making another new multi-million investment and further expanding its portfolio in Cyprus.

The group entered the Cypriot business scene in 2017 and has since managed to become a major player in the tourism and hospitality sector, owning hotel units in Paphos, Larnaca, Protaras, and Limassol.

More specifically regarding the new project, the Environment Department has given the green light for the construction and operation of the Leonardo Club Latsi in the Municipality of Polis Chrysochous in Paphos. The project entails tourist apartments with 272 beds in total and with additional common areas.

According to the submitted Environmental Impact Study, the cost of the investment is anticipated to reach €20.5 million, while the estimated project execution period is 2.5 years.

It is noted that in the proposed section of the development, which is located in the parish of Prodromi, demolition works are currently being carried out on an existing development called "ZENIG RESORTS LATSI" - formerly "ELIAS RESORTS" - and related to organised tourist A' Category apartments, with a total number of bedrooms of 142. The demolition is in its final stages.

What Leonardo Club Latsi will encompass

The proposed project will include the following:

18 blocks/buildings, of which 11 will be tourist accommodation, with 136 rooms of two beds, so a total of 272 beds. Of the 136 rooms, 11 are for people with disabilities (PWD). Five blocks/buildings out of the 18 will consist of communal spaces, such as restaurants and bars. One block/building, specifically the one at the entrance to the development, is reserved for manned entrance/checkpoint. In addition, a block/building will be a sports area. Most blocks/buildings have a basement and are ground floor buildings, while some of them also have an additional first floor.

There will be 215 parking spaces, of which nine are reserved for people with disabilities. The development will also have 12 bicycle parking spaces and, according to the submitted plans, two bus and taxi parking spaces.

The development will also include 12 swimming pools. The main pool will have a capacity of 1495 sq.m., along with a children's pool and Spa pool.

In addition, within the development will be created: A bar, restaurant, gym, and play area. There will also be an Internal private road network and biological station for tertiary treatment of liquid waste.

The development is planned to be implemented on a plot of land that occupies an area of ​​59,300 sq.m., with the project occupying 49,155 sq.m. The remaining 8,675 sq.m. will be granted as public space.

The CEO of Fattal Hotel Group, Roni Aloni, in a recent interview to InBusinessNews and CBN, referring to this particular investment, noted that according to the plan, it will be a hotel for families, and which will also include a water park.

As he explained, it will be a hotel with suites for families, so for a couple plus two or three children, while at the same time, most rooms will have swim-up facilities.

The Fattal Hotel Group

Fattal Hotel Group is a leader in the hospitality sector in Israel and is one of the fastest growing, currently having 270 hotels in 117 destinations in Israel, Europe and the UK.

It entered the Cypriot business scene in 2017 and has since managed to become a major player in the tourism and hospitality sector, owning hotel units in Paphos, Larnaca, Protaras and Limassol.

Among the group’s upcoming plans is expanding in Nicosia with the opening of a NYX hotel on Makarios Avenue.

(Source: InBusinessNews)