General Travel News
Qatari Diar to invest in Cyprus
May 9 - The Cyprus Government has signed an agreement with Qatari Diar Real Estate Investment Company to invest Dh551 million in a real estate venture that includes a five-star hotel, luxury apartments, retail space and office buildings, said officials on Saturday.
This development will take place in Cyprus’ capital Nicosia and both countries will be equal stakeholders in the project."This major tourism development underscored the strong relationships that exist between Cyprus and the Middle East countries and clearly underlines the confidence in the Cyprus economy, which has remained relatively unscathed in the global economic climate. This development needless to say has helped restore investor confidence in the tourism industry of Cyprus," said Antonis Paschalides, Cyprus minister of trade, commerce and tourism.
The project will be completed in 30 months and construction is due to begin in two months’ time. Tourists to Cyprus from the Middle East rose 9.5 per cent in the first quarter of this year. Total arrivals from the Middle East are expected to surpass 50,000 in 2010.
More General Travel News
Latest Travel News
Featured Sights To See
Basilica Cistern
Istanbul, Turkey
The Basilica Cistern, also called the Yerebatan (sunken) Palace, is one of Istanbul's most unique attractions. The name refers to a basilica which once stood at the heart of Constantinople. The cistern was built underneath by Emperor Justinian to provide water to the nearby palaces. It was connected via aqueduct. Allegedly more than 7,000 slaves worked on the construction.&...
The Kremlin
Moscow, Russia
This massive fortress was built in the 12 th century to protect against invasion. It is a remarkable structure comprising of a citadel enclosed by brick walls and gates. It owes its magnificence to the history that it embodies. The fortress was ransacked by the Mongol invaders in the 14th century but was later restored to become the seat of power of the Czars and the Communist rulers. ...
Dar Lasram
Tunis, Tunisia
With the job of overseeing the Medina, Dar Lasram is an 18th century mansion which manages all conversations in and out of the Medina. Home to the Association of Preservation of Medina, the historic palace is in possession of all plans, scribes, photographs and maps of this historic area. For all its worth, the mansion is definitely worth a visit for its beautiful courtyard, vaulted ceilings and b...
Charlottenburg Palace (Schloss Charlottenburg)
Berlin, Germany
is the largest surviving palace in Germany. It was initially built as a summer residence for Sophie Charlotte, the wife of Frederick I. it is a beautiful piece of architecture and gives an insight into the lives of the royals in the 17th century. The large grounds are also good to wander through. A whole day can even be spent there, as there are some adjoining museums. The crowds can be difficult ...