A Chinese village is set to be constructed in North Cyprus following an agreement signed between a Chinese investor and a Turkish Cypriot company it emerged on Tuesday.
According to Turkish newspaper Milliyet, the deal has now been signed between businessman You Fei Ma and the Turkish Cypriot Noyanlar Group.
It provides that 142 apartments and 52 villas will be built in İskele in an area spanning 26 acres.
Chairman of Noyanlar Group, Ahmet Noyan told the paper the investor chose Cyprus because he believed in the peace process and because he considered the island ‘a virgin beauty’.
‘Mayor’ of İskele Hasan Sadikoglu said “this is a big issue for us the world has started to notice us”.
The paper added only Chinese people will be able to buy a house in the village.
Six Chinese families have reportedly already bought some of the villas while Noyanlar Group is apparently planning to open an office in Iran and Israel targeting Russian customers.
Milliyet added should Varosha city, only 30km away from İskele, be opened up as part of the solution would pave the way for several investment opportunities.
The Chinese businessman reportedly said they preferred İskele because the area had not been developed. It had already garnered the interest of British, Russian and Scandinavian investors in the past.