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Chinese investor signs contract with local building firm

23 December 2015

Chinese investor You fei Ma has signed an agreement with the Turkish Cypriot Noyanlar Group to construct an 140 unit apartment block and 52 duplex villa village in Yeni Iskele in an area of 26-donums. According to Turkish daily ‘Milliyet’, only Chinese people will be able to buy a house in the village.

You Fei Ma who is the head of Zhing Sai Developments Ltd will co-operate with Noyan Group investments which operates in the area.

Chairman of Noyanlar Group Ahmet Noyan told the newspaper that the Chinese investor chose Cyprus because he believes in the solution process and because it considers the island to be an unspoiled beauty. On his part, the mayor of Iskele stated: “This is an important event for us, the world has started to notice us”.

The paper further stated that six Chinese families have bought some of the villas that have already been constructed in the area. It also writes that the Noyanlar Group is planning to open an office in Iran and Israel.

Finally ‘Milliyet’ writes that the fenced-off town of Varosha is expected to be re-opened after a solution is reached. The town is only 30km away from Yeni Iskele and will offer many investment opportunities.

Milliyet

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