Turks ponder Varosha plan of $10 billion

Turks ponder Varosha plan of $10 billion

Turkish newspaper Sozcu has drawn attention to Varosha, an abandoned area in Famagusta, calling it the “Las Vegas of the Mediterranean.” The paper says it would take $10 billion to bring the ghost town back to life after being abandoned for 50 years.

The report describes Varosha as a place with old luxury car dealerships, shops with brands like Hoover and Singer, and several hotels like the Asterias and Florida. In total, the area has 105 hotels, 3,000 shops, 99 entertainment venues, 4,649 summer homes, 21 banks, and 24 theaters and cinemas.

Sozcu claims that Greek Cypriots have rejected offers to return Varosha in exchange for lifting economic embargoes. The area was opened to visitors in October 2020 after a survey of its condition began in 2019.

Another Turkish newspaper, Turkiye, reported on new measures to control property sales to foreigners in occupied Cyprus, particularly from Israeli buyers. It explained that the so-called authorities have imposed stricter rules to prevent large-scale foreign ownership. The new regulations, which came into effect recently, limit foreign buyers to purchasing only apartments or houses.

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