North Cyprus News | Luxurious Hotel at Escape Beach

North Cyprus News | Luxurious Hotel at Escape BeachNorth Cyprus News – Luxurious Hotel at Escape Beach

Hurriyet newspaper (19.01.14) has reported that the Turkish Altinbas Holding company has leased 20 donums of land for 49 years in the area of Escape Beach where Turkey landed its troops during the 1974 intervention in Cyprus. They are planning to build the most luxurious hotel in the north at a cost of 100 million dollars.

The land was leased from the Evkaf Religious Foundation and the company plans to start building the hotel next year. This is the group’s first move into tourism; a change from jewellery, banking (with Creditwest bank) and energy (with the Alpet gas stations).

An application has been made to the Evkaf Foundation’s Administration and according to Teberruken Ulucay, the Minister of Interior, the issue has not yet come onto the agenda of Evkaf’s board. The chairman of Evkaf’s board, Huseyin Inan, said that there might be an intention to build a hotel but for such long-lasting leasing the approval of the administrative board is needed first and then the permission of the Council of Ministers.

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