Cyprus – Avax to complete City of Dreams Mediterranean in 2021By Phil - 5 April 2019
Following a competitive tender and having obtained all required approvals by the Government of Cyprus,
Integrated Casino Resort Cyprus has awarded the construction of the City of Dreams Mediterranean Integrated Casino Resort to Avax.
According to the principal contract, construction is set to begin in early April 2019 and is scheduled to be completed within 2021.
City of Dreams Mediterranean will be located in western Limassol and built to the highest sustainability standards to adapt to the natural environment. It will be the region’s and Europe’s largest Integrated Casino-Resort; featuring a sixteen-story hotel tower with 500 guest rooms including multi-bay suites with garden balconies, an exposition center, an extensive “poolscape” area with four large outdoor pools and amenities such as Jacuzzis as well as an expansive children’s playground. It will offer over 100 tables and 1,000 state-of-the-art slot machines.
The scope of work listed in the principal construction contract includes the building of all the resort facilities situated on 37 hectares of land, including the central podium building, which houses the main gaming floor, world-class restaurants, MICE facilities, luxury retail, as well as the spa and health club with indoor pool. The podium also comprises the main hotel entrance and areas for staff, operations facilities and plant rooms.
The resort will offer a wide range of attractions and entertainment options beyond gaming making City of Dreams Mediterranean a must-visit destination. The pioneering project is expected to attract an additional 300,000 tourists per year to Cyprus. City of Dreams Mediterranean will create an estimated 4,000 local job opportunities during the construction phase and approximately 2,400 permanent jobs once it is fully operational. After the second year of operation, the Integrated Casino-Resort is expected to contribute approximately €700m per year to the Cypriot economy, amounting to around four per cent of the country’s annual GDP.
Chairman and CEO of Melco, Mr. Lawrence Ho, stated that “the awarding of this contract marks the official beginning of the construction of City of Dreams Mediterranean and demonstrates our on-going commitment to the project as well as to Cyprus. I am confident given the experience and success of both parties to the joint venture, that Avax – Terna will deliver the project to the highest construction standards and will enable us to bring an extraordinary ICR to Cyprus. We are happy to be working with established premier contractors, who has devoted efforts to the country and worldwide, to make this unique project a local reality.”
Christos Joannou, Chairman of Avax, Mr. said: “City of Dreams Mediterranean is a large-scale project that will drastically change the entertainment and tourism industry of both Cyprus and Europe. We are honored to be taking up such an important project and we will work to deliver a high standard of quality within the agreed schedule.”