The ground breaking ceremony for the City of Dreams casino just outside Limassol, expected to be fully operational by 2021 creating thousands of new jobs and giving tourism a significant boost, was held on Friday.
A temporary casino, housed at the former Orphanides supermarket Limassol, will operate before the end of the month.
Speaking at the ground breaking ceremony on Friday morning, President Nicos Anastasiades said the luxury integrated casino resort was a landmark for Cyprus. “Today is a historic day and marks a significant landmark for Cyprus,” he said.
The casino resort is the largest investment project ever in Cyprus, he added as he thanked the managing director of Melco Lawrence Ho and his associates for their vote of confidence in the Cyprus economy.
The €550m project will create 4,000 jobs during construction, and 6500 when fully operational, the president added. It is also expected to attract an additional 300,000 tourists a year, helping to combat seasonality.
The temporary casino will operate in Limassol until the opening of the luxury resort while four satellite casinos are due to open — one each in Nicosia, Larnaca, the Famagusta area and Paphos.
After the ceremony, guests and the media toured the temporary casino in Limassol.