City of Dreams Mediterranean, a luxury hotel-casino billed as “Europe’s largest”, opened in Limassol, southern Cyprus, on Tuesday. This complex was designed to attract more than 300,000 additional tourists per year to the island. With 14 floors, 500 rooms and suites overlooking the city and the sea, long and winding swimming pools, sports facilities and even an open-air amphitheater: “This complex is the largest of its kind in Europe”, declared the American Grant Johnson, the real estate director of the City of Dreams, during the inauguration.
After three years of construction and more than 637 million euros invested, the establishment “gives Cyprus the possibility of becoming a leading tourist destination”, estimated Lawrence Ho, the CEO of the Hong Kong group Melco at the origin of the project. “It allows Cyprus to conquer new markets in Africa and the Middle East,” he added. During the opening ceremony, Lawrence Ho said he had the idea to build the complex in the coastal city of Limassol when he visited 16 years ago to attend a wedding. The project was to build a “hotel where James Bond would like to go”.
A few years later, a 7500 m² gaming surface, 100 tables and 1000 slot machines are ready to welcome the public – a public that can afford it, room rates in high season ranging from 425 to 2300 euros per night . City of Dreams, the first property Melco opened outside of Asia, currently employs 2,000 people. This luxury hotel-casino hopes to make the island a year-round upscale tourist destination and world-class entertainment destination. “Cyprus is now ready to compete with Europe and the Middle East in the field of luxury tourism,” said Lawrence Ho.
Casinos were only legalized in Cyprus in 2015. In addition to the Orthodox Church, which is very powerful in Cyprus, part of the population was opposed to them, such as former President Demetris Christofias (2008-2013) who associated them with Corruption”. Before the Covid pandemic, 2019 was a record year for Cypriot tourism, with 3.97 million tourists spending €2.68 billion. This sector is a key driver of the economy, contributing around 15% of Cyprus’s GDP.
