Integrated Healthcare, Wellness and Senior Citizen’s Care Project.
The Project is dedicated to promoting health, longevity and wellbeing, through a unique combination of Integrated Healthcare, Wellness and other services, functionally supported by surrounding Hotel, Commercial and Residential developments. Special emphasis is given to Senior Citizen’s Care, in view of the fast aging of population worldwide and in particular in potential source markets.
Cyprus [Κύπρος (Kýpros)]
Estimated project cost
EUR 235 million
Expected Jobs created
Economic rationale / Business Model
LIBOR prepared a Feasibility Study for the First Phase of the Project. The IRR is over 26%. It is worth noting that the IRR of the different components is well above 20% and that the project does not depend on real estate to be viable.
Based on the LIBOR study, the cash needs are for €22m in equity and €33m. in debt financing. Taking into account the value of land (around €28m), the debt to equity ratio, as estimated by LIBOR, is only 0.66.
The Company is ready to discuss various options for equity participation such as participation in the equity of Fortune Health Resorts Ltd or an investment in the equity of the SPV, which shall be established to own and operate the Project; the possibility of investment in one or more of the components of the Project can also be discussed. Strategic investors interested in managing components of the Project are also welcome.
In all cases, the Company would be ready to discuss protection of your investment through a Shareholders Agreement.
Project financing secured: EUR 28.20 million (12 %)
The amount secured is the value of the Land
The promoter has received / applied for EU / EIB financing support related to this project.
Existing or potential bottlenecks for the realisation of the project / Potential risks
Project additional information
Based on a unique dynamic design, Fortune aspires to become the ultimate resort for patients looking for person-centred, multidisciplinary-based solutions to their health problems and for healthy people wishing to stay young and healthy until late age. All parts of the Resort are sophisticatedly planned to work synergistically and interactively as an operational functional whole in order to offer, both to residents and visitors, a huge variety of state-of-the-art health promoting and anti-ageing programmes, based on individual needs and expectations.
The Commission gives no warranty and makes no representation, whether expressed or implied, that the Project Information is error free. The Project Information is provided without any guarantees, conditions or warranties as to its accuracy.
A free translation into English has been provided by the European Commission on this project, for information purposes only. The original language version is the authentic version.