Israeli-Backed 1 Billion Shekel THE RING Resort in Cyprus Secures Permit
The luxury resort project THE RING in Cyprus, backed by over 1 billion shekels, has secured a building permit and transitioned to construction. The development involves Israeli, German-traded Aroundtown, and Cypriot firms.
Israeli real estate investments in Cyprus continue to expand as the luxury residential and resort project THE RING, backed by an investment exceeding 1 billion shekels, has officially secured its building permit. The development in the Larnaca region is now transitioning from planning and pre-marketing to active on-site construction, with apartment deliveries slated for approximately two years.
The project is spearheaded by a strategic partnership between Israeli, European, and local entities. The partners include the Israeli real estate firm Nadlan Nadlan and Felix Cohen, the major European public real estate group Aroundtown—traded in Germany and featuring prominent businessman Yakir Gabay among its leading shareholders—and the Cypriot real estate firm Prosperity Group, which acts as the local developer on the island.
Located in the village of Meneou, the resort is situated just a five-minute drive from the beach and Larnaca International Airport, with the city center and promenade also within close reach. The architectural design was entrusted to the international firm UHA, renowned for its extensive experience in residential and hospitality architecture across Europe and Cyprus.
Designed as a gated residential community, THE RING will feature a comprehensive suite of shared amenities for residents and guests, including three swimming pools, fitness centers, a padel tennis court, a private cinema, co-working spaces, and children's play areas. The operational model is structured around a high-end hotel management standard, offering a full concierge service and ongoing maintenance of both public and private areas.
Additionally, the developers provide a full property management package tailored for non-resident buyers. This includes marketing and operating the apartments for short-term tourist rentals when unoccupied, handling guest turnovers, cleaning, and managing routine maintenance. The project is being marketed simultaneously in Israel and across Europe, catering both to investors seeking yield-generating assets and buyers looking for a vacation home.
Erez Nir, co-owner of Nadlan Nadlan and Felix Cohen, highlighted the receipt of the building permit as a crucial milestone that paves the way for physical construction. He noted that the project largely appeals to Israeli investors seeking a strategic location near the airport and beach, supported by comprehensive property management that eliminates the need for physical presence, all backed by the financial strength of experienced international and local partners.
