In 2022, the abandoned luxury hotel Yiorkio Residence in Nicosia was sold to the Akelius Group, a company specializing in upscale living. Reports indicate that the acquisition cost was €20 million, resolving one of Cyprus’ most notable real estate enigmas.

Now, after a few years, the teams from FastForward and Proper Property have observed that the building has been fenced off, with construction work underway.

There is widespread curiosity and interest in discovering what this distinctive property will ultimately be transformed into.