The investment concerns the acquisition of the Elias Latsi Holiday Village Resort, which will soon be completely renovated and renamed to Leonardo Club Family Resort.

The new project is expected to offer a new experience in Paphos, with state-of-the-art facilities and many activities for families and children, including a water park. Based on the plans, the estimated cost amounts to €55 million, and with the issuance of the necessary permits, the project will be completed within 1.5 years.

In the information report submitted to the Environmental Authority, it is mentioned that an application has been filed for a modified urban planning permit. This aims to change the use of the licensed development from last year, from organized tourist apartments to a hotel with a capacity of 240 rooms, accommodating 480 people.

The licensed project involves the construction of 18 blocks/buildings, of which 11 are tourist accommodations with 136 rooms with 2 beds, and 5 of the 18 blocks are common areas. On the plot under study, there were existing tourist accommodations, called Zenig Resorts Latsi (formerly Elias Resorts), which were organized A' category tourist apartments with a total of 142 bedrooms, which have been demolished.

Compared to the original design, the proposed plan includes the addition of an extra floor to 8 of the 11 blocks that pertain to tourist accommodations.

Therefore, the new proposed development involves the construction of a hotel complex consisting of 18 blocks, 11 of which are for tourist use, five for public use, one as a control point, and the other as a sports facility with an underground support area, in the municipality of Polis Chrysochous.

In a short period, the Israeli hospitality group Fattal Hotel Group has expanded its presence in all coastal cities of Cyprus. Specifically, the group has acquired seven hotel units on the island, in Paphos, Larnaca, Protaras, and Limassol, while it is proceeding with the complete renovation of two more acquisitions in Latsi and Nicosia.

The hotels in Paphos are the Leonardo Plaza Cypria Maris Beach Hotel & Spa, Leonardo Laura Beach and Splash Resort, and Leonardo Cypria Bay. In Limassol, there is the NYX Hotel Limassol and the GrandResort Limited Edition by Leonardo Hotels. In Larnaca, there is the Leonardo Boutique Hotel Larnaca, and in Protaras, the Leonardo Crystal Cove Hotel & Spa by the Sea. The NYX name is also given to another hotel expected to be completed in Nicosia. The Fattal group is considered the largest hospitality group in Israel and one of the fastest-growing hotel groups, with 270 hotel units in 117 destinations in Israel, Europe, and the United Kingdom.