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The most important factor in selecting an area for residential projects is the location of the property-plot according to CSE-listed company Wealth Avenue PLC.
The project is part of Club Med's wider global strategy to shift towards more luxurious accommodation experiences.
The preparation of the study is financed by resources of the Green Fund, through the environmental balance action program.
The hotel will continue to operate under the Hyatt franchise and be managed by a Yiannis and Tina Daskalantonakis' interests firm.