A unique theme park inspired by Cyprus’ history and culture, combining for the first time dry rides as well as waterpark activities. Developed on a 60,000 m2 land plot, the project presents a one-of-a-kind opportunity for investment, as it will be promoted as a new concept adding variety to the tourist product of Cyprus, drawing the attention of travelers and locals alike throughout the year.

The Opportunity

Our object is to identify potential strategic investors who would be interested in making an equity investment in the project company (the ‘’ Company’’). Upon request, we shall provide further information (including full feasibility study) to parties expressing bona fide interest in this investment opportunity subject to the signing of confidentiality –nondisclosure agreement.

The Company

The Company will act as the investment vehicle through which the development of a THEME PARK in Cyprus will be implemented (the ‘Project’, or ‘Park’). The contemplated transaction involves the sale of a 65.25 % stake in the Company’s share capital.

Main Features and Major Players

  • Planning Permit valid as from January 2016 issued by the Town Planning and Housing Department. The first one for Cyprus with no anticipated competition in the years to come, enjoying the full support of the Cyprus Tourism Organization (CTO), planned to be a magnet for the attraction of tourists and local visitors alike, expected to break even and yield a high profit from the first year of operation
  • Budget Estimate for the construction and delivery turnkey within 12 months is expected from reputable building contractors.
  • Provision of the dry rides and activities by Intamin of Switzerland and of the water rides and activities by Van Egdom of Holland both of them leading international Companies in their fields
  • Conceptual Design, Pre-opening operations planning, sponsorship services, Feasibility and Business plan, and on-going Management by International Theme Park Services Inc. (ITPS of Ohio USA) services and management providers to more than 200 successful theme parks worldwide.
  • Exit from the investment in three years i.e. in 2020 through listing in London or Frankfurt Stock Exchange.
  • Opening for operations scheduled for June 2018

Land and location

The land of 60,000 square meters forming the site of the project included in the official planning permit license is located in the South East Tourist Coast of Cyprus along the coastal highway with full sea views, five minutes’ drive from Zygi marina. Further 15 minutes from Limassol, 25 minutes from Larnaca International Airport, 30 minutes from Nicosia 45 minutes from Ayia Napa and one hour from Paphos.

The theme of the park

The Park is designed in consistency with traditional Cyprus and Greek architectural styles. The concept has been carefully developed to create a relaxing but at the same time exciting and joyful environment. The Park will be beautifully landscaped throughout with trees, plants, and flowers, subtly and artistically merging with lakes, rivers, bridges, rocks, and waterfalls creating a highly pleasing aesthetic effect.

The guests and visitors will be able to stroll through the Park, to ride the spectacular thrill rides, attractions, and activities, to enjoy a wide range of leisure facilities and amenities, to take a break in the restaurants, fast-food outlets, and recreational stands, to be entertained with the various shows and to sample the shopping attractions by walking along with the Arcade.

Financial Projections

 

Turnover

The Company’s turnover is projected to grow with a CAGR of approximately 8% in the 7-year period between 2018 (20.1 million Euro) and 2024 (28.6 million Euro)

Earnings before Tax

The Company is expected to break even from the first year and make a profit of € 3.5 million in the first year of operations (2018), with the net profit surpassing the EURO 7 million marks in 2024.

Based on cash flow projections, the IRR associated with equity participation in the Project through the Offering are estimated at 36.82% IRR (expected scenario). Varying the key parameters on which the Project’s success depends, the IRR’s sensitivity is tested.

Two key revenue parameters were altered, the penetration rate among Cypriot residents and tourists, and the admission price. As a result, the IRR varied between 20, 95% (worst case scenario) and 53, 90% (best case scenario) with the pricing rate proving to be a more sensitive (and hence critical) driver for the Project’s IRR.