Politis

Kanika Group and SODAP Sign Long-Term Land Lease in Paphos

Published January 22, 2026, 09:27
Kanika Group and SODAP Sign Long-Term Land Lease in Paphos

The Kanika Group of Companies has announced a long-term (66 years) land lease agreement for a 41,160 square meter plot in Lower Paphos, owned by the Cooperative Wine Products Distribution Organization (SODAP). The agreement, signed by Alexis Christostomou (Kanika) and Yagos Tsivikos (SODAP), includes the construction and operation of a five-star hotel with at least 285 rooms. The signing was also attended by Kanika Group Executive Chairman Spyros Karaolis, SODAP Board Chairman Nikos Savvides, and legal advisors from both sides. The plot's location is considered particularly advantageous due to its beachfront position.