The change in the ownership status of the building complex of the American Academy in the Achelias area of Paphos has been official for some time now.
Information from Phieleftheros confirmed by financial circles involved in the negotiations, state that the new multimillion deal in Paphos has been closed with a buyer group of Russian interests.
The same information refers to a multimillion agreement.
According to the agreed terms, the future of this development will continue to be in the field of education, as the new owner has informed that their intention is to operate an educational institution of all levels there.
This particular educational institution will be English-speaking, and the new owners have already indicated that they are moving rapidly towards the relevant government departments to secure the necessary permits for the operation of the new school with the new academic year.
The building complex, located on the old Paphos-Limassol road, between Achelia and Koloni, is 12 years old.
