The government is handling the matter of a hotel in Varosha which allegedly belongs to King Charles of the United Kingdom “diplomatically”, President Nikos Christodoulides said on Tuesday.

British newspaper the Daily Express had alleged King Charles owns the Golden Sands hotel in Varosha. A spokesman for the king told the Cyprus Mail the claim “is not something we recognise.”

Christodoulides was speaking to reporters on the second day of German President Frank-Walter Steinmeier’s visit to Cyprus.

“We are monitoring all the reports, and have seen similar reports many times in the past. Our diplomatic mission, the High Commission in London, is investigating the matter,” he said.

“Rest assured, everything that needs to be done is being done through diplomatic channels.”

The Golden Sands hotel is located in a prime position in Varosha. The Daily Express claimed it was the “world’s first seven-star hotel”.

The revelations regarding King Charles’ alleged ownership of a hotel in Varosha are the latest episode in the ongoing saga regarding the area’s planned reopening.

They were accompanied by comments from Muhammet Yasarata, managing director of tourism operator Cyprus Paradise, who said he plans to turn Varosha into the “Las Vegas of the Mediterranean.”

The proposal, allegedly put forth by a consortium of billionaire businesspeople from across the globe as well as some of the world’s most successful hoteliers has identified the beachfront town of Varosha as the best location for this new billion-pound project.

Yasarata said dozens of casinos, luxury hotels and resorts, shops and fine dining restaurants are planned to be built in the area. But this in unlikely to be by his company as he has a net worth of just £1 million (€1.18m).

Previously, an anonymous Turkish businessman had announced his intention to hold a tender for the reconstruction and structural reinforcement of a number of hotels he had bought in Varosha, though the tender never came to pass.

Two years ago, reports suggested a marina was to be built in Varosha, but this also never happened.

Varosha had been off limits to the public for 46 years after 1974, before certain areas were suddenly opened in October 2020.

The move was announced during that year’s Turkish Cypriot leadership election by then ‘prime minister’ and leadership candidate Ersin Tatar during a joint press conference with Turkish President Recep Tayyip Erdogan.

Within days, Tatar was ducking under a barrier and leading scores of visitors into Varosha for the first time in almost five decades. He was elected as Turkish Cypriot leader nine days later.