28.09.2023
Cyprus meets all the requirements to become a global business and investment hub, says the Major Development Association, adding that the 15 members it represents have some of the largest development projects in their portfolio, valued at more than €8 billion.
The projects under consideration, the Association said in a statement, “confirm that the contribution of the major development sector is truly enormous, with the construction sector employing more than 40,000 workers, confirming its contribution to both GDP and job creation. After all, it is no coincidence that it was one of the main sectors of the Cypriot economy.”
According to the Large Development Association, in addition to the ” City of Dreams Mediterranean ”, which is one of the most important development projects ever implemented in Cyprus, with a total investment exceeding 600 million euros, the marinas of Limassol and Ayia Napa have already opened .
For the public Neapolis « Smart Eco City is a large multifunctional complex that will create hundreds of new jobs. It is also expected to attract foreign companies to locate in the business park, as well as a large number of students, which will make a significant contribution to the economy of Paphos and Cyprus as a whole.
In addition, the Major Development Association reports that the Limassol development project Hills Golf The resort will include, among other things, a biological water treatment plant, a photovoltaic park and public green areas. During its implementation, it is expected to employ about 2,700 people during the construction phase and about 750 more people during the operation of the resort.
“The completion of the project is expected to increase traffic in the area and create new jobs in neighboring communities. The government already has millions in revenue from compensation fees and other royalties, and in the future it will benefit equally from direct and indirect taxes.
Eagle Pine Golf Resort in the province of Limassol will also bring significant benefits to the state, amounting to 200 million euros or more. An investment totaling approximately €500 million, which is estimated to employ 300 people in construction and construction sites over the next 10 years. 200 employees are expected to be employed to operate the resort’s leisure elements – golf course, clubhouse, hotel and shopping centre.
Limassol Greens in Limassol will bring a similar influx to state coffers, with a total investment value of €400 million. This project is expected to create 350 direct and 800 indirect jobs.
Innovative and comprehensive development project – Minthis Resort in the province of Paphos, on a plot of land of 5 million square meters, the total investment value is estimated at 500 million euros. A development that has created 500 permanent jobs, while a large number – about 800 people – are employed in construction work.
Additionally, the Association for Major Development reports that Eagle Pine Golf Resort in the province of Limassol will also bring significant benefits to the state, about 200 million euros and more, and Limassol Greens will also bring a corresponding influx into the government coffers. As reported in Limassol , the total investment cost will be €400 million.
Finally, the Association reports that an innovative and comprehensive development project is the Minthis Resort Resort in the province of Paphos, on a plot of land of 5 million square meters, the total investment value is estimated at 500 million euros.
