Newsroom
In a recent press release, the Association of Large Investment Projects affirmed that Cyprus is poised for sustained economic growth, with a portfolio of major projects exceeding €8 billion. The association highlighted ongoing and upcoming ventures, emphasizing their contribution to job creation, economic development, and environmental sustainability.
The association emphasized its commitment to fostering a modern state by investing in domestic products, generating employment, and enhancing the quality of life for citizens and visitors. Notable projects in the pipeline include hotels, medical and diagnostic centers, university campuses, golf courses, schools, and commercial and residential buildings.
Among the showcased projects is the Limassol Hills Golf Resort, featuring a biological water treatment system, solar components, and green public areas. The construction of this resort is expected to employ over 2,700 workers, creating more than 750 new jobs.
Another highlighted venture is the Eagle Pine Golf Resort in Limassol, with an estimated worth exceeding €500 million. The project is anticipated to generate state revenues of €200 million and necessitate 300 jobs during its construction.
The Limassol Greens projects, valued at €400 million, were also emphasized, indirectly creating 800 jobs. Additionally, the Minithis Resort in Pafos, with a construction cost of €500 million, is expected to generate 800 jobs during construction and 500 jobs during its operation.
The Association underlined the projects' commitment to reducing climate impact, aligning with green and sustainable transition goals. By adhering to SDGs and ESG requirements, these developments aim to contribute significantly to Cyprus' environmental and economic goals.
In conclusion, the Association asserted that large-scale developments will play a crucial role in Cyprus' growth trajectory, serving as pivotal investments in the future of the island. These projects not only attract investments but also contribute over 15% to Cyprus' GDP.
[With information from CNA]
