Filenews 25 January 2023
They exceeded €15m foreign investment in Paphos, according to the Paphos Chamber of Commerce and Industry.
Specifically, as stated by Marinos Stylianou, Secretary/Director of EBEP, an investor bought the building complex that housed The Paphos Mall, for the amount of €12.5 million. The complex has been renovated and is soon expected to open its gates to the buying public, housing various stores and well-known chain stores.
In addition, he continued, the emblematic building at the entrance of Paphos where the RIO cinemas, known as the "Paphos Oasis Building", were housed has already been purchased by a Cypriot company with the vast majority of the shares belonging to a large Dutch group.
As Mr. Stylianou mentioned, the Dutch group is active in the areas of supply chain, collection and treatment of chemical waste, provision of industrial support services, logistics, energy and software and IT development.
Recently, the purchase of the former Orphanides supermarket in Paphos for an amount exceeding €3 million was completed in order to create luxurious office space and other developments without specifying whether the buyers are foreign investors or Cypriots.
"With all the above and other smaller markets, which are currently taking place, we are convinced that Paphos has already attracted new companies and it is expected that interest will become stronger with multiplier economic, social, demographic benefits for our District", noted Mr. Stylianou.
"The attraction of foreign companies based in our District and continuing and is a standard policy of the Paphos Chamber of Commerce and Industry, as well as a priority", he further stressed.
Paphos with its comparative advantages, low cost of living, airport, low crime rates, beautiful beaches, beautiful countryside and low and quality of life, are an ideal package for attracting foreign companies, he said.
He also pointed out that with the creation of infrastructure projects, foreign-language schools and the creation of entertainment options, Paphos will continue to be an attractive destination for foreign companies and expressed confidence that with the completion of the Marina and other infrastructure projects of hyper-local importance it will be an enviable destination for many potential investors.
