Filenews 7 February 2024
Undoubtedly, 2023 was an important year in the field of large developments. The projects that have been implemented or have been launched, compose the profile of a modern state, which invests in its domestic product, creates new jobs, upgrades the quality of life of both residents and visitors, while contributing to the transition of Cyprus to a green era. A course that continues dynamically in 2024, with the Association of Large Developments playing a decisive role.
The portfolio of members of the Association includes, among others, hotels, medical and diagnostic centers, university buildings, golf courses, schools, commercial and residential buildings. Large developments that are expected to bring multiple benefits to our country, with their total value exceeding €8 billion.
Ambitious projects include the Limassol Hills Golf Resort, which will have an impressive biological water purification station, a photovoltaic park and public green spaces. In the context of its implementation, it is estimated that more than 2,700 employees will be employed, while with its opening more than 750 people will acquire a job.
An equally important investment for both the Limassol district and the whole of Cyprus, is the Eagle Pine Golf Resort, with its value exceeding €500 million. A project that is estimated to add €200 million to the state's coffers and employ 300 people for its implementation.
At the same time, Limassol Greens, worth €400 million, will create 350 direct and 800 indirect jobs, while the pioneering Minithis Resort project in the Paphos district, with a total cost of €500 million, will employ 800 people for its construction and 500 for its operation.
It is worth noting that the design and implementation of these projects is based on environmental studies, aiming at reducing negative impacts on the climate. In other words, they are based on practices that follow the framework set by the green
sustainable transition and growth, contributing substantially to the achievement of our country's SDGs goals and ESG criteria.
Once again, it seems that major developments will be the protagonists in the development course of Cyprus, as they undoubtedly constitute a decisive investment for the future of our country. They create a favorable environment for attracting investment, leading to the inflow of revenues to state coffers, contributing significantly to the Gross National Product (GDP, with a percentage of more than 15%), while creating thousands of jobs for citizens, contributing catalytically to the Cypriot economy.
*Article by the Association of Large Developments
