- Cyprus Property News Magazine - http://www.news.cyprus-property-buyers.com -

Paphos development plans received with scepticism

THE MAYOR of Paphos Savvas Vergas reported that a Russian investment company had expressed an interest in the development of the western coast of Paphos.

It proposed to build restaurants, cafes, functions halls, beach amenities, a small marina and an area that could be used by sea-planes, which would fly to destinations in the surrounding areas. Impressive plans, but they would require approval not only by the local authorities but also by the government.

Then there would be the issue of political objections and claims that the Russian company would be favoured, at the expense of local companies, in being given permission to develop a coastal area and build a marina. Vergas should have known better than to make public these plans, before consulting the government, sounding out the political parties, which could block the development and ensuring that the company had the funds for such an ambitious project.

The Cyprus public, we think, has learned not take the announcement of such grandiose plans very seriously.

Only a few months ago, a dubious Russian charity organisation announced it would build the biggest statue in the world in Cyprus but never informed us how this €100 million project would be funded.

Then there was the case of the big Qatari-funded project in the centre of Nicosia, which, according to the government, was a done deal. Is that going ahead or has it been abandoned, like so many other grand plans?