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Significant boost to economy from foreign investment

The economic map of Cyprus may be about to change following a meeting between the government and Canadian giant Triple Five to be held at the Presidential Palace in Nicosia tomorrow.

Paphos seaplane project comes under fire

Plans to build a multi-million Euro tourist project in Paphos including seaplane landing and take-off facilities and a series of recreational developments have come under fire from the Cyprus Antiquities Department.

Investments in Cyprus construction continue to fall

October saw a sharp fall in the number of building permits issued in Cyprus according to figures published earlier today by the Island’s Statistical Service which show a drop of 19 percent compared with October 2010.

American interested in massive tourist investment

Local media reports that a foreigner, believed to be an American, met with President Demetris Christofias yesterday to discuss investing in a massive tourist development on the Island.

Construction investment decline continues

Investment in the Island’s construction sector is continuing to decline according to figures published earlier today by the Cyprus Statistical Service, which reveal a 13.3 percent fall in the number of building permits issued over the first nine months of this year compared with last.

Many properties will remain unsold

It is unlikely that the existing stock of new properties in the oversupplied markets of Paphos, Larnaca and the Famagusta/Paralimni area will be sold in the near future as they were built for “buy-to-flip” investors and are unsuitable for permanent living.

Construction deal with Qatar on track

The deal between the Cyprus government and the Qatari Diar Real Estate Investment Company to build a luxury hotel, apartments, shops, offices and a leisure complex in Nicosia is on track.

Resale villas and apartments offer safer investments

Given all the uncertainties and doubts about buying off-plan property in Cyprus, why not consider a resale villa or apartment as these offer safer investments and often, better value for money.

Paphos development plans received with scepticism

Perhaps not surprisingly, the grandiose plans for the development of the western coast of Paphos have been received with some scepticism by the local media.

Russians interested in Paphos tourist investment

Almost a month ago a Russian investment group approached the Mayor of Paphos, Savvas Vergas, to present a plan for a number of tourist developments of the town.

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