Qatar Investment Authority targets Limassol

THE Qatar Investment Authority (QIA) has shown interest into investing in property in the Limassol area, said Christodoulos Angastiniotis, head of the Cyprus Investment Promotion Agency (CIPA) on Saturday.

Speaking on a CyBC radio talk-show, Angastiniotis said that within the coming days a delegation from the QIA will visit the island to discuss the possibility of investments in the Limassol property market.

Angastiniotis also said that a group of private investors will also be visiting Cyprus, to discuss investing in semi government organisations (SGO) such as the telecommunications authority CyTA, the Ports Authority or the Electricity Authority.

The head of CIPA also told CyBC radio that a delegation from Kuwait will also come to the island to determine whether there are investment opportunities.

“These are all promising developments but we should keep a low profile so as to not repeat past mistakes”, advised Angastiniotis.

Also speaking to CyBC radio, the chief of the Cyprus Chamber of Commerce and Industry KEVE, Fidias Pilidis expressed his satisfaction that Qatar Airways began regular flights from Qatar capital Doha to Larnaca.

Pilidis argued that this was a positive for the economy because it would provide Qatari investors with the chance to visit the island regularly. The KEVE chief added that the new flights would bring more tourists to Cyprus as Qatari citizens now had the option of vacationing in Cyprus.

Pilidis asked of the Cyprus Airways to examine the possibility of regular flights to Doha.

Earlier this week President Nicos Anastasiades ended a three-day official visit to Qatar to try and drum up investment interest. Several bi-lateral deals with signed between the two countries.