Cyprus remains a prime destination for investors eyeing lucrative deals in the real estate sector, as the island offers a variety of investment opportunities for both local and foreign investors, according to a leading real estate company. The biggest opportunity at the moment is on the south east coast, in Larnaca, as the government moves … Read more
The Commissioner for Administration, Maria Stylianou-Lottides, has ignited a firestorm within the Asylum Service after a scathing report revealed significant delays in processing international protection applications from Syrian refugees. The report, prompted by a surge of complaints from frustrated applicants, exposes a bureaucratic nightmare with some Syrians waiting two to five years for a decision … Read more
The termination of the contract for the development of the Larnaca port and marina was due to a loss of trust and breakdown in communication between the contractor Kition Ocean Holdings and the government. The government sought legal advice and decided to terminate the contract after the company refused to pay the guarantee amount. The Kition CEO blamed the government for the project’s failure, stating that changes were needed to make it viable. The government acknowledges mistakes were made and plans for the project were over-ambitious, making it unviable. If a new company takes on the project, plans need to be modified and scaled down.