Cyprus Mail

Investors’ summit showcases island’s flagship projects

The Second Cyprus International Investors’ Summit, to be held in Limassol from September 11 to 13, will showcase flagship projects in the property, real estate and leisure sectors.

Participation is by invitation only, limiting the event to serious investors keen to explore opportunities in one of Europe’s best-performing and most resilient economies where foreign direct investment (FDI) increased by 9.1 per cent last year.

Among those snapping up places at the summit are major real estate asset managers, private equity firms and sovereign wealth funds from around the world.

Local companies involved in a dozen key projects will give presentations to the select gathering of 120 guest delegates.

As well as panel discussions, there will be cocktail parties and other social events to provide networking opportunities with fellow investors, stakeholders and experts in a range of sectors. Delegates will also have the chance to visit the sites of projects that have attracted their interest.

Several cabinet ministers are among the keynote speakers, highlighting the government’s commitment to attracting and serving investors. President Anastasiades will host a dinner on the summit’s opening day.

Cyprus’ GDP is expected to grow by three per cent this year and to remain steady at this rate until at least 2021. Confidence in the economy’s ability to bounce back after a painful bailout in 2013 was reflected by the success of the first Cyprus international investors summit two years later.

With record numbers of holidaymakers now coming to Cyprus, the tourism sector offers attractive openings for further FDI, which is also flowing into the resurgent real estate market.

Large-scale luxury residential and mixed-use tower blocks are changing the skylines of Cypriot cities while globally-renowned enterprises are investing on an unprecedented scale.

Hong Kong-listed Melco International and the US’s Hard Rock signed a contract with Cyprus in June to build Europe’s first integrated casino resort in Limassol. At a cost of €500m, it is the island’s largest-ever tourism-related investment and is expected to attract 300,000 more tourists a year.

Investments are also coming from a growing range of countries. An Egyptian billionaire has a significant stake in a €220m luxury marina and residential complex under construction in Ayia Napa. There is a €50m Chinese investment to build a five-star resort and beachfront homes in the Famagusta district, and the South African-based Atterbury Group has acquired Nicosia’s two biggest malls for €200m.

In addition to presenting investment opportunities in the island’s property, real estate and leisure sectors, the 2nd Cyprus International Investors Summit will outline attractive opportunities across a range of other traditional industries as well as emerging ones. Among the former are shipping, banking and financial services while the latter include investment funds, energy, healthcare, ICT and start-ups.

The summit has been organised by the Cyprus Investment Promotion Agency (CIPA), which screened the projects that will be presented.

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