Marinos Stylianou: Plenty of projects underway to increase Paphos’ appeal to foreign companies

Attracting foreign companies to set up their headquarters in the Paphos District continues and is a longstanding policy and priority of the Paphos Chamber of Commerce and Industry, stated its Director, Marinos Stylianou.

In statements to the Cyprus News Agency, Stylianou noted that Paphos, with its comparative advantages, low cost of living, airport, low crime rates, beautiful beaches, stunning countryside, and a relaxed yet high-quality pace of life, offers an ideal package for attracting foreign companies.

He added that through the development of infrastructure projects, international schools, and a variety of entertainment options, Paphos will continue to be an attractive destination for foreign companies. At the same time, he expressed his belief that, with the completion of the Marina and other infrastructure projects, Paphos will become an enviable destination for many potential investors.

He specifically mentioned the sale to an investor of the building complex that housed “The Paphos Mall”, which has been renovated and opened its doors to the public, now hosting retail stores. Additionally, he noted that the iconic building at the entrance of Paphos, formerly home to the RIO cinemas and known as the “Paphos Oasis Building”, has already been purchased by a Cypriot company, with the vast majority of its shares owned by a major Dutch group, the JPB Group.

He also mentioned that at the site of the former Orphanides hypermarket in Paphos, luxurious office spaces and other developments are now being constructed.

With all the above, as well as other smaller acquisitions currently taking place, Stylianou emphasised that they are convinced Paphos has already attracted new companies, and it is expected that this interest will intensify, bringing multiple economic, social, and demographic benefits to the district.