Real Estate News
On 11 of January the residents of Paphos elected the new mayor
Fedonas Fedonos, the independent candidate who was support by the ruling Democratic Rally (DISY) party, became the new mayor of Paphos.
Aegean Airlines will operate Cyprus Airways’ routes
Aegean Airlines Greece's largest full-service airline, will take air routes previously carried by the bankrupt company Cyprus Airways.
Paphos is the most popular destination amongst Real Estate Investors
According to data produced by Cyprus Economic Intelligence (CEI) Paphos was shown to be the most popular town out of all for foreign investments into the real estate between the years 2010 and 2014.
The construction of the first casino in Cyprus
The Council of Ministers of the Republic of Cyprus has approved a creation of the first legal casino in Cyprus.
Cyprus was ranked 64th with regard to the ease of doing business
According to the recently published The Doing Business Report, which is annually elaborated by the World Bank Group, Cyprus was ranked 64th on the ease of doing business out of 189 countries that were compared in the ranking. The original report can be found on the website of The Doing Business Org.
Tax Break for early payment of IPT
The Cyprus International Financial Services Association has highlighted that those paying the Government their immovable property tax dues before October 31, 2014, ahead of the November 30, 2014, deadline, will receive a 15% discount, TaxNews reports.
The outcome of the trial drilling will be known in the nearest future
According to the Ministry of Energy in Cyprus, the results of the trial drilling will be out soon. According to the Minister of Energy George Lakkotrypis, from the results it will be possible to construct a clear picture of how the natural recourses could be used in the future.
Aegean and Ryanair are competing for the acquisition of Cyprus Airways
A well known Greek airline company Aegean Airlines and the European market leader of aviation services Ryanair are the two main pretenders for the acquisition of Cyprus Airways. According to Cyprus media, by the end of the tender process, the government has received a total of nine acquisition proposals. Although,...
The construction of Cyprus` first casino resort will be done through an international public tender procedure
According to the Ministry of Energy, Commerce, Industry and Tourism of the Republic of Cyprus, the potential investor for the construction of a casino will be announced by the end of the summer 2015.
Possibility of a tram system in Nicosia
The Ministry of Transport is taking into consideration the idea of constructing a tram system in Nicosia.
The hotels that will remain open during the winter season may reduce an unemployment rate in Cyprus
The main idea behind this plan is that all unemployed citizens can apply for jobs in the hotels that were previously closed during the winter season.
Hermes Airports have established electronic exits
The new system of E-gates is an automatic system that is located in the boarding areas of the airport and allows passengers to proceed directly to check in. This is just the first phase of the system.