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Next Karousos: Aim to attract investment in real estate and projects HOME • INSIDER • CYPRUS • Karousos: Aim to attract investments in real estate projects
Attracting significant investments in the real estate sector and the planning and implementation of major technical and construction projects are strategic goals of the Government for the improvement of infrastructure, said the Minister of Transport, Communications and Works Giannis Karousos, at the beginning of the 113th Conference. European Manufacturers Association on Thursday.
He said the & nbsp; construction sector is one of the drivers of economic growth, with a significant contribution to GDP. For this reason, he said, the Ministry puts high on its priorities the issues that concern the construction sector and through various actions focuses on its continuous development.
He said that the Government, aware of the new data created by the war in Ukraine in the construction sector and the economy, intends to make the most of the opportunities available to encourage and facilitate new investments, for which there is already interest from abroad. At the same time, the Government, said the Minister, is promoting its own operational program, which in recent years has given impetus to the development of Cyprus and the construction sector.
“Development projects that are announcements of its President “Democracy, with a total budget of € 1.2 billion, are already underway or are being launched for implementation in the near future nationwide, with the aim of improving the quality of life of our citizens,” he said.
Listing some of the most important projects underway or soon to be promoted, the Minister of Transport referred to the infrastructure for the Vasilikos energy project, the New Cyprus Museum, building infrastructure in the field of health and government services, infrastructure for hosting refugees, infrastructure on the road network, the Nicosia Perimeter Motorway and sections of the Nicosia-Troodos, Limassol-Troodos, Paphos-Polis Chrysochous and Nicosia-Paleochori highways.
In addition, said Mr. Karousos, with estimated investments of € 1 billion, the Concession Agreement for the integrated Development of the Port and Marina area of Larnaca is in the process of implementation, a project that has already been delivered to the Contractor last month and is estimated to have multiple benefits for the local community of Larnaca District, but also for the economic development of the country in general.
Mr. Karousos expressed the assessment that these projects, in addition to their immediate benefit as infrastructure, will have a beneficial effect on GDP growth, will significantly revitalize the construction sector and will create new jobs. “Strengthening the competitiveness of the economy is a key strategic goal of the Government, guided by sustainable development in an environment of financial stability and social cohesion,” he stressed.
In his speech, he said that the essential steps to strengthen the contribution of construction to the development process of the country include accelerating the implementation of already planned projects, providing incentives for investment in housing and other buildings, promoting private investment in infrastructure, setting priorities based on a long-term strategic plan for infrastructure and ensuring healthy competition in the public works market, in order to optimize the cost-benefit ratio of infrastructure projects over their life cycle.
“We are in the face of new challenges, which we are called upon to manage in the best possible way for the benefit of society. “Market data are creating new trends and, therefore, there is an urgent need for the construction industry to transform its business models and work environment, redefine its values and evolve its processes at the base of the new digital age,” he said. Finally, he noted that despite the problems posed by the pandemic and the war in Ukraine, we have an opportunity to redesign a greener, more sustainable and rational model of development.