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The Good Fortune for active people
in Cyprus in the future?
By Antonis Loizou, FRICS
Antonis Loizou & Associates Ltd Chartered Surveyors
Property Valuers -
Project Managers
22
January 2012
We
wish to express our envy for the active locals
(including of course foreign residents) that they will
be around in Cyprus after 2-4 years. There are so many
developments going on, that in a 2-4 years time there
will be numerous options to keep one busy and happy
living in the island.
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We have already 4 golf courses operating (all in Pafos
regrettably), but out of the remaining 7 serious
applicants, even if we are to adopt that 4 will be
constructed within the next few years, the total of 8
is quite satisfactory, bearing in mind the small
distances. We expect that the Shacolas Group (the
Doer) will carry out its project of 2 golf courses at
Limni (Polis area), as well as (say) one of Aristo and
another one of the Lanitis Group (in Limassol). The
Ayia Napa golf course is not progressing and no one
knows where it stands, whereas the other golf courses
are still in search for finance.
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The marinas are under way, but with only the Limassol
one being built. It is quite impressing its success of
40% sales of the apartments and 5% of the beach villas
(launched a month ago) and this at the initial stage.
We await the Larnaca marina (under negotiation),
whereas the Ayia Napa one is debatable
(notwithstanding its progressive management) as to the
timing of its execution.
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The various fishing harbors/marinas are also under
way. The Zygi one, just completed, is an attraction,
as is the Four Seasons one at Ayios Theodoros. We are
awaiting for the Pissouri marina (say in 3-4 years)
and the Latchi one is just completed – the Pafos
marina is still nowhere!!
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Many U.K. universities are interested in setting up
own branches (not corresponding) here. Two very large
U.K. universities are under negotiations in search of
suitable properties and this will give a boost to the
economy providing alternatives to all sorts of people
including foreign students to attend.
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Casinos are coming sooner or later. Let’s estimate a
period of 3-4 years (one of the “good things” of the
recession causing the Government to give in,
considering 4-5 casinos all over the island).
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The water dams (at long last) are considered to be
used for entertainment/ sports. The objections of the
W.D.D. seem now that we are in trouble are being
reconsidered, allowing sailing, rowing and other
sports to take place.
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The mountain snow is far from satisfactory (from its
10 years ago level when international ski games took
place), but is coming (!!) at least this year. Let’s
hope that this will continue (it is beyond us why we
do not have dry ski slopes see S.B.A.).
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By sheer politics and gas, Israel is coming closer to
Cyprus. Let’s hope that we will have Israeli hospitals
set up here to serve locals as well as Arabs (who will
not visit Israel) as well as others. Bearing in mind
the lower costs in Cyprus this could be a bonanza.
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Our natural trails as well as cycling routes are
improving considerably. Have you visited the
Trooditissa-Phini route? Don’t miss it and its
waterfall 1 hour walk down hill.
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We await the car racing track at the Larnaca airport,
the Qatar deal, the Russian Moni investor (turned
down??) for a conference hall and others.
What is more important for us, however, is that we have
came back to earth (as Cyprus). For the first time we
have unfortunately 8% unemployment and a disaster in the
real estate and businesses, whereas interest rates are
“killing” just about everybody. This is a lesson for all
of us to remember, but then this situation has caused
business ventures of some size to turn towards foreign
investors, which appear now to be one of the few sources
of finance.
The politicians, at long last, have realized that what
sounds good to the people’s ears is not necessarily
correct. The last elections have given them a lesson and
have awaken them on the importance of development,
whereas the spoilt from 40 years ago civil servants,
with the new approaches that we have noted, one hopes
that we will have better management.
So, far those of us who will be around after 2-4 years
and still be active, the quality of life in Cyprus is
expected to change for the better. Keep your fingers
crossed!!
www.aloizou.com.cy
www.aloizou.ro
www.aloizou.ru
ala-HQ@aloizou.com.cy
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