A new golf course will become operational shortly in the Tresefanou area near Larnaca as part of more general plans to establish a total of 14 gold course in Cyprus, commerce, Industry and Tourism Minister Antonis Paschalides has said.
The three existing courses in Paphos – Minthis Hills, AphroditeHills and SecretValley are being upgraded, he added.
Special committees are at work to take the mast plan forward, he said.
“License applications are being processed.Many different licenses are required by various services and process is underway,” he said.
The ministry is encouraging the creation of golf courses, but some face problems as regards their location and water supply. “we are trying so that all problems are overcome, so that golf courses go ahead,” he said.
Paschalides was clear that there is no way golf courses will be created in Cyprus without using desalinated water.“the Cyprus Tourism Organisation (CTO) encourages the development of Golf Tourism, which is a special interest tourism product in line with the objectives of the Strategic Tourism Plan,” said CTO Golf Tourism Coordinator, Maro Kazepi.
“Some of the new projects in the pipeline will be “signature golf courses”. A new development, the 18-hole international standards golf course, the Elea Golf Project, in south Paphos, is also underway and it will be a Faldo design “signature course” expected to be completed in 2010. It will be pivotal in establishing Paphos as a golfing destination of great appeal. She added.
This year, Cyprus will host the PGC EuroPro Tour Final Championship which will be thre first such professional golf event staged here.
Cyprus is hosting the European Union’s presidency in 2010, with skeptics wondering whether the small Union member will be able to pull it off.
Will it have the necessary up-to-standard infrastructure, trained staff and much needed coordination among government departments?
The jury may be out for some, but Andrea Moleskis, head of the presidency office, is brimming with confidence that Cyprus can and will coordinate the work of the Union for six months without any hiccups. And at a cost that won’t sting the tax payer, either.
“The Republic of Cyprus has proven that it can meet set goals. When we want to succeed in something, we do. Take the country’s harmonisation with the EU acquis, for example, we have high caliber professionals, we just have to take advantage of their skills and knowledge. And we need good coordination.The public service has its weaknesses, but it has also achieved a lot in the past,” he added.
As for estimated cost, he said it will be “well below €90m” which is very reasonable compared to big member state France’s €180m and small Slovenia’s €90m. “We are aware of the obligations and responsibilities, but we have full sense of available resources too,” he said.
Moleskis, who used to head the island’s Planning Bureau, took over the presidency office duties in April.The secretariat employs 15 staff members and the office reports directly to President Christofias.
Their role is a coordinating one, says Moleskis, who has already paid visits to all ministries as well as political parties, the parliament and EU institutions.He believes the renovation of the Conference Centre in Nicosia will be completed by 2012 and that very high-standard hotels all over Cyprus can accommodation EU officials and their entourages.
The Conference Centre and adjacent Philoxenia Hotel will accommodate the needs of journalists, interpreters etc, he said.
Meanwhile, insiders said the new European Constitution’s provisions for presidencies were a blessing in disguise for Cyprus and other small Union members.
Presidencies are now run in groups of three so as to ensure continuity, while EU summits and extraordinary meetings will take place in Brussels only. Cyprus shares the presidency with Poland and Denmark.
“Presidency-countries are now losing out on summits with third countries, for example, an EU-Latin American one. And the input of a presidency country is decreased but so are costs,” a Brussels-based insider told us.“However, Cyprus and all other host countries will be hosting up meetings up to foreign minister level, and work with the newly-elected head of the EU to set their presidency’s priorities – those of the Union as a whole, though,” added the insider.
Foreign Ministry permanent secretary Nicos Emiliouu said Cabinet will set the presidency’s priorities.The Mediterranean dimension of the Union, as well as shipping-related issues could be proposed by Nicosia, he said.
Moleskis said employment issues, especially those affecting the youth, could not be ignored – not with unemployment in Europe as high a s10%.
North Cyprus Agents 'could face legal action' Agents who have sold property in northern Cyprus could face legal action following a landmark ruling in the UK Court of Appeal.
Last week’s judgement against British couple David and Linda Orams established that the legal claim of Greek Cypriots to land in the north that had been illegally sold on to foreign citizens would be enforced in the UK.
The case is expected to pave the way for hundreds of similar claims against British citizens who bought property in the Turkish-controlled part of the country. Some of the blame could be placed on those agents and developers involved in the sale, particularly if the Brits bought in good faith.
“It leaves agents potentially in the firing line depending on what they’ve said and how they said it,” Stefano Lucatello, senior partner at The International Property Law Centre, told OPP.
“Agents are in a very precarious situation and could be brought into the picture and attacked for misselling or misrepresentation and acting either negligently or fraudulently. We would need a test case against an agent to resolve the question and I’m sure there will be one.”
Many Greek Cypriots fled when the Turkish army took control of the north in 1974 and much of their land was then sold on by the Turkish-Cypriot administration that now controls the area.
“If the seller owned the land before 1974, no problem,” said Lucatello. “But if it was registered post-1974 in some form under the Turkish administration then you’ve got a problem.”
Market collapse UK press coverage of the Orams ruling, which forces the couple to vacate the land and demolish their property, is likely to discourage further purchases to Brits in the north.
“This rule will totally finish the sector,” Enver Karakaya of developer NorthernLand Construction told OPP. “We were already expecting this ruling. Because of that we build all our projects on Turkish title deed lands. [But] villas in the Kyrenia area were generally built on exchange title deeds and customers were all foreigners.”
However, the Republic of Cyprus has no de facto control over the north and the Turkish-Cypriot administration has said it will not carry out the Orams’ demolition, raising the possibility that some companies may attempt to continue overseas sales to other international buyers.
“Those left with all the unsold property may reduce prices to tempt buyers, taking even more chances, and they will also look at markets outside Europe as I am sure they already have done,” said Chris Christides, a UK-based IFA and Greek Cypriot property owner.
Brits Buy as Pound breaks Euro Barrier The number of Brits buying euros for property purchases has increased in the last few days after sterling reached a rate of €1.15 for the first time since August 2008.
Foreign currency broker World First has seen a 40% increase in clients buying euros, while new enquiries have shot up by 24%.
“A number of our clients in the market for euros are taking advantage of the improved exchange rate and buying their euros for overseas mortgage payments, property purchases etc now,” World First’s head of private clients, Elisabeth Dobson, told OPP.
“They are delighted to be getting a rate that is up to 12% better than the lows we have seen over the last 17 months. There are a number of clients who will have been holding off on property purchases and overseas investments due to sterling’s weakness against the euro. This rate move will certainly spur people on.”
A run of economic good news from the UK, including a fall in unemployment, rising inflation and an anticipation that the country is out of recession, has helped increase the pound’s strength. Meanwhile, economic problems in Spain and Greece have weakened consumer confidence in the euro.
Continuing improvements Not all currency brokers have seen a substantial increase in business. “€1.15 is a bit of psychological barrier but most clients are still waiting for the magic €1.20 number,” Marc Morley-Freer, commercial director at Moneycorp, told OPP. “After the UK election we could see improvements that could push people to make lifestyle purchases – things are too uncertain before then.”
World First’s chief economist Jeremy Cook remains bullish following sterling’s 9% growth over the last year. “I don’t think this run in particular will last because it has happened so quickly, but the pound could be up to around €1.22 by the end of the year,” he told OPP.
The Law Office has welcomed a ruling by the British Court of Appeal in a property case brought by a Greek Cypriot against a British couple, who have built a holiday home, illegally, on his land in the northern Turkish occupied areas of the Republic of Cyprus.
In an official press release, the Law Office notes that the significance of the ruling is multilevel and above all stresses the United Kingdom`s obligation to respect the sovereignty, independence and territorial integrity of the Republic of Cyprus.
The Law Office adds that the authority of the Cypriot courts to decide on cases concerning immovable property in the Turkish occupied areas is recognised, as well as the obligation of the British authorities to implement these decisions.
Furthermore, the Law Office says that with the ruling, the rights of refugees to property are protected more effectively, since their civil rights are fully safeguarded against those who exploit them.
``Thus, the said ruling can constitute a significant element that will discourage further illegal exploitation of Greek Cypriot property in the occupied areas of the Republic,`` the Law Office points out.
It also notes that the ruling contains many other points, concerning the substance of the Cyprus problem, such as the fact that a peaceful solution should be encouraged, as well as the United Kingdom`s obligations as a guarantor of Cyprus` independence. The UK, Greece and Turkey are, according to the 1960 constitution that established the Republic of Cyprus, the three guarantors of the country’s territorial integrity, independence and sovereignty.
The Law Office furthermore points out that, according to the ruling, the non recognition of a legal decision by a legal court of an EU member state – Cyprus - could worsen the situation.
The Court of Appeal ruled that a decision by a Cypriot court, in connection with claims relating to Greek Cypriot owned property in Cyprus’ northern Turkish occupied areas, must be executed.
The Court dismissed suggestions by the Orams that the case could jeopardize the current effort to find a negotiated settlement of the question of Cyprus.
The British Court judgment was issued in the case of Apostolides v Orams, in which Greek Cypriot Meletis Apostolides took Charles and Linda Orams to court, claiming his property rights over his property in the occupied areas where the Orams had built, illegally, a holiday home.
The Cypriot court had ordered the Orams to pay compensation to Apostolides, demolish the holiday home they had built in his property in the Turkish occupied village of Lapithos, halt all intervention on the said property and deliver it to its legal owner. The British Court of Appeal said this ruling must be executed.
Roman’s low-cost airline Blue Air will launch direct flights from Larnaca to Milan, Warsaw and Vienna from the end of March.
The Bucharest-based airline which has successfully been operating flights from Larnaca to Bucharest and Paphos to Thessaloniki for the past two years, will be operating its new flights in association with Orthodoxou Aviation, its sole representative on the island.
The aim of the airline’s new routes is not competition (with Cyprus Airways for Larnaca-Milan or Eurocypria for Larnaca-Warsaw) but to offer wider choice for passengers, Antonis Orthodoxou of Orthodoxou Aviation told an event launching the new flights.
The new flights will operate three times a week and will start from March 28 2010.
Commerce, Industry and Tourism Minister, Antonis Paschalides, said the start of operations of Blue air with an aircraft based on the island “is significant development for Cyprus tourism and will boost efforts to improve the island’s accessibility in order to attract more tourists from significant markets for this key industry on the island”.
“I want to stress that following contacts with Blue Air officials, we confirmed the flexibility of the company and its eagerness to coordinate with Cyprus’s efforts for the further development of our tourism, so that we can reach our targets as much as possible,” Paschalides said.
Blue Air began operations in December 2004 and operates flights to European destinations. The airline recently also focused on Romanian regional airports.
Cyprus 2 euro coin has been awarded first prize, gaining the title “Best Trade Coin” in an international competition organised in 2009 by Krause Publications, the American publisher of “World Coin News”, the Central Bank of Cyprus has announced.
The winning coin is the common 2 euro circulation coin which depicts a cross shaped idol dating back to the chalcolithic period (3000 BC). The idol is an example of Cyprus’ prehistoric art and civilisation.
The award will be presented on 30 January 2010 during a special ceremony at the World Money Fair in Berlin.
16% of Cypriots below poverty threshold, says Eurostat
Around 16% of Cypriots have had in 2008 an income, which, after social transfers, was below the poverty threshold as defined by the European Union.
According to data issued by Eurostat, the higher risk of poverty in Cyprus is among elderly, since in 2008, the at-risk-of-poverty rate for those aged 65 years and over was 49%, the second highest in the EU27, after Latvia (51%).
In 2008, 17% of the population in the EU27 were at risk of poverty. The highest at-risk-of-poverty rates in 2008 were found in Latvia (26%), Romania (23%), Bulgaria (21%), Greece, Spain and Lithuania (all 20%), and the lowest in the Czech Republic (9%), the Netherlands and Slovakia (both 11%), Denmark, Hungary, Austria, Slovenia and Sweden (all 12%).
Eurostat notes that the at-risk-of-poverty rate is a relative measure of poverty, and that the poverty threshold varies greatly between member states. In 20 of the 27 member states, child at-risk-of-poverty rates were higher than for the total population. In 2008, the at-risk-of-poverty rate for those aged up to 17 years was 20% in the EU27.
The highest rates were recorded in Romania (33%), Bulgaria (26%), Italy and Latvia (both 25%), and the lowest in Denmark (9%), Slovenia and Finland (both 12%). Elderly people also face a higher risk of poverty than the total population. In 2008, the at-risk-of-poverty rate for those aged 65 years and over was 19% in the EU27.
The highest rates were observed in Latvia (51%), Cyprus (49%), Estonia (39%) and Bulgaria (34%), and the lowest in Hungary (4%), Luxembourg (5%) and the CzechRepublic (7%).
In 2008, the at-risk-of-poverty rate for those in employment was 8% on average in the EU27, ranging from 4% in the CzechRepublic to 17% in Romania.
PaphosInternationalAirport has been voted “BestResortAirport in Europe” in a poll conducted by Thomson Airways.
The survey covered all airports in ‘Thomson Airways’ network for the summer season. The airline accounts for 25% of passenger traffic at PaphosInternationalAirport.
“I congratulate the staff at PaphosAirport for their excellent work and high level of service to the travelling public,” Chief Executive of Hermes Aiports, Alfred van de Meer said in a statement, “It is a great distinction.”
The local airport attracted the highest percentage of positive votes and was chosen as the airport which leaves the most favourable impression on travellers. It also scored highly in ‘offering exceptional service to the travelling public’. The award marks the first time that a Cyprus airport has held such an honoured position. The award comes one year after the start of operation of the new airport.
‘This proves not just its great potential but also the determination shown by Hermes Airports staff in carrying out their duties.
For PaphosAirport this first award is not just an acknowledgement but it forms the benchmark for the future,’ a Hermes press release said.
PropertyLink Estate Agents Ltd have recently opened a new office in the Engomi area of Nicosia. The office is situated in a central location and aims to expand the business in the region of Nicosia and the surrounding areas.
Nicosia lies approximately in the centre of the Island which therefore makes it an ideal position for targeting the property marketing in and around the local areas.
Should you require any information at all on the properties that we have available in Nicosia and the surrounding areas please do not hesitate to call Kyriakos Olymbios on 99558788.
Negotiations on a major €1bln marine tourism project in Larnaca are expected to be concluded within six months, says Cyprus Minister of Communications and Works, Nicos Nicolaides. The project, which is being undertaken by A. Vouros Consortium, will see the current marina upgraded with a 1000 boat capacity, hotels, shops and a residential area and will boost the construction sector said a Ministry statement.
Pope Benedict XVI will visit the Mediterranean island of Cyprus in early June next year. The Pope will deliver an outline of topics to be discussed at the October 2010 Synod of Bishops on the Middle East to regional church leaders. The Pope had been invited by the President of Cyprus, Demetris Christofias, by Catholic leaders in Cyprus, and by Orthodox Archbishop Chrysostomos II of Cyprus. The primate is expected to visit between June 4th and 6th.
Landmark €170 Million Wind Farm in Operation in Cyprus by End of 2010
Cyprus’s first wind farm is expected to be fully operational by the end of next year, helping the island to meet EU renewable energy quotas. The €170m park, launched on Wednesday in Orites, was developed by DK Wind Supply, a subsidiary of Cypriot development company Ellinas Energies, producing 8% of the island’s energy capacity. Financing for the project was secured by private equity fund manager, Platina Partners. The European Investment Bank is covering €65m of the loan while Commerzbank, ING and NordLB will cover a further €65m with a syndicate loan. Platina Partners is investing €40m. “The project has a capacity of 82MW in its first phase, with approved capacity for 140MW when complete. Cyprus has opened a new chapter for renewable energy,” Akis Ellinas, Chairman of DK Wind Supply told Grapevine.
Cyprus suffered a 16.1% decline in its tourism revenue in the first nine months this year, as a result of less foreigners spending holidays here.
Tourism revenue from January to September was estimated at 1.233 billion euros, compared to 1.470 billion in the corresponding period of 2008, the Statistics Service of Cyprus announced on Tuesday.
A total of 1.75 million tourists visited Cyprus during this period, compared to 1.97 million visitors in the corresponding period of 2008.
Britain remains the leading tourism market for Cyprus, with 146,530 people visiting Cyprus in September alone. It was followed by Russia with 20,691 visitors, while 16,501 Swedes spent their holidays on the eastern Mediterranean island last month.
Due to the fallout of the financial crisis and the appreciation of euro against British pound and other currencies, Cyprus' tourism operators have expected fewer arrivals and lower revenues this year.
Local hand-made lace, known as lefkaritiko, indigenous to the village of Lefkara, in Larnaka district, is officially inscribed on the Representative List of the Intangible Cultural Heritage of Humanity of UNESCO.
Mayor of Lefkara, Andreas Soseilos, has told CNA that he was informed by telephone on Thursday that lefkaritiko is among the 76 elements inscribed on 30 September on UNESCO’s Representative List of the Intangible Cultural Heritage of Humanity, according to the relevant UNESCO committee.
The request to include lefkaritiko lace was made one and a half years ago by the Ministry of Education and Culture of the Republic of Cyprus in cooperation with LefkaraMunicipality.
These 76 inscriptions were decided by the 24 member states of the Intergovernmental Committee of UNESCO for the Safeguarding of the Intangible Heritage, in its 4th session in Abu Dhabi
The new €1billion Larnaca port development project is set to begin, Communications and Works Minister Nicos Nicolaides said on Tuesday.
Speaking at the House Communications Committee, the minister said the project will include expanding the port, creating a marina that will have the capacity for 1,000 boats, constructing hotels and luxury homes as well as other infrastructure projects.He also told members of the house committee that the ministry will begin final negotiations with the consortium which has been selected by the government, with the aim of the negotiations being to finalise the funding and deadlines to complete the project.
According to Nicolaides, all port development is expected to be completed within three years and all land infrastructure within six years. Larnaca port will be able to accept large modern third generation cruise ships once the project is completed.
Pafos Marina goes to Aristo Developers joint venture!
The joint venture Poseidon consisting of Aristo Developers and others, has been awarded the construction of the New Pafos Marina.
The Pafos Marina will be constructed in the “Potima” area in Kissonerga and will be able to berth up to 1000 yachts.
A number of candidates including local Land Developing Companies tendered for the construction of the New Pafos Marina.
This Marina is seen as one of the largest Infrastructural projects in the Pafos district and aims to enrich and strengthen the tourist product of Pafos.
This project is envisaged to be completed within 4 years at a cost of approximately 70 million Euros.
It has been confirmed that one of the world's six "supermajor" oil companies has taken an interest in the possibility of drilling for oil off the Cyprus coast.
US oil giant Chevron is said to have paid the government over US 1 million for data reports and is preparing to study the area around Cyprus for oil and gas.
The Director of the Commerce Ministry said that the company had paid the government for information on the area in question ahead of the second round of licensing in the autumn.
Chevron Corporation is the world's fourth largest non-government energy company and active in more than 180 countries. A similar deal has already been signed with another US company.
A news agency says study suggest there could be undersea reserves of up to eight billion barrels of crude oil worth about $400bn off Cyprus.
In a separate development, Turkey authorized its Turkish Petroleum Corp to explore for oil off the coast of Cyprus.
