At the beginning of February, investors, business leaders and developers have met in Limassol for the Cyprus Investors Summit 2015. This year’s Investors Summit is planning to attract funding for 18 large projects that would surpass the last two years’ 3.2 billion euros in foreign direct investments. Over 60 institutional investors from all over the world will be joining the Summit.
Prices on properties in Cyprus have continued to decrease in the last quarter of 2014, according to the RICS Cyprus Property Price Index. The price fall is due to the economic stability of the island, stability provided by the tourism industry’s performance. The RICS Cyprus Property Price survey showed decreases in almost all Cypriot cities and all types of properties.
Cyprus is planning to become a regional maritime transport network by building bridges that connect the island to the rest of the European countries. In order to achieve that, the Cypriot government wants to privatize its two largest commercial ports. The Communications and Works Minister in Cyprus declared the transports sector plays a key-role in the European economy and the island must participate in the development and completion of the trans-European transport network.
The Hellenic Bank announced new lower interest rates on loans for Cypriot companies. The lowest interest rate would be 3%, according to Bert Pijls, CEO of Hellenic Bank. He also announced the bank would provide more credit facilities which would lead to twice the number of new loans contracted by companies in Cyprus compared to last year. The CEO declared these new facilities come as a response to the need of reviving Cyprus’ economy and the help comes from the European Investment Bank that allocated 70 million euros for new loans.