Cyprus Announces €122 Million Development Projects for Famagusta
Infrastructure, Economy, Tourism, and Social Welfare at the Core of Government Investments
President Nikos Christodoulides has announced 30 development projects worth over €122 million for the Free Famagusta District. The projects, aimed at improving road networks, urban regeneration, economic growth, education, tourism, and social welfare, were unveiled during a regional gathering in Paralimni as part of his nationwide tour of municipalities and communities.
Accompanied by Cabinet members and government officials, President Christodoulides outlined the government's strategic plan to further develop the district and enhance the well-being of its residents.
According to the Presidential Office, the President emphasized the significance of the Free Famagusta District, highlighting its key role in Cyprus’ tourism industry, primary sector, and overall economic competitiveness.
The President emphasized support measures for businesses tackling high energy costs and labor shortages. He outlined government initiatives such as energy storage projects and a forthcoming revision of the foreign employment strategy. Additionally, the upcoming tax reform aims to boost household income, support the middle class, and enhance business competitiveness.
He also highlighted efforts to establish university branches in the Free Famagusta District to strengthen higher education and align academic programs with labor market needs.
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Key infrastructure projects announced include road network improvements, the development of linear and urban parks, and the expansion of tourism infrastructure. Notable projects include:
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The upgrade of the central road in Avgorou along Karyon Avenue (€9 million)
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Construction of a multi-story parking facility in Paralimni (€8 million)
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Enhancement of Ayia Napa’s coastal front (€3.6 million)
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Improvement of the road connecting Vrysoudia Street to Pinia Street (€4 million)
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Construction of a road from Agios Panteleimonas roundabout to Agia Varvara Church (€5 million)
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Phase two of Stadias Street, Giakoumis Papadopoulos Street, and Korai Street upgrades in Paralimni (€14 million)
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Phase four of the Protaras Coastal Pedestrian Walkway (€18 million)
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Renovation of Frenaros’ traditional core (€1.3 million)
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Paralimni Square redevelopment (€11.2 million)
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Creation of an Urban Multipurpose Park in Ayia Napa (€5 million)
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Development of a Linear Park in Acheritou (€1 million)
Economic Growth, Business, and Tourism
The President announced several initiatives to boost economic activity and support local businesses, including:
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A €700,000 incentive scheme for the hospitality sector
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A €300,000 funding plan for municipal enrichment projects
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Creation of an industrial zone in Dasaki Achnas (€250,000)
Education and Social Welfare Investments
The education sector will benefit from:
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The upgrade of Paralimni Gymnasium’s facilities (€5.5 million)
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Construction of a new Paralimni Gymnasium (€15 million)
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Establishment of a Tourism Studies School under MIEEK
Social welfare projects include:
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A Model Autism Center for the Free Famagusta District (€4 million)
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Expansion and upgrade of the nursery and childcare center in Avgorou
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Additional projects in the SKE area (€140,000)
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Intensive Day Program for Rehabilitation (€1.5 million)
Cultural and Sports Development
Cultural investments involve:
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The transformation of Ayia Napa Monastery into a museum and research center (€2.3 million)
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The construction of a Cultural and Conference Hall in Deryneia (€5 million)
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An outdoor amphitheater in Avgorou (€1.5 million)
Sports infrastructure projects include:
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Upgrades to the sports centers in Sotira, Frenaros, and Liopetri (€2 million)
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Construction of a public sports facility in Achna (€2 million)