globe trot
Cyprus:
Emerging from a
historic past
By Sindhu Nair
The land of Aphrodite is
attracting investors in the
huge property development
sector of the country
86 Qatar Today december 10
i
f there is any similarity between Doha and Cyprus, it would be the frenzy
of construction that is visible and then perhaps the size and the population
of both countries. But the similarity ends there. In Cyprus, the construction
activities continued all the way from Larnaca to the seaside city of Paphos,
where we (journos) were put up, and most of the construction is tourism-
based, for hotels or investment-based housing options. While in Doha, glistening tow-
ers are the order of the day and most of it is concentrated in the heart of the city.
The population in Doha comprises mostly expatriates (who form close to 75% of
the total population) while in Cyprus there is a majority of Cypriot Greeks (75% of the
total) while the Turks who occupy the northern part of the country form 10%. Expats
make up the remainder.
A peaceful countryside with beautiful landscapes, comfortable and safe living condi-
tions, (despite the Turkish invasion) and a long coastline and consequently views that
one would die for, were my first impressions of the country. The people are friendly
and there is an air of unhurried calm, one which makes you sit back and enjoy the
land of mythical lore, a country where the Goddess of love, beauty and sensuality

emerged from the sea in a surge of foam.
And hence, the country seemed more like
a “retirement haven” than a country with
business prospects.
But there is more to Cyprus than just its
tales of myth, and it took the launch cer-
emony of Neapolis, the new Eco City, to
which media from Doha and other Middle
East countries, Russia, China, India and
the Americas were invited, to help in un-
derstanding the ambitions of the country.
The Minister of Trade, Commerce and
Tourism, Antonis Paschalides welcomed
the media and explained why the country
is being touted as a land of “immense” in-
vestment potential.
Neapolis: SMART Ecocity
The President of the Republic of Cyprus, Demetris Christofias lays the
foundation stone for Neapolis EcoCity
Leptos Group, one the leading prop-
erty developer in Cyprus, announced
in front of international media, the
start of an Eco City project, Neapolis,
anticipated to generate a gross de-
velopment value (GDV) in excess of
Euro2.5 billion (QR12.125 billion) of-
fering sustainable annual returns to
its investors during the 13-year-de-
velopment period. The project is an
integrated urban mixed-use scheme
located on a 1.1 million sq mt site
in Pafos, Cyprus with an approved
master plan for 520,000 building co-
efficient sq mt of development. The
Neapolis Smart EcoCity is the first
project of its kind in the Mediterra-
nean and one of the largest in Eu-
rope.
The first phase of this project,
consisting of the innovative smart
eco-city infrastructure, the Neapo-
lis Hospital and the Assisted Living
Residences will commence in 2011.
The first of the Neapolis SmartEco
Lifestyle Communities will go on sale
“Cyprus with its unique geographi-
cal position at the cross roads of Europe,
Africa and Asia is in close proximity to
the busy trade routes linking Europe with
the Middle East, Russia, Central and
Far East Asia.”
Sound Infrastructure, reliable telecom-
globe trot
towards the latter part of the first
phase. Phase one is already under-
way, with over Euro171 million (QR
829.35 million) of investment already
committed to the development. The
project will generate 8,000 new jobs
by the close of 2018, contributing
significantly to the local economy.
In other signature developments,
Leptos Group sales have reached
"record sales" from investors from
Scandinavia, the UK, Russia and the
Middle East who have supported
property development in Cyprus.
Leptos Group, Founder and Chair-
man, Michael Leptos said, “Macro-
economic stability and sustained
economic performance are only some
of the attractions that Cyprus holds.
We envisage that the Neapolis
Smart EcoCity project developed in
the mythical ‘Aphrodite Gardens’
will represent the future in intelli-
gent, eco-friendly living. It is a first
for Cyprus and will be one of the
largest in Europe.”
munications, low corporate taxes, high
education standards and solid governance
makes the country attractive to foreign in-
vestors, emphasised the Minister.
“Confidence and trust in the Cyprus
Banks is another added advantage,” he
said
december 10 Qatar Today 87
 globe trot
The Top 5
1 Paphos Harbour & Castle
The harbour at Paphos attracts vis-
itors all year round. The view is su-
perb, with lots of colourful fishing
boats bobbing in the waters. The
castle is the remains of a much ear-
lier castle of the 1391 period, which
was demolished by the Venetians.
The Ottomans used it as dungeons
and the British as a warehouse for
salt.
2 Kolossi Castle
Ancient Curium and the castle at
Kolossi are both in the Limassol
area and can be visited together in
a day. They are just two examples
of the wealth of history to be found
in Cyprus -- the Curium sites dat-
ing from the 2nd century AD and
Kolossi from the 13th century. The
ruins at Curium are to be found in
breathtaking scenery overlooking
A history of invasions
But all of this didn’t come easy. Cyprus
has a long history, one that makes all Cy-
priots sit up with pride.
Cypriot civilisation goes back 11,000
years according to archaeological evi-
dence. The island acquired its Greek char-
acter after it was colonised by the Greeks
between the 13th and the 14th century BC.
It later came under the aegis of the Roman
88 Qatar Today december 10
the sea – this is probably the
most spectacular archaeological
site in Cyprus.
3 Larnaca Salt Lake & Hala Sul-
tan Tekke
The Larnaca Salt Lake and site of
the mosque or Tekke of Hala Sul-
tan. Salt has been extracted from
the lake since ancient times and
this continues, on a small scale,
to this day. If you are visiting Cy-
prus in late winter or early spring,
look out for the visiting flamingos
and other migratory birds.
4 Ayia Napa and Protaras
If you like a bit of fast-paced enter-
tainment, then Ayia Napa should be
top of your list. It was once a small
fishing village, but not anymore. It
boasts of some of the best beaches
on the island, lots of opportunities
for water sports and is a popular
destination for package tours.
5 Nicosia
Look at any map of Nicosia and you
will see the distinctive shape of the
walls of the old city. The walls and
their eleven bastions were built by
the Venetians in the 1570’s. Most of
the historic monuments of Nicosia
can be found in the winding streets
within the walls. It is also the site
of the famous tourist quarter, Laiki
Yitoniak, which is full of gift shops
and restaurants.
Empire. Cyprus came under the rule of
successive foreign powers, King Richard
I of England, the Knights Templar, the Ve-
netians, the Ottoman Turks and the British
again.
Throughout the centuries and through
these various invasions, the Greek iden-
tity, language and culture was retained and
prevailed through centuries. A fact that is
repeatedly mentioned by Greek Cypriots.
“Cyprus with its unique
geographical position
at the crossroads of Eu-
rope, Africa and Asia is
in close proximity to the
busy trade routes link-
ing Europe with the Mid-
dle East, Russia, Central
and Far East Asia”
Greek Cypriots launched an anti-co-
lonial struggle against British rule from
1955 to 1959 and finally Cyprus gained its
independence and became a constitutional
republic. According to the Zurich-London
agreements, political power was to be
shared between the Greeks and Turkish
Cypriots in a 7:3 ratio.
Everything was peaceful until 1974,
when Turkish military aggression against
Cyprus took a turn for the worse and these
matters are still being discussed and efforts
are ongoing for a peaceful solution.
A City being built
Even with political problems unresolved,
the free-market economy in the govern-
ment controlled area made a remarkable
recovery since 1974 and Cyprus now en-
joys a stable economy with a major thrust
on tourism, light manufacturing and ser-
vices.
“The climate, the EU status plus the in-
frastructure makes Cyprus a good destina-
tion for investment in property,” said the
Minister. He also stressed on the strong
business relations it shares with Qatar.
“We have a solid relationship with Qa-
tar. The Emir visited us recently and some
bilateral agreements were signed. Qatari
Diar and the Cypriot government have
agreed to set up a joint venture for the de-
velopment of a leisure complex in Nico-
sia, Cyprus, with the initial investment
greater than QR546 million. The area for
the complex is close to the commercial
hub of the capital and is expected to cover
50,000 square meters of construction. The
project will include a 5-star hotel, luxury
residential villas and apartments, retail
space and office buildings,” he said n