Panel Discussion: Anti-crisis Strategies in an Era of Economic Uncertainty
Yiannis Misirlis, speaks about the Property Investments in Cyprus during Best Invest Congress 2019.
Source: Youtube
Panel Discussion: Anti-crisis Strategies in an Era of Economic Uncertainty
Yiannis Misirlis, speaks about the Property Investments in Cyprus during Best Invest Congress 2019.
Source: Youtube
Prospective overview at a conference with foreign investors
The Minister of Finance mentioned the government’s actions for turning around the economic state and addressing the challenges in the economy.
The Cypriot economy has entered a new promising period, Finance Minister, Haris Georgiadis, mentioned at the 4th Cyprus International Investors Summit in Limassol, reassuring all 150 and more foreign businessmen and investors for the great prospects Cyprus offers as an investment destination.
In his opening, Mr. Georgiadis recalled the difficulties that the Cypriot economy faced from 2009 to 2014, indicating that “that’s just a history of the past” and that today, Cyprus is one of the fastest growing economies in the EU.
Moving on, Cyprus is enjoying a revival, which is offering business and investment opportunities in all sectors and he noted that by the end of the year and after 5 consecutive years of the economic upturn, it will have added almost 19% to its Gross Domestic Product.
“We have covered the lost ground and we expect the growth rate to remain above 3% annually for at least the next 3 years”, he added.
The Minister of Finance mentioned the government’s actions for turning around the economic state and addressing the challenges in the economy, emphasizing that there is currently a fiscal surplus of 3% of GDP.
He added that we have to maintain this stable financial performance, “because the public debt is admittedly high, as a result of the rescue of the banking system but also of the excessive deficits of the past”.
Among other things, he talked about the fiscal incentives that the Government has adopted over the last year and a half, which, as he said, include measures to encourage Research and Innovation, capital formation and the film industry, as well as loan restructuring measures.
The Minister of Finance noted that all key sectors of the Cypriot economy, such as tourism, shipping, real estate and services are doing very well and that “the production base of the economy is gradually expanding into new territories that include Higher Education, Research and Innovation, natural gas, Renewable Energy Sources and the management of investment funds”.
“It is the government’s job to create conditions of stability and confidence to create a business-friendly environment, allowing the productive forces of the economy, effectively allowing the private sector, to do its job”, he said, adding that “that’s what makes the economic growth sustainable”.
At the same time, Haris Georgiadis noted that the Government is watching the developments in the region, the EE and the world, expressing his concerns about the growing volatility and the growing tensions concerning the world trade and the stand that the free market and the multilateral cooperation must continue to define global relations.
Furthermore, he said that the Government is following closely the Brexit developments and expressed his hope that this would happen on the basis of the EU’s agreement with the United Kingdom, while he pointed out that, otherwise, “we are not panicking since the comparative advantages of the small open economy of Cyprus can mitigate any possible negative effects”.
Conclusively, he reassured the foreign businessmen and investors that the Government remains committed to maintaining the fiscal discipline, but also to continuing to pursue an ambitious reform agenda in order to reinforce our competitiveness and the prospects of our economy.
“This is also my message to you. You must feel secure, welcome and seek the business and investment opportunities that Cyprus has to offer you”, he added.
For his part, the Director of Invest Cyprus, Michalis Michail, welcomed the fact that for the fourth year the conference gathers the interest of investors and businessmen from various sectors, who have the opportunity to see up close the investment-friendly economic environment of Cyprus.
Source: CNA (Cyprus News Agency)
На конгрессе BEST INVEST, который прошел в Лимассоле 13-14 мая, встретились десятки профессиональных и частных инвесторов и предпринимателей, которые основными направлениями инвестиций рассматривают Кипр. Для того, чтобы дать более детальное представление о ситуации в разных странах мира и о перспективах развития мировой экономики, в рамках BEST INVEST был дан экономический прогноз с фокусом на Кипр и страны, которые конкурируют с Кипром в плане привлечения иностранных инвестиций.
Панельная дискуссия, проходившая в рамках первого пленарного заседания, предоставила возможность каждому участнику высказать своё мнение о будущем Кипра и о его привлекательности на инвестиционном рынке.
Филипп Аммерман, управляющий партнер Navigator Consulting Group, рассмотрел результаты усилий по продвижению Кипра как инвестиционного направления, перспективные секторы экономики страны, риски и пути их нейтрализации.
Яннис Мисирлис, директор и основатель Imperio Group, сообщил, что многие инвесторы проявляют огромный интерес к Кипру, хотя совсем недавно на этом рынке лидировали ОАЭ. Особую привлекательность инвесторы видят в программе получения гражданства Кипра в обмен на инвестиции. В туристическом секторе также наблюдается резкий рост — только по данным системы Аirbnb в 2018 году около 125 тысяч человек посетили Кипр, используя этот портал бронирования.
К беседе присоединился Артём Палеев, управляющий партнёр компании Korpus Prava, отметив, что именно банковский сектор доставляет много неудобств бизнесменам и инвесторам. Например, сегодня гражданину России практически невозможно открыть банковский счёт на Кипре, не являясь резидентом страны. Этим Кипр стал похож на Сингапур, но, в отличие от азиатского города, остров в Средиземноморье ещё не на пике своей инвестиционной привлекательности.
Основатель и генеральный директор Esquire Group Джимми Секстон подтвердил, что инвесторы предпочитают сегодня Кипр Объединённым Арабским Эмиратам. Правовые рамки в стране — одни из лучших в Европе. Именно юрисдикция ЕС так привлекательна для вливания капиталов. Это несомненный плюс Кипра. Однако необходимо поработать над репутацией острова, чтобы он больше не ассоциировался с отмыванием денег и нелегальными транзакциями.
Аджай Гойал, венчурный инвестор из Индии, добавил, что Кипр достигнет уровня Гонконга и Дубая только тогда, когда все бизнес-процессы будут переведены в режим онлайн. Полная прозрачность и квалифицированные системы электронного правительства способны поставить Кипр в один ряд с высокотехнологичными странами мира.
Инвесторы разных стран мира видят будущее Кипра привлекательным для капиталовложений. Имея огромный потенциал, отличное местоположение, возможности для новых стратегических проектов и запасы природных ресурсов, Кипр способен превратиться в один из мировых финансовых и бизнес-центров.
Александра ПОЛЯКОВА
Source: VK Cyprus
Growth decelerated to 3.4% in year-on-year terms in the first quarter of the year, down somewhat from the previous quarter’s 3.8%.
Outstanding a breakdown by components, the accompanying press release points out that growth was mainly supported by the following sectors: hotels and restaurants, retail and wholesale trade, construction, and manufacturing.
In seasonally-adjusted quarter-on-quarter terms, the economy increased 0.9% in the first quarter, matching Q4’s expansion.
More detailed national accounts data will be released on 7 June.
Growth is expected to moderate this year, as debt repayment restrains consumer spending, although should remain solid nonetheless. Particularly, healthy wage and job gains should cushion the slowdown, while buoyant construction activity will fuel a strong rebound in fixed investment. Downside risks to the outlook include a disorderly Brexit, a banking system burdened by non-performing loans and large stocks of private and public debt.
FocusEconomics panelists expect GDP to increase 3.1% in 2019, which is unchanged from last month’s forecast, and 2.6% in 2020.
Author: Massimo Bassetti, Economist
* NOTE: All the tributes of All About Limassol (as the Official Guide of Limassol) aim to ONLY highlight the special aspects of this wonderful city, so that everyone can be aware of the exceptional options they offer. Under no circumstances do they have any promotional or nominal value, and they do not serve the interests of Companies, Municipalities, Organizations or Individuals.
Limassol is evolving into a top seafaring destination, and the recent international distinction awarded to the Limassol Marina, ranking it among the top 5 marinas worldwide, is a testament to this.
The ‘5 Gold Anchor Platinum’ Award, which was announced during the opening ceremony of the Limassol Boat Show 2019, is the highest distinction awarded to marinas, and it is based on 89 separate criteria that act as indicators of excellence of the marina’s customer services and facilities. This global scheme, which is jointly administered by the UK’s The Yacht Harbour Association and Australia’s Marina Industries Association (MIA), aims at raising quality standards in marinas across the world.
With a particular focus on the facilities, customer service and infrastructure offered by each marina, this scheme helps customers in the evaluation and selection of marinas that are best aligned to their needs, while at the same time contributing to continuous business improvement.
The award acts as proof of the Limassol Marina’s unparalleled concierge services and its continuous commitment to maintain its facilities and services to the highest standards. As the Limassol Marina is the ultimate ambassador of the Cypriot yachting industry abroad, this award serves to strengthen the image of the island worldwide. It is worth noting that the Limassol Marina has previously received major awards and distinctions, such as the ‘5 Gold Anchor’ and ‘Blue Flag’ awards, which reflect its commitment to the protection of the environment and best practices.
Source: All About Limassol
Ο Αναπληρωτής Πρόεδρος του Παγκύπριου Συνδέσμου Επαγγελματιών Ανάπτυξης Γης μιλούσε στο συνέδριο Economist New York.
Στην αγορά ακινήτων της Κύπρου αναφέρθηκε από το βήμα του συνεδρίου του Economist στη Νέα Υόρκη, ο διευθυντής του ομίλου Imperio Γιάννης Μισιρλής, τονίζοντας πως βρίσκεται σε στάδιο ανάκαμψης, μετά την κρίση του 2013 και πως με τους σημερινούς σταθερούς οικονομικούς δείκτες της οικονομίας αλλά και τα θετικά ιστορικά δεδομένα, η αγορά ακινήτων της χώρας στηρίζεται, αυτήν την στιγμή, σε πολύ σταθερά και υγιή θεμέλια.
Αναφερόμενος στους φόβους μιας νέας ύφεσης σε παγκόσμια κλίμακα, ο κύριος Μισιρλής, δήλωσε πως οι μηδενικές αποδόσεις των ευρωπαϊκών κυβερνητικών ομολόγων, όπως της Γερμανίας, και η αβεβαιότητα του Brexit οδηγούν τους λιγότερο ριψοκίνδυνους επενδυτές να επενδύουν σε ακίνητα μίας από τις ταχύτερα αναπτυσσόμενες οικονομίες της Ευρώπης, η οποία αυτήν τη στιγμή, βλέπει τους περισσότερους δείκτες της αγοράς στο πράσινο.
«Το κανονικό μέγεθος της αγοράς κατά τη δεκαετία που προηγήθηκε της παγκόσμιας χρηματοπιστωτικής κρίσης (1999-2007) ήταν 13,000 ετήσιες συναλλαγές. Έτσι, υπάρχει πολύς δρόμος ακόμα από τις 9,200 συναλλαγές που έγιναν πέρυσι.», σημείωσε χαρακτηριστικά ο διευθυντής της Imperio, συμπληρώνοντας, παράλληλα, πως οι θεμελιώδεις αρχές και οι δυνάμεις της αγοράς δημιούργησαν μερικές πολύ συναρπαστικές ευκαιρίες στην αγορά ακινήτων που προορίζονται για ενοικίαση.
Επίσης, ο κύριος Μισιρλής, στάθηκε στο γεγονός πως τα έργα που σχετίζονται με τον τουρισμό και τις φοιτητικές εστίες βλέπουν μεγάλο ενδιαφέρον από διεθνείς και θεσμικούς επενδυτές. Τέλος, ο Αναπληρωτής Πρόεδρος του Παγκύπριου Συνδέσμου Επαγγελματιών Ανάπτυξης Γης, κύριος Μισιρλής, εξέφρασε τη βεβαιότητά του πως το Brexit δημιουργεί μια σειρά ευκαιριών, κυρίως οδηγώντας διεθνείς επενδυτές ακινήτων μακριά από το Λονδίνο και περισσότερο προς στην Κύπρο.
Source: Kathimerini
Barbican Heights is an ideal home for those who enjoy the finer things in life, and for buyers seeking a promising property for investment in a desirable location.
The development’s contemporary design combines refined architecture and materials of exceptional quality to deliver homes that balance sophisticated style with everyday functionality, all enhanced with amazing panoramic views of Limassol and the Mediterranean Sea.
Set in a beautiful environment, Barbican Heights comprises 20 three-bedroom apartments with large covered and uncovered verandas overlooking the landscaped gardens and communal swimming pool. By capturing a distinct dimension of luxury rarely associated with city life, Barbican Heights is destined to be a residential development that offers its owners the best of urban living in Limassol.
Occupancy: 03/2021
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Levante Residences establishes the standard for luxury living with its striking interiors, fitting location and impressive communal services. Being located within walking distance of the Mediterranean Sea, Levante Residences finds itself conveniently located nearby a wide range of amenities such as coffee shops, luxury boutique stores, gourmet restaurants and sandy beaches.
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