Andreas Demetriades will continue to lead the Cyprus Association of Large Investment Projects, following a decision made at the annual general assembly on Wednesday, which was held in Nicosia, in the presence of the President, Nicos Nicolaides.
According to a press release from the association, the newly appointed board of directors includes Menelaos Shacolas as Vice President, alongside members Theodoros Aristodemou, George Leptos, Michalis Zavos, Elias Eliades, Christos Christou, Nicolas Lanitis, and Evagoras Lanitis.
The president of the Cyprus Chamber of Commerce and Industry (Keve) Stavros Stavrou, emphasised the significant contributions of large developments in modernising cities, enriching the tourism industry, and overall, redefining the national landscape.
“It is imperative that the government and private players jointly take initiatives to fully reactivate the large developments sector”, he said.
This year’s general assembly also marks a decade since the foundation of the Large Developers Association, an occasion noted by Demetriades as a significant milestone.
He detailed the association’s mission and the scope of its 16 registered members, which includes 19 projects valued at a total of €8 billion.
Moreover, Demetriades reviewed the association’s broad and influential role as a vital developmental entity within the country, aiming to establish Cyprus as a regional hub for business and high-quality healthcare services.
He also stressed the necessity for the country to “formulate a comprehensive strategy to increase productive foreign investment” to harness the potential of sectors like higher education, research, new technologies, and IT, along with digital and green skills.
“Key to this effort is the strategic partnership and coordination between the state and business so that we work collectively to create a new modern growth model, which will aim at increased investment, enhanced international competitiveness, resilience and adaptability of the economy, extroversion, innovation and ensuring environmental and social sustainability,” Demetriades concluded.
