There are indications that two major projects that will put their stamp on the development identity of Limassol for the coming years, may be moving ahead. Speaking to "Entrepreneurial Limassol", Limassol Chamber President Andreas Tsouloftas, stressed that after years of stagnation, the creation of the technology park in Pentakomo is hopefully entering a course of implementation. In a recent meeting with the Minister of Commerce and the Deputy Minister of Innovation, a Chamber delegation stressed on the incentives that must be given for the project to get off the ground. The Chamber position is that the state should undertake the preparation of the master plan and the creation of infrastructure projects, which, according to the terms included in the previous public call of interest in 2016, burdened the strategic investor. The time-consuming bureaucratic and other procedures that would be required, according to Mr. Tsouloftas, discouraged those interested and contributed to the then failure of the whole venture. Already two groups of reputable investors, said Mr. Tsouloftas, have expressed interest in taking over the management of the park in the form of a lease. The Chamber President underlined that this time the procedures must be launched immediately, as the attracting organizations active in the fields of research, innovation and high technology, is what the future of the Cyprus economy should be based on. Developments are expected soon for the Carnagio Area Plan between the marina and the port, where Limassol aims to develop its new seaside financial centre. The proposals of the Urban Planning Council will be presented to the Council of Ministers for final approval and the decision will be published in the official gazette of the Government, to close this long-pending issue, which will give impetus to investment interest for the area. The provisions of the Plan to be announced, provide for an increase in building coefficients, facilitating the construction of multi-story office and residential blocs but also to ensure more open spaces. Incentives for the reuse of listed industrial buildings and commercial development along Franklin Roosevelt Avenue will also be included. Aktaia Odos, the southern parallel of Franklin Roosevelt Ave, will be a sea side road, with two lanes, with sidewalks and bike paths.

The Chamber position is that the state should undertake the preparation of the master plan and the creation of infrastructure projects, which, according to the terms included in the previous public call of interest in 2016, burdened the strategic investor. The time-consuming bureaucratic and other procedures that would be required, according to Mr. Tsouloftas, discouraged those interested and contributed to the then failure of the whole venture.

Already two groups of reputable investors, said Mr. Tsouloftas, have expressed interest in taking over the management of the park in the form of a lease. The Chamber President underlined that this time the procedures must be launched immediately, as the attracting organizations active in the fields of research, innovation and high technology, is what the future of the Cyprus economy should be based on.

Developments are expected soon for the Carnagio Area Plan between the marina and the port, where Limassol aims to develop its new seaside financial centre. The proposals of the Urban Planning Council will be presented to the Council of Ministers for final approval and the decision will be published in the official gazette of the Government, to close this long-pending issue, which will give impetus to investment interest for the area.

The provisions of the Plan to be announced, provide for an increase in building coefficients, facilitating the construction of multi-story office and residential blocs but also to ensure more open spaces. Incentives for the reuse of listed industrial buildings and commercial development along Franklin Roosevelt Avenue will also be included. Aktaia Odos, the southern parallel of Franklin Roosevelt Ave, will be a sea side road, with two lanes, with sidewalks and bike paths.