By the end of summer 2016 WTC Cyprus will move its headquarters to the new building at Limassol. The director of World Trade Center Cyprus, Mehran Eftekhar explains that the company hopes that the building will be one of many WTC buildings we acquire in other cities in Cyprus.

When will WTC transfer its headquarters to the Limassol World Trade Center Cyprus? Why have you taken this decision?

World Trade Center Cyprus office operations will move to the new building by the end of summer 2016. 

It makes sense for our WTC operations to move to the building that carries its name for two important reasons.  Firstly, we like to be close to our tenants in the business centre in order to serve them more effectively.  Secondly, we hope that this new building will be one of many WTC buildings we acquire in other cities in Cyprus where each building will be a landmark that signals the partnership between the World Trade Centers Association and the business community of Cyprus which will enhance the reputation of both. 

What facilities will the building provide?

The WTC Cyprus building will offer flexible business serviced offices for self-employed professionals, start-up companies as well as newly formed international businesses such as oil and gas exploration companies, logistics organizations as well as financial institutions.

The building will also offer rentable space for premium, high profile tenants as well as access to reciprocal “WTC” facilities and international business services worldwide.

It will cater for the needs of the modern business with the latest safety and security specifications as well as state of the art technological facilities.

Further, the building will be utilised as a focal point for business consultancy and information, trade missions, B2B matchmaking, trade education, club services and exhibition services.

As of today, the two top floors will soon be occupied by Trust International Insurance & Re-Insurance Company Bahrain (Trust Re) Cyprus Branch.

How do you assess the company's presence in Cyprus and which is the relationship with its parent company Nest Investments Holdings?

World Trade Center is a highly recognised worldwide brand and we believe that WTC Cyprus will enhance the success of the local business community by facilitating more effective trade and business services internationally.

WTC Cyprus is a member of the international World Trade Centers Association, which has over 330 member cities in over 90 countries where we promote our country as a business hub at a variety of international events

Our motive is to support the Cyprus economy at all times, especially during challenging times such as the financial crisis of 2013. Promoting Cypriot products and services will not only boost the economy, but will attract inward investments and create new opportunities.

For example, 3 years ago WTC Cyprus partnered with a number of prestigious companies and organisations and came up with a unique idea to showcase Cyprus’ reputation of being a country rich in heritage, creativity, expertise and unique products and services.

We introduced the “Made in Cyprus” Exhibition of Products & Services that represent the best Cyprus can offer from professional services to manufacturing.  The Exhibition is now a permanent annual event with increasing popularity by exhibitors and visitors alike.  The “Made in Cyprus” concept is now being evolved as a roadshow where we take Cypriot companies to other  countries to participate in international events.

Nest Investments (Holdings) Limited (www.nestco.org) is a privately owned company, registered in Jersey and headquartered in Limassol Cyprus since 1995.  The company owns diverse business interests in the MENA Region including insurance, reinsurance, banking, property development and licenced business services operations such as World Trade Centers Holdings (Cyprus) Ltd. World Trade Centers (Holdings) Cyprus Ltd (http://www.wtchcy.org) was created as the holding company for the Group’s 16 World Trade Center licensed operations in the MENA region and beyond to Perth, Australia.

Nest Investments Holdings provides support to its companies and subsidiaries including WTC Cyprus in the Corporate Services areas such as Finance, Human Resources, Information Technology, Legal, Corporate Governance & Strategy, Internal Audit, Compliance and Risk Management.

We are proud of the fact that the Nest Group Chairman / CEO Mr. Ghazi Abunahl has been the Chairman of WTCA for the last 8 years.  3 years ago, I was elected to serve on the main board of WTCA representing both WTC Cyprus and the MENA Region.  One of my primary responsibilities is to Chair the Board’s Audit & Risk Committee.

Do you see any prospects for further growth in the domestic market or/and especially in Limassol?

Cyprus is emerging from a prolonged recession. Nevertheless, the economy will continue to face challenges by a variety of external and internal factors.

Cyprus' status as a small, open economy leaves it vulnerable to external risks, particularly from key trading partners such as Russia and Greece who are experiencing severe economic challenges of their own.

The authorities are hopeful that improvements in the functioning of economy, while implementing initiatives to encourage research and innovation to facilitate the restructuring of production towards more innovation-driven manufacturing and services. These measures will enhance competitiveness as improving income catches up with Eurozone average levels.

Further, there are initiatives to promote health tourism in Cyprus that will attract both inward investment as well as increase in increase in people seeking medical and convalescence services. As for Limassol, the city seems to be performing well in the tourism sector and hopefully with more projects planned for implementation such as the Casino and a multi-purpose Conference & Exhibition Center will boost domestic growth.