Paphos:President Nikos Christodoulides has unveiled plans for major infrastructure and urban upgrading projects worth €3.5 billion set to commence on January 1, 2028. These investments will focus on both the Paphos district and broader areas across Cyprus.

According to Cyprus News Agency, President Christodoulides made the announcement during the inauguration ceremony of the central core regeneration project in Koili Community, Paphos district. He highlighted the completion of the Geroskipou project, valued at €3.4 million, and mentioned ongoing urban development in Kouklia, Pegeia, and Latsi within the district.

The President detailed that the interventions in the Paphos district alone will account for approximately €75 million. Furthermore, he outlined the government's comprehensive development plan, which anticipates approval of the €3.5 billion projects by September 2027 and the start of implementation at the beginning of 2028. The funding will include €2.5 billion from European sources and €1 billion from national resources.

During his address, President Christodoulides emphasized the government's commitment to economic growth by effectively converting available resources into modern infrastructure, improved public spaces, and enhanced quality of life for citizens. He also recalled a 2025 meeting with local stakeholders where over 75 projects, exceeding €230 million, were proposed to address key needs in infrastructure, road safety, sustainable mobility, and environmental and local development.

The President also visited the Pafos II Industrial Area and the Carpentry Factory, where he stressed the government's goal to revitalize and strengthen the facility, boost exports, and improve the trade balance. He highlighted the importance of new investments and modern technology, underscoring the continued relevance of wood as a critical raw material. An official press release noted that tax reforms are aimed at supporting Cypriot businesses and promoting reinvestment in the local economy.