Maispa Developers recognize and agree with the Pan Cyprian Association of Land and Building Developers to be careful and responsibly manage the naturalization plan through investment which has proved to be a Significant contribution in the recovery of the Cypriot economy
The Pan Cyprian Association of Land and Building Developers (member of OEB) considers that the contribution of the naturalization plan through investment to the recovery of the Cypriot economy has been catalytic. Therefore, it supports the very careful management and visibility of the project, away from exaggerations and actions that may expose Cyprus and adversely affect our country’s promotion as an attractive but primarily credible investment destination.
The Association welcomes the stricter regulations for project management approved by the Cabinet and the efforts of the Government and other stakeholders, such as CIPA, to limit aggressive advertising and/or investor misinformation.
The plan must be protected because it is an important incentive to attract foreign investment and has contributed to the dynamic reactivation of the construction sector and to the creation of skilled jobs. The construction industry and, more broadly, the country’s land development sector contribute substantially to Cypriot GDP, about 17% per annum.