Breaking news

Eurobank Considers Opening Representative Office In Tel Aviv

by THEFUTURE.TEAM

October 21, 2026

Eurobank is considering opening a representative office in Tel Aviv to strengthen its support for Israeli businesses and investors seeking opportunities in European markets, as Cyprus continues to develop its role as a regional business and investment hub.

The possibility was raised at the 8th Cyprus-Israel Business & Investment Summit, held in Tel Aviv this week with Eurobank’s participation and support. The event brought together entrepreneurs, investors and institutional representatives from both countries to discuss cooperation across trade, investment, energy, tourism, services, technology and innovation.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Strengthening Cyprus-Israel Economic Ties

Eurobank Deputy CEO Andreas Petsas attended the summit, while Senior General Manager Stefanos Kassianides addressed participants on the strategic importance of closer economic ties between Cyprus and Israel.

Kassianides said the countries could use their complementary strengths to serve as a bridge between Europe and the wider region. He also highlighted opportunities for businesses, investors and financial institutions arising from stronger regional connectivity and initiatives such as the India-Middle East-Europe Economic Corridor (IMEC).

“The business relationship between Cyprus and Israel has strengthened significantly in recent years, based not only on the geographical proximity of the two countries but also on the strong economic, commercial and institutional ties that connect them,” Kassianides said.

He added that “the complementary strengths of the two economies create strong prospects for even closer cooperation between their business communities, while Cyprus serves as a natural gateway to the European Union and the wider region.”

Eurobank Explores Expansion In Israel

Against this backdrop, Kassianides outlined Eurobank Group’s international presence and expansion strategy, confirming that the bank is exploring the possibility of establishing a representative office in Tel Aviv.

The office could strengthen Eurobank’s ability to support Israeli companies and investors pursuing international growth, particularly their expansion into European markets.

Cyprus Highlights Its Financial Services Sector

Cyprus’ banking and investment sector was another focus of the summit. Panayiotis Chrysostomou, Eurobank’s manager of banking services and representative offices, took part in a panel discussion on the country’s financial services landscape.

Chrysostomou highlighted Cyprus’ advantages and the role of its financial institutions in supporting Israeli businesses and investors entering European markets.

“The role played by Cyprus’ financial institutions and banks, as stable and financially sound partners of Israeli businesses and investors, is of central importance to successfully capitalising on the prospects arising from their expansion into the European Union market, as well as the opportunities within the broader economic corridor connecting Asia and the Middle East with Europe, through Israel, Cyprus and Greece,” he said.

Supporting Diplomatic And Business Relations

Eurobank also supported a reception hosted by Cyprus’ ambassador to Israel, Cornelius Corneliou, marking the 66th anniversary of the independence of the Republic of Cyprus.

The bank said its participation reflected its continued commitment to strengthening ties between the Cypriot business community and international investment institutions.

The Future Forbes Realty Global Properties

€50 Million Luxury Resort Planned For Ayia Napa

by THEFUTURE.TEAM

October 22, 2026

Ayia Napa could strengthen its position in the premium tourism market with a proposed €50 million mixed-use resort combining a hotel, serviced apartments, luxury bungalows and a beach club.

Aesara Investments Ltd has submitted an information form to the Department of Environment for a development to operate under the name Atlantica Wavemaster Hospitality. The project is planned for the Limnara area of Ayia Napa, along the coast south of Kryou Nerou Avenue, between the town centre and Cape Greco.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Hotel, Apartments And Luxury Bungalows

The proposed resort will include a 324-room hotel with capacity for 648 guests, alongside a condo-hotel building containing 20 one- and two-bedroom apartments. Facilities are planned to include restaurants, bars, cafés, a spa with an indoor pool, a gym, shops, a multipurpose hall, a children’s club and a cinema.

A further 33 three-level luxury bungalows, each designed for two guests and featuring a private swimming pool, are planned for the southern part of the site. A beach club with a restaurant and an outdoor pool complex covering more than 6,300 square metres will also form part of the development.

The project includes 321 parking spaces, including 12 for people with disabilities, and 14,196 square metres of landscaped green space featuring local plant species.

Seasonal Hotel Operations And Year-Round Residences

The hotel is expected to operate from March to November, with peak occupancy during the summer season. The condo-hotel apartments, meanwhile, will be available for sale or long-term rental and intended for year-round residence. Owners and tenants will also have access to the resort’s facilities, including its pools, restaurants and fitness areas.

Construction is expected to take 24 months once the required permits are secured. At the busiest stage, the project could employ around 100 workers per day.

Environmental Restrictions Near Cape Greco

The site’s proximity to protected Natura 2000 areas has prompted strict environmental requirements. The Cape Greco Special Protection Area borders the site to the south, while a Special Area of Conservation lies approximately 50 metres away.

Conditions imposed by the Department of Environment include a maximum building height of five floors, or 18.5 metres, and restrictions on permanent structures near the coastline. The project must also use spider-web type glazing and low-intensity lighting to minimise disturbance to local birdlife.

According to the project’s consultants, the design has been prepared to comply with the environmental conditions and the final report on cumulative impacts for the Cape Greco Special Protection Area. The hotel and apartment building are positioned in the central and northern parts of the plot, away from the shoreline.

Within the designated no-build zone, located 40 metres from the boundary of the beach protection zone, only swimming pools are planned. The consultants state that these are not expected to affect protected species in the area.