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Multi-Million Euro Deal In Paphos: Old American Academy Transformed Into British-Owned Educational Institution

In a significant development for Cyprus’ educational landscape, the historic American Academy in Paphos has been sold and will be transformed into a British-owned educational institution. This multi-million euro deal marks a pivotal moment for the local education sector, promising to elevate the standards and reputation of Paphos as a hub for high-quality international education.

The American Academy, a landmark institution in Paphos, has long been revered for its commitment to academic excellence and community service. Its transformation under British ownership is set to introduce a new era of educational innovation and international collaboration. The acquisition by British interests underscores the growing appeal of Cyprus as a destination for international education investment, driven by its strategic location, favourable climate, and robust educational framework.

The new British educational institution will benefit from substantial investments aimed at upgrading and expanding the existing infrastructure. These enhancements will include state-of-the-art classrooms, modern science laboratories, advanced sports facilities, and comprehensive digital learning environments. The focus will be on creating a holistic educational experience that combines academic rigour with extracurricular development, ensuring that students are well-prepared for the challenges of the globalised world.

The institution will offer a diverse curriculum designed to meet international standards, providing students with opportunities to pursue the International Baccalaureate (IB), A-Levels, and other globally recognised qualifications. This curriculum will not only attract local students but also appeal to the expatriate community and international students seeking high-quality education in a supportive and multicultural environment.

One of the key aspects of this transformation is the emphasis on fostering strong ties between the educational institution and the local community. The British owners are committed to maintaining the legacy of the American Academy by continuing its tradition of community engagement and social responsibility. This includes partnerships with local businesses, cultural organisations, and government bodies to promote educational initiatives and community development projects.

The investment in the Paphos educational sector is expected to have a broader economic impact, generating employment opportunities for local educators, administrative staff, and support services. It will also attract families and professionals to the region, boosting the local economy and contributing to the socio-economic development of Paphos.

Furthermore, the presence of a high-calibre British educational institution in Paphos will enhance the city’s reputation as a centre for academic excellence and innovation. It will draw international attention, positioning Paphos as a competitive destination for educational tourism. This is particularly significant in the context of the global education market, where parents and students are increasingly seeking schools that offer a blend of rigorous academics, cultural exposure, and holistic development.

The transformation of the American Academy into a British-owned institution reflects the broader trends of globalisation and international collaboration in education. It signifies a commitment to providing students with a world-class education that equips them with the skills, knowledge, and values necessary to thrive in a rapidly changing world.

Meridiam Takes Majority Stake In Great Sea Interconnector

French infrastructure investment group Meridiam has officially become the majority shareholder of the Great Sea Interconnector (GSI), marking a significant step forward for the electricity link between Cyprus and Greece.

The agreement was signed on Wednesday at Greece’s Maximos Mansion in the presence of Prime Minister Kyriakos Mitsotakis, who described the project as strategically important for regional energy security and for ending Cyprus’ energy isolation from the European electricity grid.

Mitsotakis also said the deal demonstrates Greece’s ability to attract international investors and pledged continued government support to ensure the project moves forward.

Project Gains New Momentum

Alongside the shareholder agreement, Greece’s Independent Power Transmission Operator (IPTO), GSI and French cable manufacturer Nexans signed a separate agreement covering seabed survey work, one of the next stages in the project’s development.

Greek officials said Meridiam’s entry strengthens the project’s financial position and credibility, creating better conditions to accelerate construction. IPTO will remain a strategic shareholder, retain technical responsibility for the project and operate the interconnector once it is completed.

The European Investment Bank is also assessing potential financing, while IPTO is preparing to submit a cost-benefit study for the planned Cyprus-Israel electricity interconnection to regulators in Cyprus and Israel.

Long-Term Infrastructure Investor

Founded in 2005 and headquartered in Paris, Meridiam specialises in financing, developing and managing long-term infrastructure projects. Its portfolio includes more than 130 projects across Europe, North America, the Middle East and Africa, spanning sectors such as transport, energy and water infrastructure.

Among its flagship investments are the NeuConnect electricity interconnector between the UK and Germany, Sofia Airport in Bulgaria and the Florence tram network in Italy.

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