Opens in a new tab

Breaking news

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.

China-Cyprus Trade Rises 26% As Businesses Seek New Opportunities

Trade between China and Cyprus rose 26% year on year to $1.44 billion (€1.29 billion) in 2025, opening further opportunities for cooperation in shipping, tourism, green technology and digital services.

Speaking at a business forum in Nicosia on Tuesday, China’s ambassador to Cyprus, Yang Yundong, said China had become Cyprus’ fourth-largest trading partner. Cypriot products, including halloumi, zivania and fresh juices, are also gaining ground in the Chinese market.

Expanding Bilateral Business Ties

Yang highlighted shipping, tourism, green technologies and the digital economy as promising areas for cooperation, while positioning Cyprus as a potential bridge between China and the European Union.

Organised by the Cyprus Chamber of Commerce and Industry (KEVE), the forum marked 55 years of diplomatic relations between the two countries.

KEVE chairman Stavros Stavrou said the priority was to turn longstanding ties into concrete business partnerships. Cyprus offers Chinese companies access to the EU single market, while China provides opportunities for Cypriot businesses seeking to expand internationally.

Tourism And Technology Drive Opportunities

A forthcoming agreement between Cyprus-based travel agency Top Kinisis and China’s Zhejiang Overseas (Ningbo) International Travel Service illustrates the potential for closer commercial cooperation.

Marios Tannousis, director of Invest Cyprus, identified information and communications technology as a key contributor to the Cypriot economy. The sector generates an estimated €4 billion annually, equivalent to around 15% of GDP.

Tannousis also highlighted Cyprus’ ability to attract foreign direct investment from multiple regions, noting that the country ranks among the world’s top 10 for FDI per capita.

Strengthening Business Connections

Theodoros Parperis, chairman of the Cyprus-China Business Association, called for further expansion of trade and investment. Established in 1995 under the auspices of KEVE and the Chinese embassy in Cyprus, the association now has more than 200 members.

The forum highlighted opportunities to deepen economic ties, with future growth depending on businesses turning market access and shared interests into practical partnerships across key sectors.

eCredo
Aretilaw firm
Uol
The Future Forbes Realty Global Properties

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter