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Cyprus’ Mountain Villages Are Becoming Hotspots For Investors

by News Editor

April 10, 2025

Once overlooked, Cyprus’ mountain villages are now attracting serious investor attention, fueled by the ambitious restoration of the iconic Berengaria Hotel in Prodromos. Developers and international buyers are shifting their focus to Platres, Agros, and Kakopetria, drawn by fresh opportunities in high-altitude hospitality and tourism.Andreas Mandalas, president of the Pasyxe Mountain Resorts Committee, confirms a surge in interest. “The Berengaria project has been a catalyst. Platres and Kakopetria, in particular, are seeing renewed investment,” he told. “Forest Park and Penteli in Platres have been sold, Petit Palais has been renovated, and Nea Elvetia is undergoing restoration. Investors are now eyeing Kakopetria as a fully-fledged tourist destination.”

The Berengaria redevelopment is spearheaded by real estate firm BBF, with Thanos Hotels set to take over management. Andronikos Spyrou, the project’s manager, highlighted the wider potential of the Prodromos area. “We’ve made a significant investment in Berengaria and have already submitted plans for additional projects in the region.”

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A Wave Of Capital Flowing Into Agros and Kakopetria

The investment boom extends beyond Prodromos. In Agros, the historic Rodon Hotel recently changed ownership, with Hong Kong-based investor Balram Chainrai acquiring an 87.85% stake following a public takeover bid. Meanwhile, Kakopetria is actively courting investors to revive dormant hotel properties.

“We’re looking for investors to breathe new life into hotels that have been inactive for years,” said Iakovos Papaphilippou, president of the Kakopetria community council. Property sales in the area are picking up, and infrastructure improvements are adding to the region’s appeal. “The Astromeritis–Evrychou road will be completed this year, and the Kokkinotrimithia–Astromeritis road is set for completion by 2029. These projects will unlock further investment potential.”

A €100M Development Pipeline In Platres

Pano Platres is another village transforming, with projects worth over €100 million in progress. According to Dimitris Papatheodotou, secretary of the local community council, demand for land is surging. “Investors need state support to expedite building permits and land divisions. When interest grows, our forested land is preserved rather than left abandoned.”

While tourism is the main economic driver, Papatheodotou stresses the need for year-round livability. “Infrastructure upgrades, an improved Limassol–Platres road, and better educational and childcare facilities will help attract permanent residents and sustain growth.”

Government-Backed Revitalization And Private-Sector Momentum

These developments align with the government’s broader mountain community strategy, aimed at revitalization and improved quality of life. According to a report from the mountain development commissioner, 280 government initiatives are currently being implemented, spanning infrastructure, education, and healthcare.

Roadworks led by the Ministry of Transport are enhancing accessibility, while investments in agriculture, waste management, and fire prevention are strengthening local resilience. But while public funding lays the groundwork, private capital is driving real progress.

“Quality hotels, boutique guesthouses, wineries, and agritourism ventures are not only creating jobs but also reinvigorating the local economy,” the commissioner’s report states.

The Future Of Cyprus’ Mountain Villages: Sustainable, Livable, And Thriving

A key priority is keeping younger generations from migrating to cities. “Supporting youth entrepreneurship and creating new opportunities will be essential to reversing urban sprawl,” the commissioner noted.

With its rich natural beauty and cultural heritage, rural Cyprus holds vast potential for sustainable tourism and local production. “With the right investment and strategic cooperation, these mountain communities can become beacons of sustainable development—offering a high quality of life for residents and unforgettable experiences for visitors.”

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Sklavenitis Cyprus Sets A New Standard For Employee-Centric Benefits

by THEFUTURE.TEAM

September 12, 2025

Investing In Human Capital

In a bold move that underscores the growing importance of human capital in today’s business landscape, Sklavenitis Cyprus has taken innovative steps to ensure its workforce is both valued and supported. The supermarket chain has introduced a policy to pay a 14th salary to all employees—including those from Papantoniou Supermarkets—cementing its status as the sole retailer in Cyprus to implement such a comprehensive benefit.

A Significant Investment In People

This initiative is far from symbolic. With an estimated total cost of €2 million, it represents a committed investment in the company’s most valuable asset—its people. By providing an additional salary, Sklavenitis reinforces a culture of inclusivity and fairness, acknowledging every employee’s contribution to its success.

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Robust Benefits For Long-Term Stability

Complementary to the 14th salary, the company has launched a robust benefits program designed to address both financial and personal security. An Automatic Cost of Living Adjustment (ATA) of 12.56 per cent ensures that wages remain aligned with inflation, safeguarding real income stability for its team members.

Comprehensive Health And Life Support

Sklavenitis further enhances employee welfare through access to a Group Life and Health Insurance Plan and a Provident Fund co-funded by the employer. These measures not only provide immediate protection but also empower employees to plan confidently for the future.

Exclusive Perks And Incentives

The company extends its commitment beyond conventional benefits by offering store discounts, a birth allowance, and holiday gift vouchers valued at €100 during both Easter and Christmas. These additional perks enhance employee satisfaction and underline Sklavenitis’ people-first ethos.

A Strategy For Mutual Success

In an industry where employee engagement directly impacts customer satisfaction, Sklavenitis’ comprehensive approach stands out as both a progressive and strategic business decision. By investing in its workforce, the company not only nurtures a supportive workplace but also drives superior corporate performance, setting a new benchmark for responsible employment practices in Cyprus.