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Cyprus Sets €500 Million Transport Plan For 2025

by THEFUTURE.TEAM

March 18, 2026

Strategic Vision For 2025

Cyprus Ministry of Transport, Communications and Works outlined its policy and project roadmap for 2025 under Minister Alexis Vafeadis. The plan focuses on electric mobility, road infrastructure and upgrades across ports, airports and public transport systems.

Four Pillars Of Progress

The strategy is based on four priorities: improving travel times, supporting the green transition, upgrading infrastructure and enhancing public services. These areas form the framework for transport policy development in 2025.

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Electric Mobility: Powering A Greener Future

Vafeadis said the transition to electric vehicles remains a key priority. Despite a narrowing price gap with conventional vehicles, government incentives are still required to support adoption. A new grant scheme is being prepared through 2030, with annual subsidies planned. Around 2,500 grants worth €21.5 million were issued in 2025, contributing to a target of 85,000 electric vehicles on Cyprus roads by 2030.

Infrastructure Investments And Major Projects

Several infrastructure projects are under review, including those linked to the Recovery and Resilience Plan. The Pafos–Chrysochous road project remains under reassessment following issues with a previous contractor. A new tender process is underway for a four-lane motorway connecting Stroumbi to Chrysochous, aimed at improving regional connectivity and road safety.

Ports, Marinas, And Airports: Catalysts For Economic Growth

Projects in the maritime and aviation sectors are also progressing. The Larnaca marina development is being reassessed following delays linked to weather conditions. Revenue from the Limassol port concession reached about €60 million in 2025, supported by increased container traffic. Passenger numbers in Cyprus reached 13.7 million in 2025, prompting expansion plans at Larnaca and Paphos airports and wider connectivity to 41 countries.

Mitigating Urban Congestion And Revitalizing Public Transport

Limassol continues to face traffic congestion, with around 13,000 new vehicle registrations each year. Plans include the Northern Limassol Bypass and additional projects aimed at reducing pressure on urban roads. Public transport recorded 28 million passenger journeys annually. Authorities aim to improve service levels and increase usage over time.

Modernizing Regulatory And Technological Frameworks

Policy measures also address shortages of professional drivers and the rollout of smart traffic systems. Updated photo enforcement systems have contributed to a reduction in traffic violations.

A Bold Investment In The Future

The ministry allocated more than €500 million for transport-related projects in 2025, excluding spending managed by other departments. This funding supports infrastructure upgrades and ongoing development of the transport network.

The Future Forbes Realty Global Properties

Visa Shares Rise 5% After Earnings Beat And Outlook Increase

Visa Inc. reported second-quarter results above expectations, with shares rising about 5% in premarket trading following the release. The company also updated its full-year earnings outlook, supported by continued consumer spending despite broader macroeconomic uncertainty.

Strong Q2 Earnings And Strategic Momentum

Payment volume increased during the quarter, reflecting stable consumer activity. Ryan McInerney, CEO of Visa, said the company is monitoring geopolitical developments, including tensions in the Middle East. At the same time, he noted that changes in travel patterns are being offset by increased demand for travel to the United States. This shift is supported by factors such as major international events, including the FIFA World Cup, as well as stronger commercial travel volumes, which are helping sustain cross-border activity.

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Cross-Border Payments And Market Indicators

Cross-border payment volume rose 12% year-on-year on a constant-dollar basis in the second quarter, compared with 13% growth in the same period last year. Analysts at J.P. Morgan said the data indicate that earlier concerns about a sharper slowdown in cross-border activity have not materialised.

Capital Allocation And Share Buybacks

Visa’s board approved a new $20 billion multi-year share repurchase programme. Chris Suh, Chief Financial Officer, said the company continues to balance investment in growth initiatives with returning capital to shareholders.

Embracing Innovation And Expanding Horizons

Looking ahead, the company is focusing on areas such as artificial intelligence and new commerce models, alongside growth in its marketing services segment. Analysts from TD Cowen and William Blair pointed to multiple sources of growth across Visa’s business.

Market Performance

Visa shares are down about 12% year-to-date in 2026 but remain ahead of peers such as American Express. At the same time, competitors, including Mastercard, also moved higher in early trading following the results.