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30 Key Projects To Transform Famagusta With €122 Million Investment

by THEFUTURE.TEAM

February 14, 2025

President Nikos Christodoulides has announced a €122 million investment across 30 projects aimed at revitalizing the free areas of Famagusta. Speaking at a regional gathering in Paralimni on 13 February, he outlined the government’s vision to enhance infrastructure, boost tourism, and improve the overall quality of life for residents.

Joined by members of the Council of Ministers and state officials, the President emphasized Famagusta’s vital role in Cyprus’ economy, particularly in tourism and the primary sector. The projects include major road network upgrades, the development of urban and linear parks, and enhancements to tourism infrastructure.

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Key initiatives also focus on modernizing sports centers and expediting critical projects like the completion of the Fishing Shelter at Liopetri River. The comprehensive plan spans multiple sectors, including urban regeneration, business and tourism, education, and social welfare.

Calling for close cooperation between local authorities and stakeholders, Christodoulides urged collective efforts to fast-track these development initiatives and unlock the district’s full potential.

Planned projects

Road Network Improvement and Urban Regeneration Projects

Improvement of the Main Road in Avgorou on Karyon Avenue – €9 million
Construction of a Multi-Storey Parking Lot in Paralimni – €8 million
Improvement and Upgrading of Ayia Napa’s Beachfront – €3.6 million
Road Improvement Connecting Vrysoudion Street with Pinia Street – €4 million
Construction of a Road from the Agios Panteleimonas Roundabout to the Church of Agia Varvara – €5 million
Regulatory Plans for the 2nd Phase of the Improvements of Stadias Street, Giakoumi Papadopoulos Street, and Korai Street in Paralimni – €14 million
4th Phase of the Protaras Coastal Promenade – €18 million
Redevelopment of the Traditional Core of Frenaros – €1.3 million
Redevelopment of Paralimni Square – €11.2 million
Creation of an Urban Multifunctional Park in Ayia Napa – €5 million
Creation of a Linear Park in Aheritou – €1 million

Economy / Business / Tourism

Incentive Plan in Catering – €700 thousand
Plan for Enrichment Projects for Local Government Authorities – €300 thousand
Creation of a Craft Area in Dasaki Achna – €250 thousand

Education

Upgrading of Building Infrastructure of Paralimni High School – €5.5 million
Construction of a New Paralimni High School – €15 million
Operation of the School of Tourism Studies within the Framework of the MIEEK

Social Welfare

Model Autism Center of Famagusta District – €4 million
Expansion and Upgrading of the Nursery and Children’s Activity Center in Avgorou
Additional Projects in the Region’s SKE – €140 thousand
Intensive Daily Addiction Treatment Program – €1.5 million

Culture

Transformation of the Ayia Napa Monastery into a Museum and Creation of a Research Center, Library, and Conference Rooms – €2.3 million
Cultural and Conference Center Hall in the Municipality of Deryneia – €5 million
Open-air Amphitheater in Avgorou – €1.5 million

Sport

Upgrade: Sotiras Sports Center, Frenaros Sports Center, Liopetri Sports Center – €2 million
Construction of a Public Sports Area in Achna – €2 million

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EU Farm Output Prices Decline For The First Time In Nine Months

by THEFUTURE.TEAM

March 12, 2026

EU Market Adjustments Signal New Price Trends

Agricultural output prices across the European Union declined in the fourth quarter of 2025, marking a shift after several quarters of increases. Data from Eurostat shows that farm gate prices fell by 1.9% compared with the same period in 2024.

Crisis of Declining Prices In Select Markets

Cyprus recorded one of the more notable decreases in agricultural input costs among EU member states, with prices falling by 2.6% compared with Q4 2024. The reduction eased cost pressures for the local agricultural sector following periods of higher prices earlier in 2025. Across the EU, prices for goods and services consumed in agriculture remained relatively stable. Non-investment inputs such as energy, fertilisers and feedingstuffs showed limited overall changes during the quarter.

Country-Specific Divergence In Price Movements

Eurostat data highlights considerable variation across member states. Fifteen EU countries recorded declines in agricultural output prices. Belgium registered the largest decrease at 12.9%, followed by Lithuania (8.2%) and Germany (6.0%). At the same time, twelve countries reported increases in output prices. Ireland recorded the strongest rise at 6.8%, followed by Slovenia (5.6%) and Malta (4.2%).

Stability In Agricultural Inputs Amid Commodity Shifts

Agricultural input prices also showed mixed developments. Eleven member states recorded declines, including Cyprus (2.6%), Belgium (2.1%) and Sweden (2.0%). Other countries experienced moderate increases, including Lithuania (4.2%), Ireland (3.3%) and Romania (2.5%). Among major agricultural commodities, milk prices declined by 4.1% while cereal prices fell by 8.9% across the EU. In contrast, fertilisers and soil improvers increased by 7.9%, reflecting continued volatility in input markets.

Outlook For EU Agriculture

The latest Eurostat data points to uneven price developments across the EU agricultural sector. While input prices remained broadly stable in many markets, movements in output prices varied significantly between member states. These trends highlight the need for farmers and policymakers to adapt to shifting commodity prices and changing cost structures across the European agricultural market.