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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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Cyprus Remains Among EU’s Lowest Renewable Electricity Producers

Cyprus remained among the European Union’s weakest performers in renewable energy adoption in 2025, with renewables accounting for 27.5% of gross electricity consumption, according to new data published by Eurostat.

Across the EU, renewable sources supplied 49.9% of gross electricity consumption last year, bringing the bloc close to generating half of its electricity from renewable energy.

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Cyprus Remains Among The EU’s Lowest Performers

Cyprus ranked among the EU countries with the lowest share of renewable electricity, ahead of only Malta at 11.2%, the Czech Republic at 19.2%, Luxembourg at 23.3% and Slovakia at 24.1%.

Across the country’s broader energy system, renewables accounted for 21.5% of gross final energy consumption in 2025.

EU Renewable Electricity Continues To Grow

Renewables supplied 49.9% of gross electricity consumption across the EU in 2025, up from 47.5% a year earlier. Since Eurostat began collecting comparable data in 2004, the share has risen from 15.9%.

Austria recorded the highest share at 90.8%, followed by Sweden at 89.2%. Denmark generated 77.7% of its electricity from renewable sources, followed by Portugal at 65.6%, Greece at 60.9% and Spain at 60.7%.

Overall Energy Transition Still Has Work Ahead

Renewables accounted for 26.2% of the EU’s gross final energy consumption in 2025, up from 25.2% in 2024 and 9.6% in 2004.

Despite the increase, the bloc remains below its legally binding target of 42.5% by 2030. According to Eurostat, achieving that goal will require an average annual increase of 3.3 percentage points between 2026 and 2030.

Sweden recorded the highest overall renewable energy share at 65.4%, followed by Finland at 53% and Denmark at 48.2%. Belgium recorded the lowest share at 14.9%, followed by Slovakia at 16.3% and Ireland at 17.2%.

Heating And Cooling Also Show Steady Progress

Renewable energy accounted for 27.4% of heating and cooling across the EU in 2025, the highest level since comparable records began in 2004. The share increased by 0.7 percentage points from 2024, slightly below the long-term annual average increase of 0.75 percentage points.