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Government Unveils €493 Million Plan To Ease Limassol Traffic

by THEFUTURE.TEAM

July 27, 2026

Transport, Communications and Works Minister Alexis Vafeadis is set to meet mayors from the greater Limassol area on Thursday to discuss a €493 million pipeline of road and transport projects aimed at easing traffic congestion across the city.

Meeting To Focus On Traffic Priorities

The meeting, to be held at the Cultural Centre of Agios Athanasios, will focus on identifying projects that should be prioritised to improve traffic flow across the Limassol district. According to government sources, the proposals are divided into short-term measures that can be implemented more quickly and longer-term infrastructure projects that require additional planning and investment.

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€493 Million Programme

The proposed programme includes road and urban planning projects with a combined estimated value of €493 million. Among the largest are the €80 million Limassol–Saittas Motorway (Phase A2), the €60 million Ypsonas–Polemidia section of the Northern Bypass, the €37 million Northern Bypass section linking Agia Fyla, Mesa Geitonia and Agios Athanasios, the €30 million widening of Agios Athanasios Avenue, including sections of Kolonakiou and G. Digeni avenues, and the €24 million Second Parallel Road connecting Germasogeia and Agios Athanasios via Vythkion Avenue.

Short-Term Measures Under Way

Several projects are already under way or approaching the tender stage, including the roundabout at the junction of Agios Athanasios and Anikodomiseos, the new motorway exit serving Limassol Port and improvements to the AHK exit. The ministry also plans targeted interventions at key junctions, additional roundabouts and the rollout of a €3 million Urban Traffic Control (UTC) system across 50 signalised intersections.

Longer-Term Infrastructure Plans

The programme also includes additional sections of the Northern Bypass, the North Parallel Road between Ypsonas and Polemidia, the Third Parallel Road, the upgrade of the A1 motorway to six lanes between Parekklisia and the Germasogeia roundabout, the construction of a third-level connection between G. Kranidiotis Avenue (B8) and N.D. Pattichis Avenue, and Phase B of the Germasogeia–Akrunta–Dierona–Arakapas road. Several of these projects remain at the planning or study stage.

Municipalities Invited To Submit Proposals

During the meeting, Mr. Vafeadis is expected to invite municipalities to submit additional proposals as part of a broader transport strategy for the Limassol district. The discussions are expected to help determine which projects will move forward first as the government finalises the next phase of the city’s infrastructure programme.

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Shein Targets $25 Billion Valuation In Hong Kong IPO As Growth Slows

by News Editor

August 17, 2026

Shein is reportedly targeting a valuation of around $25 billion in its planned Hong Kong IPO, a sharp decline from the nearly $100 billion valuation the online fashion retailer achieved in a 2022 fundraising round.

Two people familiar with the plans said the company was likely to target about $25 billion, while another source put the expected range at $25 billion to $28 billion based on the proposed price band.

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IPO Valuation Falls Sharply

Shein plans to sell up to 8% of its shares in the offering, according to a person familiar with the plans. At a $25 billion valuation, that would translate into an IPO of as much as $2 billion.

The latest target is also below the $30 billion to $40 billion valuation the company was seeking earlier this month as it began meeting with potential investors.

Founded in China in 2012 and now headquartered in Singapore, Shein sells low-cost clothing to consumers in about 160 countries. The company is expected to launch its long-awaited Hong Kong IPO later this week.

Trade Restrictions Weigh On Growth

Shein’s valuation has come under pressure as major markets tighten rules affecting low-cost e-commerce shipments. The European Union, for example, has moved to impose additional fees on cheap parcels from platforms such as Shein and Temu. EU Tightens Rules On Low-Cost E-Commerce Parcels

In the U.S., the removal of an import duty exemption for small packages has also affected the company. Shein reported a $99 million quarterly loss in the first quarter of 2026 as sales growth slowed, while a one-time accounting charge further weighed on its results. Shein Reports First-Quarter Loss Ahead Of IPO

Investors Question Shein’s Growth Prospects

The steep reduction in valuation reflects growing concerns over slower growth, higher trade costs, regulatory pressure and stronger competition across global e-commerce.

Some investors who reviewed Shein’s recent financial statements or attended IPO presentations told Reuters they were skeptical that the company could return to the growth rates that supported its $98.2 billion valuation in 2022. Shein’s Slowing Growth Tests Investor Appetite

A lower IPO valuation could also affect Shein’s existing investors. Under the terms of its IPO filing, the company may have to issue additional shares to certain pre-IPO investors if its valuation falls below agreed thresholds.