India-Greece-Cyprus Business Council (IGC) Officially Launched

by THEFUTURE.TEAM

February 13, 2025

The India-Greece-Cyprus Business Council (IGC) was officially launched at the prestigious Taj Mahal Palace in Mumbai, marking a significant milestone in enhancing economic relations among the three countries. This initiative follows the Memorandum of Understanding (MoU) signed in September 2024 between Eurobank and the Indian Chamber of Commerce (ICC).

Launch Ceremony And Key Attendees

The ceremony was attended by representatives from the Greek and Cypriot embassies in India, as well as prominent business leaders. Notable attendees included Mr. Abhyuday Jindal, President of the ICC and CEO of Jindal Stainless Ltd., and Mr. Fokion Karavias, CEO of Eurobank.

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New Opportunities In Trade And Investment

The IGC aims to establish a robust business platform to foster strategic cooperation in sectors such as infrastructure, shipping, technology, financial services, and small and medium-sized enterprises (SMEs). With India’s growing economic influence and Greece and Cyprus serving as key gateways to Europe, the council seeks to enhance cross-border trade, investment, and political ties.

Mr. Abhyuday Jindal emphasized the importance of this collaboration, stating:
“This partnership reflects the shared vision of India, Greece, and Cyprus for economic growth. The IGC will be a catalyst for new business opportunities, especially in infrastructure, technology, renewable energy, and shipping.”

The Role Of The Banking Sector

Eurobank’s CEO, Mr. Fokion Karavias, highlighted the importance of the banking sector in facilitating trade, noting:
“Eurobank aims to serve as a key partner for Indian businesses seeking to expand into the European Union. The IGC will be a bridge for investors looking for new opportunities.”

Sustainable Development And Future Initiatives

The IGC focuses on modern global economic priorities, including digital transformation, green investments, and the creation of resilient trade ecosystems. It will also focus on supporting SMEs and start-ups, ensuring that companies of all sizes benefit from this collaboration.

The IGC’s initial strategic actions include trade missions, business forums, and knowledge exchange platforms designed to maximize opportunities for cooperation between India, Greece, and Cyprus.

The Future Forbes Realty Global Properties

€50 Million Luxury Resort Planned For Ayia Napa

by THEFUTURE.TEAM

October 22, 2026

Ayia Napa could strengthen its position in the premium tourism market with a proposed €50 million mixed-use resort combining a hotel, serviced apartments, luxury bungalows and a beach club.

Aesara Investments Ltd has submitted an information form to the Department of Environment for a development to operate under the name Atlantica Wavemaster Hospitality. The project is planned for the Limnara area of Ayia Napa, along the coast south of Kryou Nerou Avenue, between the town centre and Cape Greco.

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Hotel, Apartments And Luxury Bungalows

The proposed resort will include a 324-room hotel with capacity for 648 guests, alongside a condo-hotel building containing 20 one- and two-bedroom apartments. Facilities are planned to include restaurants, bars, cafés, a spa with an indoor pool, a gym, shops, a multipurpose hall, a children’s club and a cinema.

A further 33 three-level luxury bungalows, each designed for two guests and featuring a private swimming pool, are planned for the southern part of the site. A beach club with a restaurant and an outdoor pool complex covering more than 6,300 square metres will also form part of the development.

The project includes 321 parking spaces, including 12 for people with disabilities, and 14,196 square metres of landscaped green space featuring local plant species.

Seasonal Hotel Operations And Year-Round Residences

The hotel is expected to operate from March to November, with peak occupancy during the summer season. The condo-hotel apartments, meanwhile, will be available for sale or long-term rental and intended for year-round residence. Owners and tenants will also have access to the resort’s facilities, including its pools, restaurants and fitness areas.

Construction is expected to take 24 months once the required permits are secured. At the busiest stage, the project could employ around 100 workers per day.

Environmental Restrictions Near Cape Greco

The site’s proximity to protected Natura 2000 areas has prompted strict environmental requirements. The Cape Greco Special Protection Area borders the site to the south, while a Special Area of Conservation lies approximately 50 metres away.

Conditions imposed by the Department of Environment include a maximum building height of five floors, or 18.5 metres, and restrictions on permanent structures near the coastline. The project must also use spider-web type glazing and low-intensity lighting to minimise disturbance to local birdlife.

According to the project’s consultants, the design has been prepared to comply with the environmental conditions and the final report on cumulative impacts for the Cape Greco Special Protection Area. The hotel and apartment building are positioned in the central and northern parts of the plot, away from the shoreline.

Within the designated no-build zone, located 40 metres from the boundary of the beach protection zone, only swimming pools are planned. The consultants state that these are not expected to affect protected species in the area.

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