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Mixed-Use Developments: A Catalyst For Cyprus’ Economic Growth

In the evolving landscape of global real estate, mixed-use developments have emerged as pivotal drivers of economic vitality, particularly in regions striving to blend tradition with modernity. Cyprus, an island nation renowned for its strategic geographical position and rich cultural heritage, exemplifies this trend through its recent advancements in mixed-use projects. These developments are not merely reshaping urban environments but are also contributing significantly to the nation’s economic fabric.

The Cyprus Association of Large Developments recently underscored the transformative impact of mixed-use projects on the island’s economy. These projects, which integrate residential, commercial, and leisure spaces, offer multifaceted benefits that align with Cyprus’ broader economic objectives.

One of the foremost advantages of mixed-use developments is their ability to stimulate economic diversification. Cyprus, historically reliant on tourism and shipping, has been gradually shifting towards a more varied economic model. Mixed-use projects play a crucial role in this transition by attracting a diverse array of businesses and investors. The blending of different functions within a single development fosters a dynamic economic ecosystem where various sectors can thrive concurrently.

Moreover, mixed-use developments enhance urban sustainability and liveability. By reducing the need for extensive commuting, these projects promote a more sustainable urban lifestyle, aligning with global trends towards reducing carbon footprints. For Cyprus, where tourism is a major economic pillar, enhancing urban liveability is paramount. These developments not only cater to residents but also attract tourists seeking comprehensive and engaging environments, thereby boosting the local economy.

The economic ripple effects of mixed-use developments extend to job creation and increased property values. The construction phase of such projects alone generates substantial employment opportunities. Post-construction, the operational phase continues to sustain jobs across various sectors, from retail to hospitality. Additionally, the integration of high-quality amenities and services elevates property values, offering significant returns on investment for stakeholders.

A notable example highlighted by the Cyprus Association of Large Developments is the Ayia Napa Marina project. This ambitious mixed-use development combines luxury residences, a state-of-the-art marina, and vibrant commercial spaces. The project not only enhances the region’s appeal as a premier tourist destination but also exemplifies how integrated developments can drive regional growth and investment.

However, the success of mixed-use developments hinges on strategic planning and regulatory support. For Cyprus, ensuring a conducive regulatory environment is essential to attract and sustain investment in these projects. Policymakers must focus on creating frameworks that facilitate efficient project approvals, incentivise sustainable practices, and support infrastructural improvements.

UAE Job Trends For 2025: High-Demand And Lucrative Roles Revealed

The UAE’s flourishing asset management sector, bolstered by rising investor interest, regulatory advancements, and a surge in Family Offices and Ultra High Net Worth Individuals (UHNWIs), is driving demand for banking and finance talent.

Roles in fundraising and institutional sales are particularly sought after, with professionals in these fields highly valued for their regional networks and industry expertise, according to Michael Page’s UAE 2025 Salary Guides. The comprehensive report, which includes insights from 17 industries, offers an overview of current hiring trends, salary benchmarks, and the recruitment challenges businesses face.

Banking And Finance In High Demand

The report highlights a significant need for compliance professionals, especially those with experience in Dubai Financial Services Authority (DFSA) and Financial Services Regulatory Authority (FSRA) regulations. Chief Compliance Officers and Money Laundering Reporting Officers (MLROs) are among the most lucrative roles in the sector. Jon Ede, Regional Director UAE at Michael Page, pointed out that in 2024, the UAE’s workforce grew by 9%, and the number of new companies increased by 14.5%, showing the success of the nation’s strategic initiatives.

Sales, Marketing, And IT Growth

The sales and marketing sector has seen steady growth, especially in B2B industries like technology, real estate, energy, and logistics. Roles such as Business Development Manager, Chief Commercial Officer, and Strategic Sales Director are in demand, with a premium placed on business development, key account management, and communication skills.

The IT sector, meanwhile, continues to evolve rapidly, with high demand for positions like Head of Software Development, Full-Stack Software Engineer, Agile Product Manager, Senior DevOps Engineer, and Digital Adoption Specialist. The report underscores the significant shift in the UAE talent market for digital professionals in recent years.

Navigating The Skills Shortage

The study also highlights the growing skills shortage, with businesses grappling to find candidates with the right expertise. A staggering 37% of business leaders reported challenges in finding skilled talent, while nearly a third (30%) struggled with employee retention. Nearly half (48%) of employers also cited aligning salary expectations with candidates as a key obstacle.

Ede suggests that businesses can overcome these challenges by offering competitive packages that include benefits, career development opportunities, and workplace incentives, positioning themselves as attractive employers in the competitive UAE job market.

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