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Transformational Ventures: Limassol’s €660 Million Investment Package

by News Editor

May 19, 2025

In a high-profile address at the Lanitio Theatre, President Nicos Christodoulides outlined an ambitious, comprehensive strategy aimed at revitalizing Limassol through a series of impactful projects valued at over €660 million. Emphasizing the initiative’s core objective, President Christodoulides stated, “Economic growth is meaningful when it benefits all facets of society, fostering social cohesion and equal opportunities.”

This substantial financial commitment highlights several key areas including the establishment of a new framework for Turkish Cypriot property management and housing support for young families and vulnerable groups. Notable infrastructural undertakings comprise the Northern Ring Road, the Limassol–Saittas Road, and the Pentakomo Technology Park, underscoring the city’s role as the hub of Cypriot development.

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Key Initiatives

At the heart of these projects is a commitment to social housing, sustainable infrastructure, and cultural enrichment:

138 social housing units in Agios Nikolaos, budgeted at €16 million.
500 student dormitories with a €56 million investment.
Development of the Northern Ring Road, budgeted at €200 million.
Significant upgrade projects for Limassol General Hospital, valued at €21 million.

President Christodoulides reinforces that “Limassol is the epicenter of Cyprus’s growth, symbolizing a sustainable, resilient, and dynamic future—a model city for the nation.” For more insights into Cyprus’s innovative strides in technology, explore how Cyprus’s tech sector is reshaping the economy.

Strategic Development

The package further encompasses major cultural, infrastructural, and environmental projects that aim to transform the city. These include €140 million allocated for growth and innovation, together with €60 million aimed at green policies and flood protection structures, steering Limassol towards a greener future.

“Policy must be practiced close to citizens, through ongoing dialogue and cooperation. Limassol is changing, and with it, so is Cyprus,” concluded President Christodoulides.

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Sklavenitis Cyprus Sets A New Standard For Employee-Centric Benefits

by THEFUTURE.TEAM

September 12, 2025

Investing In Human Capital

In a bold move that underscores the growing importance of human capital in today’s business landscape, Sklavenitis Cyprus has taken innovative steps to ensure its workforce is both valued and supported. The supermarket chain has introduced a policy to pay a 14th salary to all employees—including those from Papantoniou Supermarkets—cementing its status as the sole retailer in Cyprus to implement such a comprehensive benefit.

A Significant Investment In People

This initiative is far from symbolic. With an estimated total cost of €2 million, it represents a committed investment in the company’s most valuable asset—its people. By providing an additional salary, Sklavenitis reinforces a culture of inclusivity and fairness, acknowledging every employee’s contribution to its success.

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Robust Benefits For Long-Term Stability

Complementary to the 14th salary, the company has launched a robust benefits program designed to address both financial and personal security. An Automatic Cost of Living Adjustment (ATA) of 12.56 per cent ensures that wages remain aligned with inflation, safeguarding real income stability for its team members.

Comprehensive Health And Life Support

Sklavenitis further enhances employee welfare through access to a Group Life and Health Insurance Plan and a Provident Fund co-funded by the employer. These measures not only provide immediate protection but also empower employees to plan confidently for the future.

Exclusive Perks And Incentives

The company extends its commitment beyond conventional benefits by offering store discounts, a birth allowance, and holiday gift vouchers valued at €100 during both Easter and Christmas. These additional perks enhance employee satisfaction and underline Sklavenitis’ people-first ethos.

A Strategy For Mutual Success

In an industry where employee engagement directly impacts customer satisfaction, Sklavenitis’ comprehensive approach stands out as both a progressive and strategic business decision. By investing in its workforce, the company not only nurtures a supportive workplace but also drives superior corporate performance, setting a new benchmark for responsible employment practices in Cyprus.