Unveiling the Paphos Marina: A Landmark Multimillion-Euro Development

by News Editor

February 24, 2025

The long-awaited construction of the Paphos Marina is finally stepping into reality, set to transform Cyprus’s coastline with a blend of residential, commercial, and maritime excellence.The Ministry of Tourism is poised to initiate the tendering phase, inviting bids for this ambitious project on April 2, 2025, as announced in their official Brief report.

Strategically designed to include a full-scale Design, Build, Finance, Operate, and Transfer concession, the marina will host 1,000 vessels, with 650 sea berths and 350 on land for maintenance and storage. Located in Kissonerga, this expansive 155,000 square-meter facility will not only boost Cyprus’s maritime sector but also open official entry pathways to the country.

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The bid process comprises two crucial phases: Expression of Interest, followed by the Invitation to Tender, with pre-selected candidates submitting comprehensive proposals.

Amid economic stakeholder input gathered by January 22, 2025, the goal is clear: attract the right investors and lock in advantageous concession terms for Cyprus. Additionally, the revamped infrastructure will offer luxury accommodations under long-term leases and modern administrative facilities.

This €400 million development, initially envisioned in 1990, promises to strengthen local tourism with state-of-the-art docking facilities, residential areas, and hotel accommodations. Business experts in Paphos continue to closely monitor the process, ensuring milestones are met to avert further delays.

Exciting times are ahead for maritime tourism as the final contract award is anticipated in early 2026, echoing a significant leap forward for Paphos Marina’s enduring vision.

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European Central Bank Report Highlights Stable Inflation and Economic Outlook

by THEFUTURE.TEAM

October 29, 2025

Overview Of Inflation Trends

The latest European Central Bank survey shows a slight decline in median inflation expectations over the next 12 months, decreasing from 2.8% in August to 2.7% in September. Despite this minor adjustment, consumer perceptions of past 12-month inflation have held steady at 3.1% for the eighth consecutive month. Long-term projections for three- and five-year inflation remain stable at 2.5% and 2.2% respectively.

Consumer Expectations Drive Income And Spending Projections

Across the board, expectations for nominal income growth over the upcoming year have remained consistent at 1.1%. However, there is a noticeable shift in spending behavior: while perceived nominal spending growth for the past year slipped slightly to 4.9% from 5.0%, expectations for spending growth over the next 12 months rose to 3.5%. Notably, lower income groups continue to forecast marginally higher spending increases compared to their higher income counterparts.

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Stability In Economic And Labour Market Outlook

Economic growth expectations are modestly pessimistic, with respondents forecasting a contraction of -1.2% over the next 12 months. Concurrently, anticipated unemployment levels remain unchanged at 10.7% a year ahead, though the outlook varies by income, with lower income households expecting unemployment rates as high as 12.7%, while higher income groups maintain expectations around 9.4%. Overall, the slight difference between current and future unemployment suggests a broadly stable labor market outlook.

Housing Market And Credit Conditions

The survey also reveals an upswing in expectations related to the housing market. Home price growth expectations have edged higher to 3.5%, and anticipated mortgage interest rates have risen modestly to 4.6%. Similar to other metrics, expectations vary by income, with lower income households expecting higher mortgage rates. In recent months, a marginal decline in reported credit tightening over the past 12 months contrasts with a renewed forecast of tighter credit conditions in the forthcoming year.

Conclusion

The ECB’s latest findings underscore the delicate balance between stable long-term economic forecasts and short-term adjustments in consumer expectations. The slight dips in inflation expectations, alongside stable perceptions of past inflation, delineate a marketplace that is both cautious and measured. As income, spending, and housing market metrics continue to evolve, these indicators provide critical insights for policymakers and investors navigating an increasingly complex economic landscape.

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