Land in Paphos : A giant Chinese conglomerate, which owns thousands of light industries, is looking for a large expanse of land in Paphos in which to set up business.
Phileleftheros has exclusive information that this giant of the construction sector is at the exploratory stage of searching for the right area to build its infrastructure.
Industry representatives have confirmed that the intention of the Chinese giant is to settle in Paphos and acquire land to erect 120,000 square metres of buildings.
“This development,” they said, “will include a large-scale exhibition and storage space, an international regional export planning centre and an area where semi-finished products imported from China will be assembled and finalised in Cyprus and then re-exported to other countries of the European Union. ”
This Chinese conglomerate, they specify, deals through its network of companies and industries, with products made of glass, ceramics, tools of various kinds, electronics, travel accessories and more.
“The interest that has been expressed is specific and dates from the end of 2017…This Chinese organisation is looking for 60,000 square meters to begin operating as soon as possible before expanding it,” an informed source said.
The economy of Paphos depends largely on tourism and there are four resorts in the district: Kato Paphos, Coral Bay, Latchi, and Aphrodite Hills. The largest by far is Kato Paphos which employs over half of Paphos’ population. Farming, especially banana, grape and tobacco cultivation, also contributes significantly to the economy of Paphos. Paphos has a 100 km (62 mi) water distribution network which irrigates 5,000 ha of land. Paphos has the island’s second international airport. Paphos Harbour is not important in terms of international trade as most shipping uses the harbour at Limassol. Paphos Marina has cultural and historical importance and is also used for fishing
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