2020 Cyprus Country Report

FDI Insights
WHY DID YOU CHOOSE TO
invest in Cyprus?
Oxley Planetvision
Country of Origin: Singapore
AstroBank
Country of Origin: Lebanon
We believe in Cyprus, its potential and its future.
We believe in Cyprus, as a country, as a promising
economy and as a privileged gateway between the
East and Europe. We are confident that the Cypriot
banking sector in particular, after weathering the
storm, is gradually stabilising and offers interesting
investment opportunities. In addition to that, the
seriousness and commitment of the Central
Bank of Cyprus to maintain a solid and supportive
regulatory environment which provides stability and
sustainability was a decisive factor. For us Cyprus
is a perfect illustration of the saying “never let a
good crisis go to waste”, which means that a crisis
often offers the opportunity to do things you could
not do before. It is this reasoning that made us
invest in Cyprus and we look forward to becoming
a channel for others to invest in Cyprus as well.
Maurice Sehnaoui
Vice Chairman
AstroBank
We see a renewed vigour and enthusiasm in Cyprus, driven by robust economic growth,
political stability, a resurgence in tourism, and a stable and growing financial sector. We
have great confidence in Cyprus’ overall economy and its property market. This improved
economic backdrop has encouraged direct foreign investment into Cyprus for large-scale
projects and provides a solid platform for future investments. Therefore, the time is
right to invest in Limassol’s future as the country embraces its
evolving role on the international economic scene. As the local
market is experimenting with multi-storey towers, Oxley will
apply its vast international experience to provide Limassol
with a distinguished landmark which will offer a genuinely
new lifestyle experience everyone will want to be part of.
Atterbury Europe
Country of Origin: South Africa
There are various reasons for companies
such as Atterbury and Attacq – both
originating from South Africa – to invest
in Cyprus. Our recent acquisition of The
Mall of Cyprus and The Mall of Engomi
indicates a strong relation between two
countries in different hemispheres. With
both countries former British colonies,
the influence is evident in legal and
land ownership structures that provide
significant common ground. As an added
benefit, investments in Cyprus provide
much sought-after exposure to the Euro
currency. Infrastructure is world class and
professional service providers are highly
skilled and reliable in their responsibilities
and communication with clients. There
are lucrative tax benefits for companies
investing in Cyprus, making it much
more than a beautiful and culturally
rich destination. From an economical
perspective, Cyprus is rapidly recovering
as can be seen in the recent upgraded
credit ratings and positive progress on
various issues that further improve the
reputation of Cyprus as an investment
destination on the world stage. We intend
to establish a long-term presence in
Cyprus with further investments in our
existing portfolio as well as other
locations on the island.
Raoul de Villiers
Managing Director
Atterbury Europe
Ching Chiat Kwong
Executive Chairman Oxley Holdings Limited,
Oxley Planetvision Properties Ltd
32 Country Report CYPRUS 2020