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Politics

Cyprus-U.S. Chamber of Commerce Presents “Remaking Cyprus”

March 28, 2019

NEW YORK – The Architecture Engineering and Construction Committee of the Cyprus-U.S. Chamber of Commerce held its inaugural industry event: Remaking Cyprus: A New Era of Vertical + Horizontal Development, on March 26 at MEET@Soho in Manhattan. The event included fascinating insights by industry experts from Cyprus, focusing on how high rise tower and marina projects are affecting Cyprus’ economic and physical landscape.

Demetrios Comodromos, founding member of the Chamber’s Cyprus Young Professionals and co-founder of Method Design, gave the welcoming remarks noting his own experience as an architect and his most recent visit to Cyprus. The changes are impressive as foreign investors are attracted to Cyprus for many reasons, including, of course, the natural beauty of the island. He thanked all those in attendance including the Consul General of Greece Konstantinos Koutras as well as the guests, speakers, and sponsors.

The featured speakers were Stavros Caramondanis, CEO, Agia Napa Marina; Despina Chrysochos, PE, Cyfield Group; and Tasos Papathanasiou, PE, Vice President Langan. Each presented their unique perspective on working on various projects internationally and specifically in Cyprus. The impressive buildings and projects currently under construction demonstrate the ways Cyprus is moving forward following the economic crisis.

Caramondanis pointed out how public private partnerships have changed the way projects get done in Cyprus. Foreign investment is also key to the progress of development. Caramondanis spoke about his family’s business, started by his father and his uncle, which is celebrating its 60th anniversary this year, and specifically, how his father Gerasimos partnered with Egyptian billionaire investor Naguib to implement a long term strategic plan, aiming to set a new standard for premier luxury seafront marina living in the Mediterranean with Agia Napa Marina.

Chrysochos spoke about her company’s experience as one of the key players today in all areas of the construction industry in Cyprus. Cyfield is a group of companies dealing with land development, contracting, and energy. In Cyprus, land development activities focus on satisfying local demand for housing, from lavish individual homes and housing developments, to luxury apartment buildings and complexes. Commercial projects include high-specification contemporary office buildings, industrial developments, and government facilities.

Papathanasiou spoke about how Langan provides an integrated mix of engineering and environmental consulting services in support of land development projects, corporate real estate portfolios, and the energy industry.

Their clients include developers, property owners, public agencies, corporations, institutions, and energy companies around the world. Originally from Greece, Papathanasiou noted that having worked internationally, he believes Cyprus is more open to change and overcoming problems in terms of economic and social issues which makes it more attractive to foreign investors.

After a Q&A session, the event shifted to networking. Comodromos gave the closing remarks, once again thanking all those present at the inaugural event and the sponsors for the food and drink.

Among those present were Trade Commissioner of Cyprus Aristos Constantine, Federation of Cypriot-American Organizations President Kyriacos Papastylianou, Cyprus-U.S. Chamber of Commerce President Nicolas Nicolaou, Founding President and Honorary Chairman of the Chamber Andreas Comodromos, Executive Director of the Chamber Despina Axiotakis, Theoharis David, Costas Kellas, and Cypriot Young Professionals President Jovanna Tannousis.

More information about the Cyprus-U.S. Chamber of Commerce is available online: https://www.cyprususchamber.com/.

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