Ten development projects valued at more than 115 million euros are currently underway in the free areas of Famagusta district, with the Paralimni marina being the flagship project at approximately 100 million euros, officials said.
The developments were outlined at the Famagusta Chamber of Commerce and Industry’s General Assembly by its president Charalambos Manolis, who noted that the region receives disproportionately low investment compared to its GDP contribution.
In the merged Paralimni-Deryneia municipality, construction has begun on a 2.5-million-euro children’s centre expected to be completed by March 2025.
The traditional Frenaros village core renovation, costing 1.3 million euros, is scheduled to commence next year with state co-funding.
Additional projects funded through the THALIA 2021-2027 Programme include a 4-million-euro Cultural and Conference Centre in Deryneia and the Acheriton Linear Park, estimated at 815,000 euros.
Ayia Napa municipality has secured THALIA funding for four major projects exceeding 9 million euros, including an ongoing multipurpose park development and the renovation of outdoor sports facilities in Sotira.
The Paralimni marina’s first phase is expected to be completed by summer 2025.
