DT. wrote:Hatter wrote:Paphitis wrote:Get Real! wrote:Well I’ll be damned! Those terrorist Arabs are investing in Cyprus again alleviating her economy, while our “friends” the Americans (according to Miltiades, Lit, and a few other illiterate nincompoops) are investing in alleviating Turkey’s political agenda via Denktash!
Qatar is not a terrorist nation! They are our ally!
Good to see Cyprus dealing with with our best mates in the region.We are all just one great big happy family!
Cyprus going from strength to strength.
At what cost, Paphitis? Not convinced until I see the small print.
the small print involves 10% to akel and katsourides. From their on the amount of jobs this will create and the injection of investment into the economy other than the construction part of this project will be
greater than if some Cypriot developer took it and built 4 high rises and sold them off.Of course I expect the national ergolavos to take the biggest chunk of the building....(vlepe Miltiades Neophytou aka omonoia chairman.)
Otherwise I can see what Marfin is screamin' about and the reason Vgenopoulos has decided to leave Cyprus as a base. 3 years after he purchases the Hilton the govt announces the most luxurious hotel in Cyprus is to be built across the road.
DT, I am not sure you are comparing like with like. Who said anything about building 4 high rises and selling them off? Let us assume that overall, this development is "a good thing". Why do you assume that if a cypriot developer took it on, all they would do is just build 4 high rises and sell them off? IF the overall intention or stipulated framework is the same (luxury flats, hotel, conference centre etc) i.e. given the same terms of reference, govt contributing the land, etc, it is reasonable to expect cypriot enterprises to be interested in investing, or at least bidding fo it. The argument that it is different, more beneficial to the Cy economy because the funds will come from outside Cyprus doesn't carry that much weight because (a) there may be other investors prepared to fund such an enterprise with money from outside Cyprus. If no tenders were invited, how do we know the Qatar option is the most beneficial to the public good ? (b) there are Cyprus enterprises investing in projects like this abroad. Some of them may well be interested in investing in cyprus instead, thus the net effect would be the same as far as influx of monies into the cyprus economy is concerned.
We are talking about bringing to the table one of the most prime locations in cyprus. Why do the Cypriots have to flog the best "family property" just to get a conference centre ? BTW, are there not enough luxury hotels in Cyprus already?
On a different tack, don't you think its about time that the Cyprus economy diversified a bit, actually producing things, instead of putting all the eggs in the construction basket? Of course, such change requires vision, planning and concerted effort - and it might well be anathema from the narrow perspective of the national ergolavos.
