The salary is indeed good for Cyprus. I am assuming you are doing some programming/developing work? As for rents, these are still quite low in Paphos versus Limassol for example, in the latter prices of real estate and rents have exploded in the last year or so. I suggest you to look at a 2bdr apt. instead of 1bdr., since in Cyprus the difference is minimal , probably less than 100€ difference in Paphos between a 1 vs. 2 bdr and you will get a lot of more space.
If you are thinking Cyprus is a lot more welcoming to foreigners, especially from South/South-East Asia, you are wrong here unfortunately. Cypriots have a very low regard of anybody coming from India, Sri Lanka, Pakistan, Philippines and will always look down on you...sorry to have to say it bluntly, but its very true, Cypriots are very backwards when it comes to that. Also not at all isolated to see a Cypriot man, especially older ones, accosting young women from said countries, as they believe they are "cheap" and vulnerable for the to make indecent proposals too. This of course does not apply to each and every person, but I've seen/heard of many cases, in one instance a client of ours, the company I used to work for, was originally from Kazakhstan, a very wealthy lady mind you, and she had a terrible experience, calling the police and all after being harassed by an old, sleazy Cypriot taxi-driver after stepping into his car from her hotel, and he kept trying to offer her money for sex...yes, it is that bad, and your wife will surely not be immune to same issues, so take that into consideration too before coming here, you have to have thick skin and treat them with the same disregard if you don't want to lose your mind, whoever might try to serve you an image of Cyprus as some idyllic, very welcoming place to all...its noting like that!
But if you have no alternative, I guess its not such a bad place, compared to others. Dubai itself I would see is a bit more "open" than Cyprus to foreigners in general, although on the down-side I know from 1st hand experience that cost of living in Dubai is probably at least 1.5x that of Cyprus, more like 3x if you like to go out often, which costs a lot more in Dubai. Numbeo has a pretty neat comparison tool, to see how much you would need in Paphos for a similar standard of living as you have now in Dubai on a xxxxx.xx salary although take this with a (BIG) grain of salt, I would say some of their numbers are far off, since its all user-input and many put fake data.
https://www.numbeo.com/cost-of-living/c ... ty2=PaphosAs for speed of internet that you say you need, thankfully Cyprus has stepped into 21st century a couple of years ago, by upgrading some of their infrastructure - until 2013-2014 it was considered normal in most areas of the island except the centers of main cities to have 2-4Mbps connections and pay 40+ EUR for it, with companies such as Cablenet expanding their fiber network, now you can have 50-100 Mbps for 30€ a month most likely, unless you will be living in a remote area/village.
Good luck with everything but really do consider your options, I assume your trade/skills are wanted in other places too, so if you are mainly after quality of life and a good future for your children maybe, then Cyprus should really be low on your list, there's plenty of other much better, more welcoming places for you to consider.