G.Kouzalis LLC, international law firm with head office in Paralimni, Cyprus, would like to inform you that on 25th of June the Council of Ministers of the Republic of Cyprus has approved the creation of the five star university facilities in the stadiums area of Ayia Napa.

The university will bare the name of an “ American University of Cyprus”, and will provide education in four main areas- a) Tourism, b) hotel industry, c) Business Administration, and d) Economics, Finance, Sciences and Engineering. The plan for its activity in Cyprus, involves the initial attraction of one thousand students with the intention to raise this number to four thousand students.

The project will be built on an area of 40.000 square meters and this is the result of a continuous work of the Municipality of Ayia Napa as well as of the current Minister of Transport and Communications Mr. Yiannis Karousos ,which lasted approximately for four years.  At the present moment, after the receiving of the approval from the Council of Ministers, all the involved private entities are expected to proceed with the acquisition of all the necessary permits for the construction of the project. At the same time, all the necessary applications for educational activities has already been lodged in the Ministry of Education and Culture.

The importance of the construction of such a project in the Ayia Napa area, was expressed by the current Mayor of Ayia Napa, Mr. Christos Zanettos. According to his statement, this project is of a vital importance for all the Famagusta District, since the creation of the University will put an end to the seasonality of business activities in the area, and would  also attract thousand students and their families, further enhancing the tourist sector and general economic growth  of the island of the Republic of Cyprus.

For more information and/or stay up to date on the current matters regarding Cyprus, please do not hesitate to contact us on our email –  lawfirm@cytanet.com.cy  or dial – 00 357-23811788