The arrival of thousands of Russians, the countless, modern, large scale development projects and the establishment of countless offshore companies have already turned Limassol into Cyprus' main business centre.
During the last few years there has been significant infrastructure development in the coastal areas of Limassol but the vision of the major goes far beyond that. The local authorities aspire to turn Limassol into a european financial and maritime hub. One of their priorities is the reconstruction of the historical centre of the city, but at they same time they aim to decrease the circulation of vehicles in this area, by creating more space for pedestrians and cyclists.
Andreas Christou, Limassol's major, is by far exploiting the benefits deriving from european funds and there are many projects to be utilized within 2016, of which most important are the following:
- Connection of the beach-front avenue with Franklin Rousevelt Avenue (€1,8 mil.)
- Reconstruction of Agias Fylaxeos Avenue (€ 3,5 mil.)
- Sewage and rainwater management projects (€ 45 mil)
- Creation of a Municipal Fine Arts Centre (€ 1,3 mil.)
- Creation of an aquarium within the zoo (€ 0,25 mil.)
- Strategic development plan for the underdeveloped western suburbs ( €22 mil.)
- Creation of five breakwaters in the sea area of Yermasoyia (€ 2,4 mil.)
- Creation of a new Fire Station in the easter part of the district (€ 1,9 mil.)
- Enlargement and improvment of Makariou Avenue connecting Polemidia and Ypsonas (€ 9,5 mil.)
- The city is also competing to get the permission to create the first casino of Cyprus in Limassol