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Middle East is moving to Cyprus

Middle East is moving to Cyprus

Middle East is moving to Cyprus

They say that one man’s food is another one’s poison, this is unfortunately true when you consider that many Arabs from Syria and Lebanon have fled their war torn countries seeking a safe haven in nearby Cyprus which is only 130 miles away. This has been happening with the Lebanese since their civil war in 1975, with the result being, a huge community of Lebanese nationals living in Cyprus. The lucky few that have the means to buy second homes have taken advantage of the strategic position of Cyprus and when there is turmoil in their countries, a quick flight of less than an hour sees them safely settled and in Cyprus with their families.

Larnaca seems to be the city of choice for many Arabs. The attraction of Larnaca can be seen as the airport, the harbor and the marina were the have opened offshore companies, and also the Hala Sultan Mosque which is considered one of the most revered holy places for Muslims worldwide. With the booming property trade in Larnaca which offers many high end quality residential properties, many Arabs have come to consider Larnaca as their new home. The ‘golden visas’ or ‘citizenship by investments’ initiatives for permanent residence and citizenship that the Cypriot government has introduced is gaining a lot of interest in the Arab world, with new investors showing an interest in buying properties in Cyprus. The extraction of Gas and Oil which   is scheduled to be implemented soon is another important factor that is attracting Arab investments, especially in light of the instability of their countries.

Cyprus is considered to be the bridge between Europe and the Arab world, and many see the island as a strategically placed country with high potential. Arab businessmen are using Cyprus as a platform for their activities in the European market. The Lebanese community in Cyprus have been operating in Cyprus for many years, particularly in financial services, commerce and real estate. 

Arabs have invested a lot of money in Cyprus, consider the two hotels the Le Meridian and the St. Raphael which are both owned by Arabs plus many off shore companies that have been established, are also managed by Arabs. Estate agents have started promoting properties in Cyprus to the Arab world extensively over the last few years and this is definitely an up and coming trend for the real estate market in Cyprus.                                        

The elite from Egypt, Syria and Lebanon are considering purchasing property in Cyprus due to the insecurity they face in their own countries. A home away from home, is what Cyprus can be considered to be, the island is so close to these countries that it makes sense for many Arabs to buy property in Cyprus. Many of the Arabs moving here are from Christian backgrounds, but a lot are Muslims as well. Cyprus has a non-racial policy and all are made to feel welcome regardless of race or religion.

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