The minister also said Egypt has been building its railways along seven different axes. Sokhna Port on the Red Sea would be connected to the Mediterranean and Alexandria in the north, as well as Aswan in the far south, by three high-speed lines. Additionally, Israel and Iraq have been investing billions of dollars in rail lines to access the east-west trade. A portion of the journey is spent loading cargo onto ships in all of the plans.

“Whether it is a bridge or a tunnel, we have now finished the planning for the bridge between Egypt and Saudi Arabia and are ready to implement it at any time,” Wazir told Reuters during an economic conference hosted by the American Chamber of Commerce in Egypt.

“But the (current) solution for connecting Egypt with Saudi Arabia and Jordan is through the Arab Bridge Maritime Co., which currently has 13 vessels that can take cargo between Saudi Arabia, Jordan and Egypt,” he added.

During a visit to Egypt in 2016, King Salman of Saudi Arabia revealed plans for a bridge that would span the Straits of Tiran and complement the Saudis’ construction of NEOM, a mega-city and business zone.

The historic High-Speed Rail Link between Saudi Arabia and Egypt will span the Strait of Tiran through either a bridge or tunnel. Egyptian officials confirmed that technical planning is complete, and implementation will begin soon. The link, apart from integrating with Egypt’s national rail system, will also allow seamless travel from the Arabian Peninsula to the Mediterranean. It will benefit Saudi Arabia’s NEOM megacity as well by enhancing the region’s infrastructure.

The estimated cost of the bridge/tunnel is around USD 4 billion, with plans to carry both passengers and cargo. This route will create new opportunities for trade and tourism, reinforcing economic cooperation between the two nations.

Several Mediterranean ports that Egypt has been modernising over the past decade would receive rail cargo.

“The high-speed train line that connects to Egypt’s south would serve the site and avoid the edge of the pyramids area in the desert,” Wazir noted.

The proposed route has been rerouted to cross the plateau above and away from the antiquities site, Abydos, the location of Egypt’s first pharaohs’ burial place 5,000 years ago.

The post Egypt working to integrate railways into Asia-Europe trade: Transport Minister Kamel Al-Wazir appeared first on International Finance.

August 1, 2016: Cyprus boasts some of the world’s finest properties, set against a backdrop of astonishing beauty. It is a place where relaxation comes naturally.

One can explore the great history, the excitement of towns and villages, and a range of natural wonders one won’t find anywhere else.

While maintaining its Greek cultural identity and Eastern Orthodox beliefs, the island has been warmly embracing its visitors for thousands of years.

Those who visit are often tempted to stay; the plethora of different people living on the island, has allowed Cyprus to progress as a diverse and multi-cultural nation – catering for everyone’s tastes and needs

When one is looking at Cyprus as a permanent destination, its formula speaks for itself; EU member since 2004 with great respect for human rights and personal freedom, sun-soaked beaches, crystal clear waters, mild climate and sunshine (320 days a year), stunning snow-capped mountains, great infrastructure, quaint villages to fast-developing modern cities and towns, luxurious marinas, first-rate educational and medical sectors, world heritage sites and ancient archaeological parks, English language widely spoken…

The island’s strategic location – at the crossroads of three continents (Europe-Africa-Asia) – offers convenience with everything that is literally at the doorstep.

The island sparkles with a string of benefits:

1. Safe and Secure Environment

5th safest country in the world (Value Penguin 2015)

2.         Lowest corporate tax regime in the European Union (12.5%)

3.         Foreign direct investment for both EU and non-EU nationals

4.         Attractive tax system: double taxation agreements with 52 countries

Cyprus ranks 27 out of 145 countries for best countries doing business, according to Forbes

5.         Credible, highly reputable and advanced financial Institutions. Numerous International Banking Units and multinational companies, including Jordan Kuwait Bank, Lebanon and Gulf Bank, Bank of Beirut, Promsvyazbank, RCB, Societe Generale, Barclays

6.         Competitive modern and transparent legal, financial and regulatory framework based on the British Law and standards

7.         Significant economic memberships such as WTO, World Bank, IBRD and IMF

9.         Significant natural gas reserves in Cyprus’ exclusive economic zone

10.       Workforce: highly skilled, educated and multilingual workforce at highly competitive fees

11.       Excellent telecommunications systems

12.       High standard of living and healthcare. The healthcare system ranks 24 out of 191 countries (UK is ranked 18, Israel 28 and the US 31)

13.       Excellent public, private international schools, colleges and universities

14.       One of the highest literacy rates in the world: 99.1%

15.       Two international airports with daily flights from major destinations, including Dubai, London, Paris, Moscow

16.       Rich cultural history with ancient sites

18.       The cleanest bathing waters in Europe with bathing waters ranked 1 out of 28 member states

19.       High quality tourist facilities

20.       Exclusive golf resorts

21.       EU citizenship through property investment within 3 months with the freedom of living, business, education, healthcare and movement in EU region

22.       Cyprus Permanent Residency through property investment within 2 months

Economy

The latest International Monetary Fund (IMF) estimates puts Cyprus’ rate per capita at USD 30,882 – well above average for the European Union.

The country has been sought after greatly as a base for several offshore businesses for its low tax rates.

Tourism, financial services, shipping and real estate are all significant parts of the economy. The island caters to 2.5 million tourists annually.

The Cypriot government adopted EUR as the national currency in 2008. Since then, Cyprus has been part of a monetary union, the Eurozone and of the EU single market. In the early 21st century, the Cypriot economy diversified massively and Cyprus became far more prosperous due to this diversification. However, in 2012 it became affected by the Eurozone financial and banking crisis. In June 2012, the Cypriot government announced it would need foreign aid to support its banks. The Cyprus government implemented a comprehensive programme of adjustment and reforms with strong support of the IMF, and after four years has successfully exited the programme.

According to Eurostat, the Statistical Office of the European Union, GDP growth is expected to reach 2% in 2017. The current GDP growth stands at 1.6% (2016), as opposed to 1.4% in 2015. Property sales are also on the rise and are projected to increase by 5-10% at the end of 2016.

Significant quantities of offshore natural gas have been discovered in the area known as Aphrodite in Cyprus’ exclusive economic zone (EEZ), about 109 miles south of Limassol.

Cyprus demarcated its maritime border with Egypt in 2003 and with Lebanon in 2007, while Cyprus and Israel demarcated their maritime border in 2010. In August 2011, the US-based firm Noble Energy entered into a production-sharing agreement with the Cypriot government regarding its commercial development. Cyprus’ drilling efforts, with the support of the US, EU and UN, began in September 2011 in Block 12.

Real estate

The real estate market in Cyprus saw an increase in demand on the island from 2004-2008, which led to developers increasing the supply. Prices have always been competitive and have always created strong opportunities for buyers.

The main element of a healthy Cyprus real estate market has always been residential property and specifically luxury second homes. Seafront properties and integrated master planned communities are the property options that offer buyer’s highest value for money. The price per square meters varies significantly depending on the location and building specifications.

When award-winning and reputable companies, like Aristo Developers , combine the attraction of Cyprus with their unique freehold property portfolio, a lucrative future is literally guaranteed.

Cyprus is also one of the most favorable places for international business. Individuals looking to invest through real estate often take advantage of the location and the climate, its excellent infrastructure and the various incentives in the area of taxation. The island offers a sophisticated low tax jurisdiction – the lowest in Europe – that has rapidly become the jurisdiction of choice for international investors; 0% Capital Gains Tax, 0% inheritance tax, 0% transfer fees, and a VAT Reduction Scheme boasting a 5% reduced VAT policy on the first residence on the island.

Citizenship by investment

The Cypriot government has established a number of incentives to attract foreign direct investment (FDI) into the country, including a citizenship by investment programme that grants full citizenship.

A direct property investment of €2.5 million through Aristo Developers,  will ensure lifetime EU citizenship for the applicant and his/her family members, provided that the terms and conditions established by the Cyprus government are observed.

Successful applicants all gain the right to live, work and study in all 28 EU member countries by virtue of Cyprus’ EU membership.

Cypriot passport holders are entitled to travel visa free to more than 169 countries and can quickly obtain visas for other countries, such as the US.

There are no physical residency requirements. Citizenship is passed on by descent, offering a legacy to future generations. There are no tax consequences unless the investor opts to become a tax resident in Cyprus.

Aristo Developers , the leading developer of the island and the pioneering force behind the island’s property, golf, commercial and educational industry, was established in the early 1980s. Boasting a significant share of the Cyprus home market, the company is continuously evolving by setting new standards for the island’s property industry, without compromising its first-rate customer service, rentals service, property management and after-sales support.

Its presence on the island has encouraged many people to relocate to Cyprus and opt for the ideal holiday home in the sun. Whether it’s for investment or retirement purposes, Aristo Developers‘ attractive portfolio includes properties for the affordable budget, and those in search of superb beachfront estates.  But if recommendations are anything to go by, the proof is literally ‘in the pudding’; Aristo prides itself on long-term commitment, having established solid relationships with more than 12,000 satisfied clients over the last 15 years!

Adding to its credibility, Aristo Developers also guarantees its title deeds. Since the beginning of 2015 and until the first six months of 2016, the company proceeded with the transfer of more than 700 title deeds to its clientele, having at this moment another 1,600 title deeds available for transfer to existing property owners for completed developments. This accomplishment undoubtedly ranks Aristo Developers, yet again, as a secure and most trustworthy company that provides peace of mind when acquiring real estate in Cyprus.

As a member of a thriving European community, Cyprus has proven timelessly that it is a preferred destination of choice. A direct property investment through Aristo Developers,  will ensure that one’s road to citizenship in Cyprus is a promising one.

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July 22, 2016: Having delivered infrastructure throughout Cyprus and Greece for over three decades, Aristo Developers assures its services are built on the cornerstones of quality and commitment.  Our successful performance is supported by an extensive client base, and our ability to deliver quality and service.

As a reputable developer, Aristo Developers has been recognised for its high-level, quality products by a plethora of local and international organisations.  Having recently been acknowledged by the International Finance Magazine as ‘Best Real Estate Developers 2016’ in Cyprus, in terms of innovation and performance, Aristo Developers was also the first property and construction developer in Cyprus to be endorsed by the International Standards Organisation (ISO 9001) for quality. Our status as a ‘CLASS A’ Construction and Property Development Company – the highest category awarded to companies who have a reputation for high quality construction and building infrastructure – allows us to undertake and execute projects of unlimited number, size and value.

Aristo Developers offers peace of mind when buying property abroad. Our guarantee for delivery dates and title deeds subscribes to our principal of establishing reliable partnerships with our clients. In 2015, and the first half of 2016, Aristo Developers proceeded with the transfer of more than 700 title deeds to its clientele. Presently, the company has an additional 1,600 title deeds available for transfer. Aristo Developers is also in a prime position as all its properties are mortgage-free. Thus, every property sold has title deeds which are readily transferrable.

Aristo Developers has been a pioneering force behind large-scale developments, having developed two 18-hole signature championship golf courses, including the Venus Rock Golf Resort – set to become the largest beachfront golf resort in the south eastern Mediterranean. Other landmark projects include the Aphrodite Waterpark, the International School of Paphos, and the Kings Avenue Mall – the most contemporary shopping mall on the island of Cyprus. Furthermore, Aristo Developers has plans for two additional developments which will redefine standards of luxury living on the island: the upcoming Eagle Pine Golf Resort and the Poseidon Grand Marina Paphos.

Unique to the island, the Eagle Pine Golf Resort will present an incomparable golf course with world class facilities, nestled in a plateau of indigenous flora and fauna. The veiled location will create an elite village that is both tranquil and secluded. As a major shareholder of the Poseidon Grand Marina Paphos, Aristo Developers aspires to create the first integrated luxury marina in Cyprus that will be ranked amongst the best in the world.  The marina, with its embracing circumference of luxury residences, floating restaurants and promenade of boutiques and cafes, is destined to upgrade Cyprus’ tourist product for years to come.

With over 265 island-wide developments and 50 new projects currently in the market, Aristo Developers seeks out the finest locations across Cyprus to develop an impressive range of unique, freehold properties – ranging from apartments, villas and townhouses, to luxurious beachfront homes and golf estates.

Plage Coastal Residences Located in the heart of the Pafos tourist area, and within walking distance of the shore, Plage Coastal Residences are modern and luxurious, and offer potential buyers a Mediterranean lifestyle with the option of three- or four-bedroom detached homes – in lush, green surroundings; infinity-edge private swimming pools, gardens, quality specifications and gated entrances for added privacy and security. The atmosphere of the nearby beaches, shops, cafes and eating establishments make this a highly desirable location and place to live.

Sea Caves Residences

Everything about this project makes a statement of taste, quality and style. Sea Caves Residences are developed in one of the finest residential areas within walking distance to the Sea Caves Bay.

The rugged coastline offers breathtaking views of the Mediterranean with its small sandy coves and crystal-clear waters. Sea Caves Residences comprise six luxury villas, all of them with extraordinary sea views. Developed on large and spacious plots, these homes boast excellent specifications, functional living areas, and ensure comfort and privacy. The area itself is a prime location with award-winning villas and exclusive homes.

Imperial Residences at the Venus Rock Golf Resort

Conjuring a sense of Mediterranean elegance, the Imperial Residences – a hamlet of opulent homes, offers a refreshing sense of luxury, complimented by the Venus Rock Golf Resort’s unparalleled beauty.

Nestled on an elevated site, commanding sweeping coastal and golf course views, the privileged owners of these incomparable homes will reap the rewards of world-class facilities at one of Europe’s largest golf-integrated resorts. Imperial Residences personify the pride and impeccable attention to detail, representing extravagance, privacy and distinctiveness; superior finishes, spacious plots, private swimming pools – the price of these beautifully appointed homes includes furniture and landscaping.

The Spectrum Boutique Residences

Every detail of The Spectrum radiates contemporary charm; stately apartments with hi-tech features and exquisitely proportioned interiors. Looking out across the alluring waters of the Mediterranean and the St. Raphael private marina, these grand private residences are built to accommodate Limassol’s elite.

The Spectrum is located in one of Limassol’s most desirable and exclusive districts and features a collection of boutique apartments with breath-taking panoramic views, encompassing modern interiors, highest quality finishes, and services and facilities second-to-none. The renowned shops and boutiques of Limassol’s cosmopolitan centre are within convenient reach, and the atmosphere of Limassol’s golden coastline and Blue-flag beaches make this a highly desirable location and place to live.

Eagle Pine Golf Resort

Set back from the coast, away from life’s hustle and bustle, the Eagle Pine Golf Resort brings the pleasure of peace, tranquillity, fresh air and a drier and more pleasant client. Located around the quaint Cypriot villages of Ayios Amvrosios, Paramali and Sotira, the Eagle Pine Golf Resort lies north-west of Limassol and is set to become a landmark in the area.

This integrated resort will feature all the amenities that encompass a modern-day luxurious golf development, including plots for villas, unified organised developments, touristic village, golf course, golf club and facilities, commercial developments and sports facilities. The 18-hole signature golf course will attract golfers seeking an incomparable golfing experience and will offer traditionalists the opportunity to meet the challenges of strategically placed sand pits and waterways.

Poseidon Grand Marina Paphos

The Poseidon Grand Marina Paphos is the first integrated luxury marina in Cyprus. This exciting mixed-use development will combine super yacht berths with a diverse commercial area and an array of luxury residential properties in the picturesque town of Pafos; a well-conceived development attracting a new calibre of world-class tourists and investors who will reap the rewards of superior facilities, unparalleled by any other development in Cyprus.

The post The Aristo class of luxury living appeared first on International Finance.