Leptos defends Neapolis project

Pandora Investment Co., a member of the Leptos Group of Companies has defended its intention to build a multi-million pound project in the Neapolis area of Paphos, even though it has come under a barrage of criticism for massive land exploitation and serious irregularities to serve its interests.

In an official statement, Pandora Investments, which is listed on the CSE said the Neapolis project is absolutely within the framework of the Strategic Development Plans 1999-2003 and 2004-2006 determined by the State.

If approved, it also envisages the creation of an English language university by 2008 in the Paphos town of Yeroskipou for 3.000 students, a Research and Development Center, a private hospital and various cultural projects that contribute to the improvement of Education, Health and Culture in the wider area of Paphos.

The project, which is expected to finish in 15 years, will create 8,000 new job posts and will bring in to Paphos net influx of CYP 100 mln per annum.

Critics have charged that most of the land secured for the Neapolis project has been made through the illegal changing of the zones, allowing the group to convert agricultural land while at the same time, adjacent land has not been converted. The Group is also charged for using strong arm tactics to force people to sell their land at cheap prices.