Opposition slams ‘discount’ on land earmarked in Qatar deal

THE WAR of words over the deal with Qatar for a commercial development in Nicosia raged on yesterday, with the opposition charging that prime real estate was given away at a 65-per cent discount and the government countering that DISY was deliberately misleading the public.

An expert committee tasked with handling negotiations for the multi-million-euro project in Nicosia has recently agreed on a €50-million price tag for the land earmarked for development, falling short of the government’s initial estimate of some €140 million.

“In other words, the state will transfer the land … offering a 65-per cent discount on the value … estimated by the land registry,” DISY deputy chairman Averof Neofytou said.

The deal was for Qatar to put in an amount equal to the value of the property.

The opposition MP poured scorn on past comments by Finance Minister Charilaos Stavrakis, who had said €500 million would pour into state coffers as a result of the deal.

And AKEL MP Yiannos Lamaris spoke of an initial investment by Qatar of close to €200 million, Neofytou added.

He also made reference to Stavrakis’ assurances that all provisions had been included in the agreement to safeguard the state’s and the public’s interests.

“Imagine if they had not safeguarded the interests how much the discount would have been,” Neofytou said.

Government spokesman Stefanos Stefanou responded by accusing the opposition official of “consciously misleading” the public.

“Mr Neofytou knows but withholds the fact that, based on the agreement, all proceeds from the sales over and above the reference prices used by Qatar, will end up” in Cyprus, Stefanou said.

The spokesman said the expected income for Cyprus is around €120 million to €200 million, not taking into account the boost to employment and the potential for future business deals with the oil-rich country.

Stefanou expressed regret that Neofytou was trying to harm a significant investment in a bid to score political points.

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