Menelaos Shiacolas: ‘Enhancing our Tourist Industry with Innovation is the Way to Go’

08:59 - 23 Μαρτίου 2019

Distinguished professionals and influential CEOs from Cyprus and abroad will gather for next month’s Business Leaders Summit 2019, where they will discuss their experiences, challenges and future goals and share their advice on leadership, management and entrepreneurship. Menelaos Shiacolas, CNS Group Director, spoke to Gold News ahead of the Summit and pointed to the significance of gaining respect of all co-workers and business associated as a necessary skill for a successful business leader.

You will be speaking at the Business Leaders Summit 2019 on April 3. What is the significance of this conference?

The Business Leaders Summit 2019 is an important event on the calendar of the Cypriot Business community. Other than the obvious networking, it gives the opportunity for business people to exchange views and brainstorm on solving problems. Given the very precarious and volatile business environment that we have experienced over the last few years, this unique opportunity to exchange views and experiences with others facing similar challenges and how they address them is extremely valuable.

Based on your experience, what are the main skills a business leader should possess?

I believe there is no fixed or set mould that a business leader should adhere to. Different people have different skill sets and apply them in a unique way. One mandatory requirement though in my opinion, is to be able to gain the respect of all co-workers and business associates.

What are the main operations of CNS Group and which companies does it comprise?

CNS is a Cyprus based business group with quite diverse operations. Our most significant operations lie in the field of Real Estate, Telecoms (Cablenet), Food/Dairy industry (Charalambides Christis), large scale farming (Cyprus Phassouri Plantations), furniture contracting (Ergo Home Group) and hotels in Greece under the AKS brand. Most recently we are involved in the development and operation of Cyprus first casino (Integrated Casino Resorts) in partnership with Melco.

CNS Group deals with companies from several sectors of the economy. In your opinion, which industry has the most potential to flourish in the near future in Cyprus?

Any industry that takes advantage of the jurisdiction it operates in whether they may be geographical, fiscal or regulatory has the capability to flourish. From the industries we are involved in, I believe that the ICR will add something new to the Cyprus tourist and visitor program. I feel that enhancing our tourist industry, which is one of Cyprus’ main industries, with innovation and world-class projects is the way to go.

Which are the most significant projects undertaken by CNS Group?

From our current projects our participation and successful outcome in the international tender competition for the ICR is extremely important. It is a project that in my opinion will help transform an already evolving city such as Limassol into a truly world class destination and therefore help put Cyprus even more on the map. Adjacent to the ICR site we have just started a significant new real estate development called Citrine Estates that will offer high quality, spacious lifestyle in urban surroundings.Our takeover of Charalambides Christis from the Greek company VIVARTIA in 2011 in partnership with Alexis Charalambides was also a milestone in the Group’s history. Finally, the development of Cablenet from an operation with 200 subscribers into the leading privately owned broad band provider in Cyprus.

What are the biggest challenges the business world in Cyprus is currently facing and how can these be tackled?

The Cypriot business environment due to the small size of the market can be extremely volatile. It can be significantly affected by both internal factors, i.e. (npl in banks) or external such as regional political stability. The most important element in my opinion to face these issues is with a measured and structured approach towards new challenges and not in the extreme reactions we have seen in the past from the business community that led to the stock exchange crisis in the late 90’s, the Real Estate bubble in the mid 2000’s and to the banking crisis of 2013. This also requires responsible and well run government institutions such as the Stock Exchange, Central Bank, Land Registry and the relevant ministries to function in a similar organized manner.

Business Leaders Summit 2019

Wednesday, 3 April 2019, 4pm-7.30pm

Filoxenia Conference Centre

Organiser: Bank of Cyprus, Corporate Banking Division

Coordinator: IMH

Media Sponsors: IN Business Magazine, GOLD Magazine

For more information, contact ΙΜΗ:

tel.: 22505555, fax: 22679820

email: events@imhbusiness.com

website: www.imhbusiness.com

Menelaos Shiacolas: ‘Enhancing our Tourist Industry with Innovation is the Way to Go’

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