Passing of prominent Cypriot businessman Constantinos Shiacolas

Prominent Cypriot businessman Constantinos Shiacolas has passed away, as confirmed by the Cyprus Chamber of Commerce and Industry on February 15, 2026. A civil engineer by training, Shiacolas spent over 49 years at Joannou & Paraskevaides (J&P Overseas), where he eventually served as Executive Director and CEO. During his tenure as country manager in Saudi Arabia starting in 1977, he oversaw a significant revenue increase to 1.4 billion dollars by 1992. Under his leadership, the company expanded into an international contracting firm operating across four continents. Beyond construction, Shiacolas was involved in the development of the City of Dreams Mediterranean casino resort in Limassol through Cyprus Phasouri (Zakaki) Ltd. He also held investments in the hotel sector and was the father of Cablenet founders Nicolas and Menelaos Shiacolas. His business philosophy focused on consistency and building strong international partnerships, particularly in the Arab world.