Insider Economy Cyprus government’s pillars for land development

Cyprus government’s pillars for land development

The government’s five pillars for land development focus on urban planning, land use planning, environmental regulations, construction rules and local administration reform.

This is what Interior Minister Constantinos Petrides said when addressing the recent 13th Land Development Conference, adding that three such incentives have already been announced in a bit to mobilise investment in the housing market.

The Minister also said that another major challenge for the land development sector are the four local development plans of Nicosia, Limassol, Larnaca and Paphos which are already in process. At the same time, a rational land development policy is not taken seriously without the introduction of the town planning tool of urban regeneration, he added.

“We ought to have done this decades ago when we were extending fast the island’s growth zones,” he said.

Petrides then pointed out that urban land consolidation includes the contribution of all owners of an area so that this can be designed and redeveloped.

Head of the Cyprus Land and Building Developers’ Association, Pantelis Leptos, said the possibility of further development of the island’s real estate market is there and should take place now. Referring to possible reduced demand for high-rises, Leptos said that there is a need for a balance to be determined by the market itself.

Chairman of the Real Estate Registry Board, Marinos Kineyirou, said that growth prospects in the real estate sector are positive provided that a sound economic policy is pursued in order to maintain stable and sustainable rates.  And a simultaneous strengthening of production and real economy while taking necessary corrective measures is a must.


Read more:



Top Stories

Former Finance Minister testifies about naturalisations

Former Finance Minister Charis Georgiades will today appear before the investigative committee, which is looking into all cases of passports granted through the citizenship...

Audit Office to investigate pay rise of committee investigating naturalisations

The Audit Office of the Republic reacted to the decision of the Council of Minister to increase the payment of the members of the...

February 15 is the deadline for import of cars from UK under pre-Brexit rules

The Department of Road Transport on Tuesday reminded that February 15 is the deadline for the import of cars in Cyprus from the United...

Health authorities announce new covid-19 inoculation procedure

The Ηealth Ministry on Tuesday announced a new procedure for COVID inoculation appointments. Cyprus began the vaccination program of its population on December 27 with...

Italy PM Conte looks to cling to power in crucial Senate vote

Prime Minister Giuseppe Conte addressed the Italian Senate on Tuesday, hoping to win over enough opposition and unaligned lawmakers to keep him in office...


Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...


No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...