Insider Economy More than 300 CCB properties to be acquired by municipalities, communities

More than 300 CCB properties to be acquired by municipalities, communities

More than 300 properties that belong to the now-defunct Cyprus Cooperative Bank (CCB) will be acquired by municipalities and communities, after a cabinet decision on Monday.

Finance Minister Harris Georgiades said that 305 properties, with a total worth of  €57 million, will be given to 153 communities and 14 municipalities.

Three more properties will be used to house state services.

“Two properties in Nicosia and one in Limassol, with a total worth of €22 million, will be used to house state services. The acquisition cost will be used to cover KEDIPES’s debt towards the state,” Georgiades said.

One of the properties in Limassol will house the Deputy Ministry of Shipping.

The government will also acquire Rialto Theatre in Limassol, which will continue to operate as a theatre.

Georgiades added that there is an additional list of properties which is currently evaluated and could be used by the government in the future.

Read more:

Top Stories

Attica in ‘orange alert’ state – new emergency covid measures announced

Deputy Civil Protection and Crises Management Minister Nikos Hardalias has announced emergency measures aiming to contain the spread of the coronavirus in Attica. A daily...

Kiti Bishop Nektarios test positive to the coronavirus

Kiti Bishop Nektarios (pictured) has, according to information, tested positive for the coronavirus. It is reminded that the Bishop after coming into contact with one...

Seven new coronavirus cases detected out of 3,039 tests

The Ministry of Health has announced that 7 new cases of the SARS-CoV-II virus were detected in Cyprus over the past 24 hours out...

There will be covid cases at schools but an outbreak must be avoided, Dr. Pana says

There will be positive COVID-19 cases at schools, but we must aim at avoiding an outbreak through contamination points, said Zoe-Dorothea Pana, a Lecturer...

Mitsotakis and Tsiodras sound alarm over rise in coronavirus cases, especially in Attica

Prime Minister Kyriakos Mitsotakis and the health ministry's representative for the novel coronavirus pandemic, epidemiology expert Dr. Sotiris Tsiodras, sounded the alarm over the...


Swordfish with aubergines

To toast the sesame seeds: place sesame seeds in a small non-stick frying pan over low heat and stir until you begin to smell...

Chicken with okra and bulgur wheat

Heat the oil in a pan and sauté the okra until golden. Remove the okra, lay out in an oven tray and sprinkle with...


Just a little before serving, heat the broth and add the ravioli. (If the ravioli is frozen you don’t have to defrost). Heat them...

Seafood kebab with avocado salad

Place the mussels, shrimps and salmon in a bowl together with tarragon and lemon zest. Season and cover, keeping in the fridge for 15...