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CLDC to be funded from new Casino revenue

CLDC to be funded from new Casino revenue


The allocation of 15% of the income of the new casino, once it is operational, to the Cyprus Land Development Corporation to advance its housing policy projects was agreed today at a meeting at the Presidential Palace chaired by Cypriot President Nikos. Anastasiadis on housing policy, government spokesman Marios Pelecanos said in a written statement.

CLDC, whose budget for 2022 will rise to 11.6 million euros from about 3 million euros in 2021, plans to build more than 800 housing units in the coming years, which will be allocated either under the affordable housing plan or under the new affordable rental plan. fees. for economically vulnerable households.

According to Pelecanos, the overall cost of implementing the housing policy was also discussed at a meeting chaired by President Nicos Anastasiades with the participation of the ministers of finance, interior, labor, energy, trade and industry, the deputy minister of welfare and other officials. As noted in the statement, they amount to a total of 125 million euros, doubling the costs of 2018 and an increase of 22.4% compared to 2021.

“At the instruction of the President of the Republic, the Ministry of the Interior will announce the details of a new and modernized Housing Plan for the revitalization of mountainous and disadvantaged areas and rural areas in the coming days. In addition, details of a comprehensive plan for the improvement of refugee settlements will be made public in the coming weeks,” a government spokesman said.

Regarding the issue of the VAT rate for first home purchases, which was also discussed at the meeting, the government will consult with political parties and the European Commission to find the best solution in line with European Union guidelines, he concludes.

Source and photo:, Editor

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