16.11.2023
“The land and construction sector is intertwined with the economic development and progress of the country,” said Michalis, President of the Association, from the podium of the Annual General Assembly of the Pan-Cyprus Land and Construction Entrepreneurs Association. Hatzipanayotu . The event took place on Thursday, November 16, to mark the 40th anniversary of the Association.
Several prominent people attended the meeting. These included President Nikos Christodoulides , President of the Cyprus Chamber of Science and Technology (Etek) Konstantinos Konstanti and President of the Federation of Employers and Industrialists ( Oev ) Antonis Antoniou . The meeting was also attended by ministers, party leaders and representatives, members of parliament, directors general of ministries, representatives of employers’ organizations, as well as economic and business leaders.
In his speech, the President of the Association, Mr. Michalis Hatzipanayotu noted that despite the challenges that the real estate sector has faced in previous years, it has demonstrated strength and resilience and continues to make a significant contribution to the development of the country, attracting investment, employing thousands of workers and building a modern Cyprus. “Our industry plays a catalytic role in attracting foreign investment.” “By offering attractive real estate investment prospects that meet the needs and desires of every buyer, we have achieved growth and development in the market,” he added. According to him, an indicative aspect of this foreign investment dynamic is that 46% of real estate transactions in the first eight months of 2023 were carried out by foreign buyers.
Mr Hatzipanayotu referred to the prospects for Cyprus to develop into a modern regional business and investment hub, while emphasizing the need for cooperation to achieve sector upgrading. “Cyprus is today emerging as one of the most important headquarters locations and a hub for service and technology companies,” said Hadjipanayiotou . “With these facts in front of us, we can confidently say that Cyprus can and should become a destination that attracts capable people from the wider region, combining quality of life, work and play,” he added.
Moreover, Hadjipanayiotou explained that to achieve this goal, all relevant stakeholders must work together to modernize the entire sector and therefore create a more friendly environment for investors, companies and their employees, both local and foreign buyers.
Hadjipanayiotou also identified several challenges hampering the smooth operation of the real estate sector, including modernizing the licensing system, finding solutions to the labor shortage and promoting sustainable construction in line with the goals of ” Fit” . for 55″. He stressed that overcoming these difficulties and solving problems requires coordination and dialogue between all stakeholders and the Ministry of Internal Affairs. He stated the association’s intention to use the expertise of its members to support the executive and legislative branches in the coming years.
Finally, the outgoing President of the Pan-Cyprus Association of Land and Construction Entrepreneurs thanked the members of the Association for the assistance they have given to the work of the Association, emphasizing that “I pass the baton, promising, however, that we will continue to actively work to further improve our industry “
