17.11.2023
The President of the Republic of Cyprus, Nikos Christodoulides , said on Thursday that the government’s priority is to maintain and strengthen the construction industry. The President was addressing the General Assembly of the Cyprus Property Developers Association, which was held in Nicosia in the presence of ministers, party representatives, permanent secretaries of ministries, representatives of employers’ organizations and others.
“Given your long-term contribution to our country’s economy and society, the government’s priority is to maintain, strengthen and develop the construction industry. Thanks to the increased construction of decent homes, citizens are ensured security. This is of paramount importance to us.”
The President noted that residential real estate is one of the biggest problems for citizens, and especially the new generation. He added that in this context, the Ministry of Internal Affairs recently prepared and announced a new comprehensive housing policy of a people-oriented and social nature, which includes short- and medium-term plans, as well as a number of measures to solve the housing problem.
President Christodoulides referred to the “Built for Rent” concept as an innovation for Cyprus which, coupled with a review of urban planning incentives and fast licensing regulations, will enable the development of a large residential area with many quality and affordable apartments in the coming years.
He also noted that the state’s goal is to reduce bureaucracy and improve the quality of service to citizens and society as a whole.
The President emphasized the clear political will of the government, which is aimed not only at supporting the construction industry, but also at strengthening it, introducing reforms, changes and improvements that will create an attractive environment for business stability.
