05.05.2023
On Wednesday 05.03.2023, the 79th General Assembly of the Cyprus Construction Contractors Association (SEOK) was held, where the actions of the members of the Board of Directors of the Association for the previous period under review were presented and key issues were discussed in the construction sector.
The President of the Association, Mr. Stelios Gavriil, mentioned the problems that have affected the sector and the efforts of the Board of Directors to solve them, highlighting the main ones:
- the cessation of production by the Statistical Office of the index of hourly wages in construction;
- a forthcoming change regarding the reduced rate of VAT (5%) for the purchase or construction of a first home;
- lack of human resources, both specialized workers and scientists;
- the need to include in the Public Works Contract a clause providing for the possibility of resolving disputes in court and arbitration in order to avoid delays at the expense of the parties and projects in general.
