Economic Contribution and Collaborative Efforts
At the annual general assembly of the Cyprus Association of Large Investment Projects, President Nikos Christodoulides lauded the organization for its substantial economic contribution to the nation. He highlighted the association’s role in enhancing domestic productivity, creating jobs, and elevating Cyprus’s investment profile. The president emphasized the importance of public-private sector collaboration in tackling affordable housing challenges, particularly for the younger generation.
Despite global uncertainties, Christodoulides noted that land development investments have remained robust, contributing to economic and societal benefits. The government’s commitment to maintaining a stable environment for growth was underscored, with targeted policies aimed at structural changes, investment support, and reducing bureaucracy.
The president’s address also focused on the government’s comprehensive housing policy, which seeks to increase the country’s housing stock and make it more affordable. He called upon private sector stakeholders to participate in investment opportunities within the affordable housing market, offering an attractive package of incentives.
Detailing specific initiatives, Christodoulides mentioned the Built-to-Rent Scheme and the establishment of a Special Housing Fund. He assured that urban development applications related to housing incentives would be expedited through a streamlined process.
Sustainability and green initiatives were also at the forefront of the president’s agenda. A policy framework for renewable energy source zoning is set to be announced, supporting national energy and climate goals while promoting economic growth. Additionally, an international campaign by Invest Cyprus aims to enhance the country’s global reputation, showcasing its commitment to combating illegal financial activities and highlighting investment opportunities in various sectors.
The president acknowledged the challenges in securing construction-related licensing and announced a revised plan to incentivize the legalisation and licensing of unauthorised or new constructions within approved developments. This plan will not only address licensing issues but also support funding for affordable housing projects.
In conclusion, President Christodoulides expressed confidence in the enduring partnership between the government and private sector, emphasizing its importance in fostering entrepreneurship and creating a stable investment landscape for Cyprus’s continued progress and prosperity.
