The government is promoting the construction of 460 homes on state land in partnership with the private construction sector, an investment of more than 70 million euros, President Nikos Christodoulides said on Monday.
Speaking at the general meeting of the Association of Large Developments in Nicosia, he said investment in housing policy totals more than 300 million euros. He described access to affordable housing as a social priority, particularly for young people and families.
Tackling the problem requires more housing supply, the use of state land and cooperation between the public and private sectors, he said. Planning incentives through building density allowances are also part of the effort to boost residential development.
Christodoulides also announced that he will take part in a new mission to the United States at the end of November to present investment opportunities in Cyprus. He said the contacts will be held in cooperation with the US government, as interest from American companies is growing.
On the business environment, he named simpler, digitised and faster licensing as priorities, along with the operation of the Business Service Centre to support strategic developments.
He linked the tax reform, which he said came into force on 1 January 2026, to greater competitiveness and better conditions for productive investment.
The President stressed the importance of dialogue with the association to tackle long-standing distortions. Growth should also be judged by the quality of jobs and the benefits for citizens, he said.
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