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Decision time in Aristo land deal probe

Theodoros Aristodimou of Aristo Developers

Theodoros Aristodimou – Photo credit: paphosnet

POLICE investigators will have a meeting with representatives from the Attorney General’s office on Wednesday, to decide how to proceed over a suspect land deal in Paphos involving the well-known land development company Aristo Developers, a police source told the Cyprus Mail.

The meeting signals the conclusion of an AG probe on the deal. The AG’s office spent the last two months looking into whether any prosecutions were warranted, following an investigation on the matter by the police.

Aristo Developers is one the largest land development companies on the island.

The case involves allegations that Aristo, working together with people inside the Paphos municipality, arranged for a favourable deal when they filed for a permit to demarcate 177 plots in the Skali area of Paphos.

The application was approved, but according to the complaint filed to the police, it later emerged that new plans were added to the file and the previous ones had been annulled.

With the new plans, the company took back some 5,000 square metres, which had been previously earmarked as green areas.

The value of the land was estimated at €2 million.

The company denied any wrongdoing, saying the municipality got the calculations wrong. It claimed that the municipality had asked for new plans to be submitted and the discrepancy came about because the land area was bigger than what was recorded on the title deeds.

The changes in the demarcation of green areas were made at the behest of the water department to protect a stream.