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Monthly Archives: May, 2017

Marinas

Larnaca marina and port progressing

Nigel Howarth -
The process of preselecting the successful bidder for the construction of the new Larnaca marina and port should be completed by the end of this week according to the Minister for Communications and Works.
News

BOC intends to sell restructured loans

Stelios Orphanides -
The Bank of Cyprus intends to sell about €20 million worth of restructured non-performing loans of developers and construction companies to a small Cypriot bank according to reports.
News

Small drop in non-performing loans

Cyprus News Agency -
Although non-performing loans had fallen by €180 million at the end of January compared to the previous month, as a percentage of total loans the figure remained the same at 47.2 per cent.
Legal Matters

Imposing VAT on land sales

Elias Hazou -
Cyprus is facing hefty fines from the European Commission if it does not impose VAT on land sales, but the imposition of VAT will have knock-on effects on the property market and the banks.
News

Loan deal for heat-proofing roofs

Angelos Anastasiou -
A special loan deal for heat-proofing roofs of up to €10,000 at 3 per cent interest is to be offered by the Co-operative Central Bank in collaboration with the employers' association (OEV).
News

More new homes under construction

Nigel Howarth -
The number of new homes in Cyprus for which building permits have been issued rose by 22.8 per cent in February 2017 compared to the same period in the previous year according to the Cyprus Statistical Service.

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