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Mushrooming Limassol towers ‘unsustainable’

Locals and experts believe that another tall building in an area of Limassol that has seen its fair share of ‘towers’, will only add to the many unsustainable urban constructions blighting the town.

Paralimni marina construction underway

Construction work has begun on the Paralimni marina, which is expected to be fully operational by mid-2021 and which will and will have a capacity of approximately 300 vessels.

Fifty million lost due to planning delays

Delays in issuing planning permits cost the state €50 million annually, which could be used to build ten schools, three hospitals or a museum according the Cyprus Technical Chamber ETEK.

Cyprus property market on the up

Specialists are confident over the future of the Cyprus property market, saying that the upward trend in house prices is combined with an ongoing increase in demand for real estate.

Money laundering assessment

Cyprus is to undergo a money laundering assessment from a Council of Europe committee comprising a group of experts from Moneyval following negative reports in the international media.

NPLs pushing down Cyprus property prices

Higher NPLs in particular appear to drag Cyprus property prices down indicating pressure to dispose of immovable property assets increasing their supply according to European Commission report..

Larnaca to get its first Mall

Larnaca is set to see the construction of its first Mall within the next 18 months as part of a new facelift, while local authorities prepare to address challenges it will bring; town planning permits have been issued.

Green light for Limni Golf Resort

Controversial plans to build a multi-Euro golf course and resort complex at Limni at Polis Chrysochous have been approved after the latest environmental study that found the plans fully met environmental laws and recommendations of the European Commission.

Tougher checks on citizenship bids

The EU says member states need to keep an eye on the number of citizenships they hand out in exchange for investment. Justice Commissioner Vera Jourova has warned that citizenships for sale represent a security threat.

New repossession law hits brick wall

Legal hurdles to the new repossession law, which was introduced earlier this year, have arisen after local courts put the brakes on the supposedly faster process for banks to reduce non-performing loans (NPLs).

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