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Archive for February, 2014

Six thousand foreclosure requests filed at land registry

Six thousand foreclosure requests filed by banks at land registry offices across Cyprus remain pending and are not expected to proceed soon due to the land registry offices heavy workload.

Troika anticipates property market recovery

The chairman of the Cyprus Land and Building Developers Association (LBDA) has reported that the Troika believes that there will be a recovery in the island’s property market in 2014.

Building sector ‘dictatorship’ says union

Building contractors are not paying their employees on time, cutting their wages and letting them go say the Pancyprian Federation of Labour (PEO) and the Cyprus Workers’ Confederation (SEC).

Concerns over taxman control in property transfers

Property transfers dependence on the payment of outstanding tax obligations are being discussed by lawmakers, with the chairman of the House Finance Committee expressing concern that it could be unconstitutional.

Evidence of improving banking sector stability

The Bank of Cyprus leadership believes there is evidence of improving stability in the Bank and generally in the banking sector and points out that it is fully committed to restoring the confidence of depositors and customers.

Qatar Investment Authority targets Limassol

The head of the Cyprus Investment Promotion Agency (CIPA) has said that the Qatar Investment Authority (QIA) has shown some interest in investing in property in the Limassol area.

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