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25th February 2024
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Construction sector key to Cyprus’ economic growth

Cyprus Land and Building Developers Association (LBDA) president Michalis Hadjipanayiotou on Thursday lauded the local property sector’s robustness, reflected in its ability to navigate numerous challenges, while continuing to contribute to the country’s economic growth.

Hadjipanayiotou’s comments were delivered during his speech at the association’s annual general assembly, held on November 16.

“In these 40 years, our industry has experienced significant growth, evolution, and modernisation,” he said, noting, however, that “it has also faced both small and very large challenges and difficulties”.

“With each new challenge, our association stood present, leveraging the knowledge and expertise, as well as the focus on external matters, of its members, it contributed in collaboration with the relevant authorities to shaping positions and proposals,” he added.

He stated that the association has always been aiming to “strengthen efforts towards modernising the industry, thus remaining a pillar of economic development”.

The assembly, which marked the 40th anniversary of the Cyprus Land and Building Developers Association (LBDA), witnessed the presence of several prominent figures.

These included president Nikos Christodoulides, president of the Scientific and Technical Chamber of Cyprus (ETEK) Constantinos Constanti, and the president of the Employers and Industrialists Federation (OEV) Antonis Antoniou.

Addressing the assembly, Hadjipanayiotou highlighted the real estate and construction industry’s integral role i