2024

The government of Cyprus has extended the application deadline for the 'Mortgage to Rent' programme until October 31, 2024, targeting individuals with overdue loans on their primary residence up to 350,000 euros. The initiative allows debtors to sell their mortgages to KEDIPES and rent their properties back for 14 years at 65% of the market average, with an option to repurchase at the end of the term.

China has decided to eliminate entry visas for citizens of the Republic of Cyprus, as a demonstration of the deepening relationship between the two nations. The decision was made during a meeting between the Chinese Foreign Minister and the President of Cyprus in New York, where they also discussed expanding air travel between the countries and restarting settlement talks on the island.

Recent data from the Cyprus Statistical Service, released on Thursday, September 20th, reveals a construction surge across the island. In June 2024 alone, a record-breaking 1,528 building permits were issued by various municipalities and district administrations.

Larnaca Municipality has finalized the contractor selection for the modernization of its central squares and streets. The re-tender process concluded with Miltiades Neophytou Civil Engineering Contractors & Developers Ltd being chosen to undertake the reconstruction of Acropolis and Alki squares and the refurbishment of Ermou, Konstantinou Kalogera, Gladstonos, Louki Akrita, and Orfeos streets in the...

The Cyprus Environment Ministry has received an application to build a 147-meter-high Ferris wheel in Limassol’s old port, named the Hyperion project, designed by PPA Architects. An environmental impact study has been conducted, and the project is now open for public discussion until December 7, 2024. Citizens are encouraged to share their views on this significant development. The Hyperion Ferris wheel...

The first architectural images of the new National Star Observatory of Cyprus, also known as the Troodos Observatory, have been unveiled by Kyriakos Tsolakis Architects. Located in Agridia, Pitsilia, this landmark structure houses two advanced telescopes: a night star gazing telescope, the Planewave CDK20 on the Paramount ME II, and a Hydrogen-α solar telescope by Lunt Solar Systems U.S.A. The observatory...

The reconstruction of the GSP Stadium in Nicosia is nearing completion, with the project now 90% finished. The contractor announced that the major facility will be inaugurated this autumn, with the work set to wrap up on Wednesday, May 8th. Construction began in November 2021 but faced multiple delays, first due to the coronavirus pandemic and then because of supply chain disruptions. Initially, the...