Critical issues concerning the real estate development sector were the focus of a meeting between ETEK and the Cyprus Real Estate Development Association.

The meeting was attended by the President of the Cyprus Real Estate Development Association, Yiannis Misirlis, members of the Board of Directors, the General Manager, and other executives, while ETEK was represented by the President of the Chamber, Konstantinos Konstantis, General Treasurer Elena Christodoulou, General Council member Alkis Dikaios, and officials from the Service.

During the meeting, the President of ETEK presented the Chamber’s positions and recommendations, and there was an extensive exchange of views on issues concerning bureaucracy and delays in development permitting, the management of common-ownership, dangerous and listed buildings, the need to modernize urban planning provisions, as well as improving the framework for promoting sustainable and high-quality developments. ETEK also reiterated its position in favor of advancing the relevant bills on the regular inspection of buildings, the management of common-ownership buildings, and the strengthening of the tools available to the competent authorities.

Regarding licensing, the Chamber emphasized the importance of further improving procedures, enhancing communication between designers and licensing authorities, strengthening the functionality of the “IPPODAMOS” system, and reducing system congestion through rapid licensing of low-risk buildings and enhanced building inspections.

The discussion also examined the need to modernize parking requirements, new Local Plans, issues and solutions regarding listed buildings, and the Urban Plan for the Island.

ETEK and the Cyprus Real Estate Development Association agreed that the issue of affordable housing requires faster permitting processes, since in times of high uncertainty and volatility, the speed of the permitting process can determine whether a housing project remains viable or is abandoned.

Both sides expressed specific concerns, noting that interest rates, construction costs, material prices, and financing conditions can change significantly in just a few months. In particular, for affordable housing projects, where profit margins are already limited, a prolonged delay in permitting can turn a financially viable project into an unfeasible one.

The meeting took place in a constructive atmosphere and reaffirmed the need to continue the dialogue between ETEK and the organized land development sector. It was jointly acknowledged that resolving existing problems requires coordinated action, institutional cooperation, and the modernization of procedures and regulatory frameworks, with the aim of ensuring safety, quality, speed, and sustainability in the development of the built environment.