By Mersina Isidorou
- General Manager, Real Estate Development Association
For most people, buying a property is one of the most important financial decisions of their lives. It is, therefore, reasonable for the buyer to want to know who the professional they are dealing with is, that they meet specific requirements, and that they operate within a clear framework of oversight and accountability.
ΣΧΕΤΙΚΑ ΑΡΘΡΑ
This is precisely the regulatory gap we aim to fill by establishing the profession of Land Development Entrepreneur.
We do not claim that real estate development currently takes place without rules. On the contrary, the development of a project is already governed by a broad network of urban planning, building, environmental, and other legislative and regulatory requirements. What is missing is a specific and unified institutional framework that regulates the professional activities of the Land Developer: who can practice the profession, what requirements they must meet, how they are supervised, and how they are held accountable.
Filling this gap is a necessary next step for a market that has evolved significantly and in which buyers’ expectations—as well as professionals’ responsibilities—are now greater than ever.
What We Propose
At the core of the Real Estate Development Association’s proposal is the creation of a registration and oversight system for individuals and legal entities that professionally engage in land development for commercial purposes.
A central role in the proposed framework will be played by the “Council for the Registration and Oversight of Land and Building Developers,” which will be responsible, among other things, for maintaining the relevant Registry and overseeing professionals.
The criteria for registration in the Registry will be objective, transparent, and proportionate to the nature and responsibilities of the activity. The goal is not to create a closed profession, but to ensure a common and reasonable level of professional competence and accountability for all those active in the market.
The criteria will include, among other things, the structure, staffing, and operational adequacy of firms, collaboration with registered engineers, technical competence, and proven experience.
After all, the existence of common rules also benefits the professionals themselves. It protects those who operate consistently and responsibly, fosters healthy competition, and contributes to further enhancing the credibility of the entire sector.
At the same time, the proposed institution of the “probationary member” ensures that the new framework will remain open to those who wish to enter the industry but do not yet have the required experience for full registration. Through a transitional period during which they gain the necessary experience, new professionals will be able to gradually meet the requirements for full inclusion in the Registry.
Buyer protection at the center
A key pillar of the Association’s initiative is strengthening buyer protection. The creation of an official Registry will allow buyers to know that the professional with whom they are doing business is registered, meets specific criteria, and operates according to clear rules and obligations. In this way, the buyer will have an additional level of security and information in a transaction that, for most citizens, is one of the most important financial decisions of their lives.
Protection, however, does not end at the registration stage. The proposed framework provides for ongoing oversight of registered professionals, clear rules of professional conduct, and a procedure for submitting and reviewing complaints. At the same time, where violations are found, it will be possible to impose the prescribed sanctions.
This creates a clear accountability framework, through which the buyer will not only know who they are dealing with but also where to turn if an issue arises. This is an essential safeguard that strengthens buyers’ rights and, at the same time, helps build greater trust and reliability in the real estate market.
Time to Move Toward Implementation
Efforts to establish the role of the land developer began in 2025, when the Real Estate Development Association drafted a preliminary bill, following consultations with stakeholders and with the input of its legal advisors.
The draft bill was submitted to the Minister of the Interior in May of that year, followed by the establishment of a special working group, comprising officials from the Department of Cadastre and Surveying and representatives of the Association, to further refine the proposed framework.
Through a series of meetings held by the working group, the text underwent further refinement and improvements, and subsequently, the draft bill was forwarded to the Legal Service for legal review.
What is needed now is to complete the procedures without further delay so that the bill can be submitted to the House of Representatives and its parliamentary review can begin. For the Association, this constitutes the next essential step toward transforming the proposal into a modern, functional, and workable legislative framework.
The institutionalization of the profession is a substantial reform that can enhance the quality, credibility, and smooth functioning of the market. We are not seeking more bureaucracy. We are seeking clear rules, higher professional standards, and effective oversight.
This is, ultimately, the key objective: greater security for buyers within an open, healthy, and reliable real estate market.
