MARKET TRENDS

RICS: Property prices increase significantly in Q3 2017

An increase of 7.4% in apartment prices and 4.2% in house prices on an annual basis was recorded by RICS’ Cyprus Property Price Index.Across Cyprus, on an annual basis (compared to Q3 2016), the pri [...]

BY Elena Economou
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Feb 20 2018

Energy Minister meets with ENI representatives to assess EEZ developments

Energy Minister Georgios Lakkotrypis said he is meeting on Tuesday with representatives of the Italian energy giant ENI, in order to asses on the highest level the available options concerning develop [...]

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BY Elena Economou
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Feb 14 2018

New cabinet announced

President Nicos Anastasiades announced on Tuesday the composition of his new cabinet, which includes four fresh faces, The president appointed government spokesman Nicos Christodoulides as head of the [...]

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BY Elena Economou
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Feb 13 2018

Investigation of a company’s affairs

Where it is shown that a more in-depth investigation is required in relation to a company’s affairs to protect its interests, the court may at the request of a shareholder issue a declaration statin [...]

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BY Elena Economou
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Feb 12 2018

A real estate cause for worry?

AS TIME passes so the pressure on Cyprus from the EU increases. At this point the visa/passports scheme is working well for us and has contributed to the expansion of the economy by 4% this year, wh [...]

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BY Elena Economou
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Feb 10 2018

Shacolas Tower, Superhome and Debenhams Limassol sold to BoC

Woolworth Properties Plc has agreed to sell three properties worth €44 million to Bank of Cyprus, the company said on Thursday in a filing with the Cyprus Stock Exchange. The deal concerns the Shaco [...]

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BY Elena Economou
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Feb 09 2018

Eni announces a gas discovery Offshore Cyprus

An intensive and detailed data collection (fluids and rock samples) has been executed on the well. Calypso 1 is a promising gas discovery and confirms the extension of the “Zohr like” play in the [...]

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BY Elena Economou
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Feb 08 2018

Egypt warns Turkey over East Med economic interests

Egypt on Wednesday warned Turkey against any infringement of its economic rights in the eastern Mediterranean under a maritime border demarcation agreement signed in 2013 with Cyprus that allows explo [...]

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BY Elena Economou
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Feb 08 2018

Hints of encouraging gas finds, but experts urge caution

ENI and Total may have made a substantial gas discovery at their Calypso prospect in Cyprus’ offshore block 6, according to reports in the foreign press. Israeli financial daily Globes has reported [...]

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BY Elena Economou
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Feb 07 2018

Building permits up 45% in January to November

Less than 30 per cent of the construction activity which received the go-ahead from the local administration is in Nicosia while that in Limassol makes up more than 37 per cent, Cystat said. Around 13 [...]