Newsroom
Amidst the ongoing fallout from the viral video scandal, President Nicos Christodoulides visited Limassol this morning to attend the foundation stone ceremony for the first affordable housing complex in Agios Nikolaos, a key step in the government’s plan to tackle the island’s housing shortage.
“I’m particularly pleased because the government’s responsible economic policy is bringing tangible results,” Christodoulides said. “And the most concrete proof is the reactivation of KOAG after three years.”
KOAG, the Cyprus Land Development Agency, has been given executive powers and funding to accelerate housing projects nationwide. The President said around 1,000 housing units are currently in the pipeline, demonstrating the government’s commitment to addressing one of the country’s most pressing challenges.
Just two weeks ago, on December 29, the Ministry of Interior and KOAG signed an agreement providing an additional €12 million to fund the construction of 54 two-bedroom rental apartments in Strovolos. The agreement was signed by Interior Ministry Director General Dr. Elikkos A. Elias and KOAG General Director Eleni Symeonidou.
These projects are part of the state’s broader housing strategy, which aims to increase the supply of affordable units for low- and middle-income families. Since taking office, Christodoulides’ government has reactivated KOAG, giving it a larger role and executive responsibilities to implement the state’s housing plans.
With a €16 million state contribution, construction has already started on the Agios Nikolaos project, while revenue streams secured through other policies are helping speed up additional programs. Over 2025, construction will begin in phases on 181 affordable units, with another 258 units planned for development.
The president described the initiative as a clear sign of political will and a tangible step toward making housing more accessible for Cypriots, emphasizing that even in turbulent times, concrete results remain the government’s priority.
