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13 June, 2024
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Probe into T/C businessman's acquisition of G/C properties in Varosha

Investigation underway to uncover truth behind private agreements and Compensation Commission involvement

Apostolis Tomaras

Apostolis Tomaras

Government officials have refuted reports published by T/C newspaper Yeni Bakis which claimed that a T/C businessman had acquired three Greek Cypriot hotels and two floors of apartment buildings in the closed city of Famagusta with the approval of the Ministry of Interior of the Republic.

According to sources from the Ministry of Interior who spoke with "K", an investigation has been initiated into the reported comments made by a T/C businessman. The sources added that the Ministry of Interior could not have granted permission for the sale of G/C property in the occupied territories, and they are looking into the matter.

After conducting an initial assessment of the situation, the same sources speculate that if the T/C businessman's comments are accurate, it may be a private agreement between the G/C property owners and the T/C businessman. In such cases, the deed of transfer to the new owner is not submitted to the Land Registry, which could explain why the Ministry of Interior was not aware of the transaction.

The aforementioned sources noted that the practice of private agreement is not uncommon and has been observed in other cases. They also mentioned that another possibility is that the owners of the three hotels in question may have sought the assistance of Turkey's Compensation Commission, which is established in the occupied territories. It is plausible that an agreement was reached through this Commission, which led to the sale of the hotels.

According to information obtained by "K", two out of the three hotels seem to have followed this route and made an appeal to Turkey's Compensation Commission.

Cyprus  |  Turkey  |  Famagusta

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