articles | 18 February 2014

Development boost for Cyprus' rural areas

Town planning policy for rural areas has been significantly changed following a new Policy Statement opening the way for contractors and investors to develop projects on large pieces of land in the countryside.

Interior Minister Hasikos signed the Policy Statement “after pressure from large land developing companies who had placed their demands before the President of the Republic.” The Policy Statement made particular reference to the construction of hospitals, schools and sports facilities. Building coefficients are up to 25% and, under certain circumstances, 35%, raising the value of land in several areas.

Source: InCyprus

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