SYKALA requests information on state real estate designated for the National Solidarity Fund

The Association of Depositors of Laiki Bank (SYKALA) has addressed an open letter to the President of Cyprus, requesting an update on the status of state-owned real estate designated for the National Solidarity Fund. The association’s inquiry follows a recent government initiative by the Ministry of Interior to allocate over 570 state plots to beneficiaries at 25% of their market value to address housing shortages.

While SYKALA supports the use of state property for social purposes, it highlights that a November 2017 Cabinet decision to transfer specific state assets to the National Solidarity Fund remains unimplemented. Despite the decision being enacted into law by the Parliament, these assets have stayed idle for nearly eight years due to unresolved legal and administrative hurdles. The association is now questioning why new housing policies are being advanced while the commitments made to the fund's beneficiaries remain pending.