Cyprus government boosts housing and promotes investment mission to the US

President Nikos Christodoulides announced a government plan to construct 460 homes on state land, a project exceeding €70 million. This initiative is part of a broader housing strategy for which over €300 million has been allocated to address accessibility, particularly for young families. Speaking at the Association of Large Developments in Nicosia, the President emphasized the necessity of public-private cooperation and updated planning incentives to increase housing supply.

Simultaneously, the President announced a planned business mission to the United States at the end of November, marking his second visit in recent months. This mission, coordinated with the U.S. government, aims to capitalize on growing interest from American companies in the Cypriot market. As part of this diplomatic and economic push, a delegation led by the Deputy Minister of Research, Innovation and Digital Policy participated in the Plug and Play Silicon Valley Winter Summit to strengthen technological ties. The government-backed 'Cyprus Catalyst' initiative, established following a visit in April, remains central to connecting Cypriot technology businesses with the American ecosystem to foster foreign investment, knowledge transfer, and innovation.