Property sales reach €1.7 billion in Q1 2023 - Property sales in Cyprus reached €1.7 billion in the first quarter of 2023, according to data from the Real Estate Agents Registration Board. The property market has maintained its resilience despite the challenges, the Board said. In its quarterly “Property Market Bulletin,... more

Saudi Arabia and Cyprus are entering a new era - The Ministry of Finance of the Republic of Cyprus and the Ministry of Investment of the Kingdom of Saudi Arabia signed a Framework Cooperation Program (FCP), aimed at strengthening economic ties and facilitating investment opportunities between the two countries. The 11 March... more

Property sales rise 17% - Annual real estate sales rose in the first two months of the year, boosted by the relocation of high-tech firms and their employees. According to the latest Land Registry data, sales documents filed in January-February were 2,222 units from 1,907 in the two months of 2022, re... more

Int'l cruise company to open new office in Cyprus - Royal Caribbean Group, one of the world’s largest cruise companies, announced today its plans to open an office in Cyprus. The office will be based in Limassol and will support ship operations as the company looks to develop its Eastern Mediterranean business. “We have foste... more

NEW GAS DISCOVERY IN BLOCK 6 - The drilling rig of the ENI-TotalEnergies consortium in the Cyprus EEZ has discovered a new gas field at the Zeus 1 target. This is a larger field than the one discovered by the Italian-French consortium on 22 August in the same block (Block 6). Preliminary estimates indicate... more

CY-India sign bilateral cooperation agreements - Bilateral cooperation agreements between the Republic of Cyprus and India were signed on Thursday, December 29 at the Ministry of Foreign Affairs in Nicosia. Indian Foreign Affairs Minister, Dr Subrahmanyam Jaishankar, who is paying a working visit to the island, described the... more

October was the busiest cruise month of 2022 - October was the busiest cruise month of 2022 for DP World Limassol, as 29 cruise ships carrying over 46,000 people, berthed at the port and used its passenger terminal.  Between January and October, DP World Limassol accommodated 128 cruise ships and 154,000 passengers,... more

Paphos European Capital of Smart Tourism for 2023 - The city of Paphos was officially named the European Capital of Smart Tourism for 2023, according to its Mayor Phedon Phedonos.  In a post on social media, the Mayor said that the result of the EU competition was announced Wednesday in Brussels, where a Paphos Municipality ... more

Cyprus to export excess renewable energy by 2027 - Ιt is estimated that by the end of 2027 Cyprus will have an excess of renewable energy that could be exported or exchanged, in addition to the quantities that could be available from Egypt, Israel, and Greece, President of the Republic, Nicos Anastasiades, said on Friday mo... more

Cypriot Economy 2022 Growth to 3.5% - The International Monetary Fund (IMF) has upgraded its forecast on the growth rate of the Cypriot economy in 2022 to 3.5% of the GDP from 2.1% that it expected in April 2022, while it downgraded its estimation for the 2023 growth rate from 2.5% to 3.5% that it expected l... more