The decision to create and operate a Business Activity Service Center, dedicated exclusively to serving entrepreneurs, was announced by the President of the Republic, Nikos Christodoulides, during his address at the annual General Assembly of the Cyprus Association of Property and Construction Developers on Thursday afternoon at the OEB headquarters.

As he stated, this Center will house the Strategic Developments Division of the Ministry of Interior and the Business Facilitation Unit of the Ministry of Commerce under one roof.

"The philosophy behind our decision is to create a central point of contact for Cypriot and foreign investors wishing to operate or expand their activities in our country. This will enable them to receive immediate information and personalized guidance while utilizing the accumulated expertise of our technocrats more effectively and improving the productivity of our services for the benefit of the business community and the broader economy," he noted.

The President emphasized that the continuous upgrade of the construction sector contributes not only to the promotion of Cypriot entrepreneurship but also to positioning Cyprus as a country with vast potential for business development.

He noted that the state recognizes the challenges faced by the sector in recent years, largely due to external factors such as inflation, ongoing conflicts in Ukraine, and tensions in the Middle East and Eastern Mediterranean.

"In this context, as a government, we are taking action—not just words but concrete steps—that genuinely support the construction industry, ensuring smoother adaptation to ever-changing conditions while capitalizing on emerging opportunities," he stated, addressing the members of the Association.

The President reminded the audience that over the past year, the government implemented a holistic reform of the land development licensing process to modernize and simplify the examination and issuance of planning and building permits.

"Starting with the implementation of a package of 22 measures, we significantly reduced the previously substantial delays in the licensing process, which consequently impacted your activities and caused unnecessary inconvenience to citizens," he said.

He highlighted the "radical" revision of the planning and building permit processes with the introduction of a new, more flexible system that eliminates bureaucratic obstacles and is faster and more effective.

Since last October, this system has been in effect for low-risk developments, such as single-family and duplex homes, which account for approximately 30% of applications.

"With our drastic intervention and the modernization of the entire licensing process, planning permits for small-scale developments are now issued within 20 working days. From January, this practice will extend to building permits, reducing the time required to secure the necessary permits for constructing a residence to approximately 40 working days," he stated.

The second phase of this plan, aligned with the same philosophy, will be launched in March and will cover medium-risk developments. It aims to issue the required planning and building permits within 80 working days. The new innovative process provides flexibility to citizens and property developers to proceed with their planned developments more quickly, he added.

"Our sole goal is to find solutions to the challenges our fellow citizens face in their daily lives," he said, noting that one of these challenges is housing access, especially affordable options. He highlighted that a series of plans and measures under a comprehensive housing policy has been in place for over a year to address the housing issue.

He stated that these include seven schemes that have received significant public interest. The plans aim to increase supply by producing housing stock and to strengthen citizens' purchasing power.

"We will allocate more funding based on public demand. As long as there is interest from society, the state can invest further in these plans so that everyone interested can benefit," he emphasized.

He also referred to the increased interest from property developers in leveraging these measures, particularly the additional building coefficient granted under urban planning incentives, contributing to the goal of increasing housing stock, especially affordable housing.

Additionally, he noted that discussions in Parliament on amendments to improve the legislative framework governing shared buildings are expected to begin shortly.

The draft law will provide stronger tools to management committees of shared buildings to ensure their proper functioning and address safety issues, he stated.