The collective agreement in the construction industry has been renewed until the end of 2027. Social partners PEO, SEK, DEOK, and OSEOK accepted the mediation proposal, announced Labor and Social Insurance Minister Yiannis Panayiotou, highlighting that the agreement marks a collective success of tripartite social cooperation, benefiting the public interest and all parties involved.

The mediation proposal by the Minister of Labor was submitted on Friday, July 19.

In a written statement today, Yiannis Panayiotou mentioned that the Councils of Builders' Unions PEO, SEK, and DEOK, along with the Central Council of the Federation of Building Contractors of Cyprus (OSEOK), informed him in writing of their acceptance of the Ministry of Labor and Social Insurance’s mediation proposal to renew the Sectoral Collective Agreement in the construction industry until the end of 2027.

The agreement for the renewal of the collective contract will be signed on Wednesday, July 31, 2024, at 12:00 PM at the Ministry of Labor and Social Insurance.