An agreement signed today between the Interior Ministry and Cyprus Land Development Organisation (KOAG) allocates additional €12 million funding for constructing 54 two-bedroom apartments in Strovolos Municipality, targeting affordable rentals for eligible low and middle-income households. Interior General Director Dr Elikkos A. Ilia and KOAG General Director Elena Symeonidou inked the deal, continuing the Cabinet decision enhancing KOAG’s developmental projects.
Project integrates a comprehensive state housing policy pillar expanding residential stock, particularly accessible units amid acute shortages for vulnerable families.
Government housing revival
Christodoulides administration reactivated KOAG, granting an upgraded role in executing state housing schemes; €16M state contribution funds ongoing Agios Nikolaos Limassol affordable rental project, while revenue streams accelerated 181 units construction phases 2025 plus 258 more slated soon.
Initiative addresses the intensified housing crisis low-middle earners face via targeted financial bolstering.
Also read: Cyprus minimum wage set at €1,088 from January 1, 2026
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