week 18 - 2024

The Cyprus economy is expected to continue growing, driven by a strong tourism sector and export growth. Astrobank is selling properties in various areas of Cyprus, including houses and agricultural land. Limassol is the leading city for real estate activity, with sales reaching 1.5 billion euros. The Larnaca Development Committee has decided not to extend the deadline for Port Marina projects. Limassol will have two new malls and the Trilogy Plaza has already opened. Hotel occupancy rates during Easter reached 50%. Astrobank has launched a new fund and appointed a new CMO. There has been a slight decline in building permits, and Cyprus has made improvements in anti-money laundering measures. For more information, visit yasucyprus.com. Welcome to the Yasu Cyprus podcast. I'm Marios bringing you the latest real estate and economic news headlines from Cyprus over the past week. Cyprus economic outlook for 2024. The economy in Cyprus is forecast to expand at a similar pace to the previous year with a strong tourism sector and export growth expected to drive momentum. Astrobank's property sales in Cyprus. Astrobank is offering houses for sale in Larnaca, Nicosia and Paphos, as well as agricultural land in various parts of Cyprus. Limassol leads residential real estate activity. Limassol has emerged as a hotspot for residential real estate, capturing 43% of Cyprus's total market by value, with sales reaching 1.5 billion euros. Larnaca Development Committee stance. The Larnaca Development Committee has decided not to extend the deadline for Port Marina projects, potentially impacting future developments. New malls in Limassol. Limassol is set to welcome two new malls, which have been approved by the cabinet and are currently in the licensing phase. Trilogy Plaza and Tree Hotel openings in Limassol. The Trilogy Plaza in Limassol has opened its doors and plans for the new Tree Hotel in Plantra have been announced. Easter hotel occupancy rates in Cyprus. During the Easter period, hotel occupancy rates in Cyprus reached 50%, indicating a steady demand for tourism accommodations. Astrobank's financial initiatives in Cyprus. Astrobank has launched the Target Maturity Fund 2027 and announced the appointment of Kyriakos Kyliaris as the new CMO. Cyprus building permits and real estate review. There has been a slight decline in building permits by 0.5% year over year in January, while Deloitte has published the Cyprus Real Estate Review 2023. Cyprus's anti-money laundering, countering the financing of terrorism improvements. Moneyval Committee has recognized Cyprus for its improvements in anti-money laundering and counter-terrorist financing measures. For more information about lifestyle, travel, business and investment in Cyprus, visit yasucyprus.com.