The Corporation

Message by the General Manager

The Cyprus Land Development Corporation was founded by the Cyprus Government in 1980 in the ambit of the government’s social policy for the housing sector.

For thirty (30) years, the Cyprus Land Development Corporation was considered as one of the main governmental bodies responsible for the implementation of the government’s housing policy either by carrying out its own Schemes or by undertaking the management and promotion of Governmental Housing Schemes which, throughout the years, have assisted vulnerable groups of the population to acquire their own residence.

In 2017, the year during which the recovery of the economy began and five (5) years after the suspension of its development programs, the Organization re-introduced into the Budget two (2) new construction projects in Kokkinotrimithia, Nicosia and Polemidia, Limassol. These two (2) new projects are expected to be disposed with ease due to high demand, mainly by young couples.

Assessing today, thirty-eight (38) years after its foundation, the Organisation’s scope of work, we may positively evaluate its contribution. It assisted in a particularly sensitive social segment of the housing market about 5.000 families who, without its presence, may not have resolved their housing problems.

The need to provide social housing is perhaps greater today than the period that led to the Organization’s foundation due to the need to preserve the good housing conditions in our country, which are undoubtedly among the best in Europe.

Since 1997, the Organization has highlighted the need to implement a unified housing policy by suggesting that multilateralization of housing projects increases the financial and administrative costs of implementing them and reduces their effectiveness.

This necessity continues to exist. Nowadays the re-evaluation of all housing projects, both those that are still in force and those that have been suspended due to the economic crisis, is required more than ever.

It is necessary to modernize the housing policy to serve the needs of the vulnerable groups, without creating inequalities or further financial problems for beneficiaries.

The Cyprus Land Development Corporation, with its experience and expertise acquired in its thirty-eight (38) years of operation, affirms its readiness to assist effectively in the formation of a unified housing policy which, by taking into account the new conditions that have been formed in our island, aimingly and effectively, shall make the dream of acquiring a residence become a reality for as many of our fellow citizens as possible.