The government aims to provide 500 quality homes at affordable rent. Stelios Gavriil, President of the Cyprus Federation of Building Contractors Associations (OSEOK), shared his thoughts with ‘Ph’.
Mr. Gavriil was asked by ‘Ph’ about his views as OSEOK’s president after the President of the Republic and the Minister of Interior announced the construction of 500 homes in different areas of Cyprus. He noted that this plan is crucial to help solve the housing issue.
He believes the plan is doable and can be finished quickly. He also praised the state’s efforts to secure 70 million euros for construction.
Right after the announcements, Mr. Gavriil said the association asked for a meeting with Minister of Interior Konstantinos Ioannou. This request was accepted, and they will meet next week to discuss the program details.
Mr. Gavriil emphasized that OSEOK supports this plan and is ready to provide advice and expertise. He wants to ensure that the homes built are high quality and constructed quickly, which he thinks is possible.
He added that the 70 million euros secured are enough for these homes to meet all quality and energy efficiency standards. This way, tenants can enjoy good living conditions without losing functionality for affordable rent.
When asked how these homes will be built, Mr. Gavriil explained that, based on current announcements, private contractors will build the 500 homes through open competitive tenders, with ownership staying with the state. He mentioned that more details about timelines will come after the meeting with the Minister of Interior. He reiterated that the government’s decision can greatly help tackle this issue.
One, Two, and Three-Bedroom Apartments
President Nikos Christodoulides announced that constructing 500 homes across four districts will cost 70 million euros, with 7 million euros covering state land value.
According to the President, new homes will be available at affordable rent for families and individuals, especially young people. Construction will follow a competitive tender using the Design and Build method, with ownership remaining with the state. The Cyprus Land Development Corporation will provide significant expertise in managing these units.
These apartments will be managed by the Cyprus Land Development Corporation, just like their current affordable rent projects.
As reported by ‘Ph’, calculations were based on model homes already built by CLDC. The cost per square meter, including infrastructure costs, earthworks, and studies, is 2,325 euros plus a 5% VAT.
Out of the 70 million euros, 30% will go towards one-bedroom apartments costing a total of 21 million euros; 60% for two-bedroom apartments at 42 million euros; and 10% for three-bedroom apartments at 7 million euros.
Where They Will Be Built
The presentation shows that these 500 new residential units will be built in Nicosia District, Limassol District, Larnaca District, and Paphos District, with most in Limassol.
The land identified by the Department of Town Planning and Housing includes:
- Nicosia: Two plots in Latsia-Geri Municipality
- Limassol: In Moni, Kourion Municipality; Episkopi; Amathus – Agia Paraskevi; and Kapsalos
- Larnaca: In Voroklini
- Paphos: In Acheleia
The article ‘Contractors: Achievable Goal for 500 Quality Homes – Where They Will Be Built’ first appeared on Philenews.
Source: Philenews
