John Christodoulou considers bid for Cyprus presidency

Nicosia, Cyprus. British Cypriot property developer John Christodoulou said on Tuesday that he was considering a bid for the Cyprus presidency. He told Politis that a decision on whether to stand would come around year-end.

Discussions over a joint candidate

Christodoulou told Politis that Direct Democracy leader Fidias Panayiotou was among several people encouraging him to run. He said he would serve “if he could make a genuine difference”.

According to Phileleftheros, Panayiotou has discussed Christodoulou as a possible joint candidate with party leaders, including Akel. The newspaper reported that he had received no response because all parties other than Disy were still in the early stages of their internal procedures.

On Monday, Akel secretary general Stefanos Stefanou downplayed suggestions that the party was approaching potential candidates. Direct Democracy is also discussing a shared candidate with Alma, the party of Odysseas Michaelides.

Business interests and activity in Cyprus

Christodoulou owns Yianis Group, whose portfolio includes flats and hotels in Canary Wharf and other parts of Britain. The Sunday Times Rich List 2026 put his estimated fortune at £2.7 billion.

His activities in Cyprus are conducted primarily through the Yianis Christodoulou Foundation.

Reports in 2021 suggested Christodoulou was nearing a £30 million deal to acquire Omonia football club. Negotiations with Stavros Papastavrou, the majority owner, reportedly broke down over a condition requiring shares to be sold on to supporters.