Nicosia, Cyprus. Interior Minister Constantinos Ioannou defended the government’s business-friendly approach to housing and development, saying the private sector is better placed than the state to deliver projects quickly and efficiently.
Business and growth
Speaking during a discussion with young business people in the land development and construction sectors, held as part of the Gen Z & Millennial Project, Ioannou said the government’s position was clear.
“As far as business is concerned, our political direction and our ideology are certainly to help business, in contrast to other ideological spaces,” he said.
He referred to recent party proposals for wealth taxation and restrictions on property purchases by third-country nationals, saying the government instead sees entrepreneurship as a driver of growth, employment and wider economic activity.
“We applaud entrepreneurship for understandable reasons, because through the development of companies and businesses, the economy grows, the contribution to GDP, employment, and so on. Therefore, the benefits are multiple,” he said.
Shared buildings bill
Ioannou also addressed the long-delayed bill on shared buildings, saying the Interior Ministry had completed its work after two years of consultations, but the legislation remains before parliament.
The bill, he said, was submitted a year and a half ago, with discussion effectively beginning only in November, before objections were raised by district local government organisations (EOA) over the management responsibilities they would assume.
“My first action during the first session of the Interior Committee will be to request that the bill be examined,” he said, adding that the aim was to secure approval as soon as possible.
The proposed legislation provides for common funds and memos against apartments that fail to pay shared expenses, in an effort to modernise the management of apartment buildings.
“Now they will operate as they operate in a modern European country,” Ioannou said, adding that “we as the executive branch did our job and we expect the parliament to do its part.”
