The Cyprus Land Development Organisation (Koag) is set to deliver 192 new affordable apartments, enhancing housing options in Limassol and Strovolos.
- The Cyprus Land Development Organisation (Koag) is set to deliver 192 new affordable apartments, enhancing housing options in Limassol and Strovolos.
- In closing, she reiterated that Koag remains committed to implementing policies that not only respond to the real needs of society but also foster social cohesion and sustainable housing development.
President Elena Koushos Hadjidemetriou announced the developments during a recent press conference, highlighting the organisation’s commitment to addressing the growing demand for affordable housing. Out of the total, 138 apartments will be situated in Limassol and 54 in Strovolos, supported by a substantial €28 million in state funding.
As part of a broader initiative, Hadjidemetriou noted that the Ianthi housing project in Larnaca will also be completed in 2025, featuring 24 apartments. In addition, new projects are underway in Kokkinotrimithia, which will see the construction of 10 residences, and the municipality of Polemidia, with 29 residences planned. Other areas such as Lakatamia, Ayios Dometios, Kaimakli, and Pallouriotissa are also experiencing the start of housing developments.
Koag’s expanded role underlines a shift from merely designing and constructing housing units for sale to a more comprehensive management of state housing policy, with backing from the interior ministry. The organisation is now actively engaged in various housing schemes, including the moderate income housing scheme and the management of government housing programmes.
Hadjidemetriou elaborated on Koag’s new responsibilities, mentioning initiatives like the ‘renovate – rent’ scheme aimed at producing more affordable housing. She also highlighted the organisation’s digital advancements, including a new website and the full digitalisation of services for purchasing, renting, and managing affordable housing.
The president emphasised the importance of Koag’s work, stating, “This report reflects Koag’s systematic, organised and responsible effort to respond to the increased housing needs of society.” With strong support from the Interior Ministry and government, Koag’s projects are designed to have a significant social impact and enhance citizens’ access to both affordable and quality housing.
Hadjidemetriou confirmed that the report illustrates Koag’s critical role in executing state housing policy through measurable projects and forward planning. “We continue to consistently utilise our real estate, cooperation with local authorities and available financial tools to strengthen the stock of affordable and quality housing on a national basis,” she stated.
In closing, she reiterated that Koag remains committed to implementing policies that not only respond to the real needs of society but also foster social cohesion and sustainable housing development.
