Interior Ministry: New Policy on T/C Properties Yielding Results

The new state policy on the management of Turkish Cypriot properties is yielding results, according to the Minister of Interior Konstantinos Ioannou. Measures aimed at transparency and meritocracy have been implemented.

Extensive audits were conducted on over 4,000 lease agreements for commercial properties and 864 properties of Local Authorities. More than 500 violations were identified in commercial properties and irregularities in approximately 12% of the properties granted to Municipalities and Communities.

In the last six months, 280 contracts were terminated, and the state recovered 66 properties and open spaces. These will be reallocated through a new eligibility and scoring system.

In the Mackenzie area, a Special Action Plan is being implemented, bringing €1 million annually to the Turkish Cypriot Property Guardian Fund, up from zero revenue previously. The rents of Turkish Cypriot properties are also being streamlined to align with current market prices. A notable case is in Lemesos, where a warehouse was rented for €12 per year.

Source: RIK Radio and Television/Giorgos Avraam