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€2 Million Fund Sought To Tackle Nicosia’s Dangerous Buildings

by News Editor

August 18, 2026

Hundreds Of Properties Still Need Action Across The District

Nicosia’s District Local Government Organisation (DLGO) is seeking access to around €2 million to deal with dangerous buildings across the district.

DLGO president Konstantinos Giorkatzis said the organisation is waiting for the Interior Ministry to provide instructions on how to apply for the funding. The money was initially approved for Nicosia Municipality through the Fund for the Revitalisation of Border Areas, but responsibility transferred to the DLGO following the local government reform.

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Authorities have already begun inspecting properties together. Nicosia Mayor Charalambos Prountzos said the municipality’s existing register is helping accelerate the process. The municipality is responsible for nuisance-related issues, while the DLGO handles buildings classified as dangerous.

656 Buildings Classified As Dangerous

A key challenge arises when a property is both dangerous and a public nuisance. In such cases, municipal staff cannot intervene because of the potential risks, including health and fire hazards.

The DLGO has sent notices to owners of dangerous or poorly maintained buildings, asking them to carry out the necessary repairs. Further action will depend on how owners respond.

The latest register lists 656 dangerous buildings and 55 properties requiring repairs across the district. Of these, 171 dangerous buildings and 28 buildings needing repairs are located within Nicosia’s municipal district.

ETEK Sets Up Advisory Committee

The Cyprus Scientific and Technical Chamber (ETEK) has established a three-member committee to advise on cases involving disputed assessments of dangerous buildings.

According to ETEK president Konstantinos Konstanti, the committee will help DLGOs deal with disagreements over engineers’ findings and potentially resolve cases without resorting to court proceedings.

The Future Forbes Realty Global Properties

Retail’s AI Push Faces A Cybersecurity And Regulatory Reality Check

by THEFUTURE.TEAM

October 19, 2026

Artificial intelligence is becoming a strategic priority for retailers, with 80% of retail leaders planning to increase investment in the technology, according to EY’s latest CEO Outlook Survey. However, growing concerns over cybersecurity, customer privacy and regulation could complicate adoption across an industry already facing inflation, geopolitical uncertainty and changing consumer expectations.

Confidence In AI Comes With Risks

The survey found that 80% of retail leaders are confident in their ability to expand the responsible use of AI and customer data. Retailers are increasingly applying the technology to demand forecasting, inventory management, customer service and personalised marketing, seeking to improve efficiency and respond more quickly to market changes.

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Yet adoption brings new vulnerabilities. EY found that 24% of retail leaders identified cybersecurity and data privacy as a leading business risk for the year ahead. Retailers manage sensitive customer information, payment systems and complex supply chains, making effective security and governance essential as AI becomes more deeply embedded in their operations.

The World Economic Forum’s Global Cybersecurity Outlook 2026 highlights the wider challenge: 87% of organisations reported rising cyber risks linked to AI vulnerabilities, while 94% expected malicious AI to have a significant impact on cybersecurity in 2026.

Regulation Will Shape AI Adoption

Regulatory frameworks are also influencing how quickly retailers can expand their use of AI. The European Union’s AI Act, China’s state-led governance model and measures introduced by individual US states are shaping the rules around the technology.

For retailers, compliance is becoming a strategic consideration, particularly for customer-facing applications that use personal data to personalise offers, automate interactions or analyse consumer behaviour. Regulatory missteps could carry significant costs in a sector where customer trust is critical.

EY Outlines Four Possible Futures

EY recommends that retailers plan for multiple outcomes rather than assume the current investment boom will continue uninterrupted. Its analysis draws on a four-scenario framework developed by Jim Dator of the University of Hawaii.

One scenario envisages constrained AI adoption as economic pressures, regulation, cyberattacks, legacy systems and poor data quality limit progress. Retailers in this environment may prioritise lower-risk back-office applications, such as finance, procurement, inventory and logistics, while customer-facing tools face resistance.

A second scenario anticipates continued growth, with sustained investment and widespread adoption. A third envisages deeper economic and social transformation as technology reshapes business operations. The fourth considers systemic breakdown, in which a small number of technology platforms control access to AI models and charge premium prices, potentially making advanced capabilities less accessible even to large retailers.

Governance Will Determine Competitive Advantage

EY’s findings suggest that investment alone will not determine which retailers benefit most from AI. Companies will also need robust cybersecurity, effective governance and strategies that can adapt to different economic, technological and regulatory conditions.

For a sector operating on tight margins, the challenge is to turn AI investment into lasting business value while managing the risks that come with greater dependence on the technology.