Construction Sector Sees Significant Growth In 2022

The construction sector in Cyprus demonstrated remarkable growth in 2022, with the value added at current prices escalating by 8.9% to €1,442.4 million, a notable rise from €1,325.0 million in 2021, according to the latest Construction and Land Development Survey. This increase underscores a robust recovery and expansion within the sector, reflecting a broader positive trend in the island’s economy.

A Detailed Breakdown of Growth

The overall production value in the construction sector surged by 10.3%, reaching €5,564.7 million in 2022, up from €5,044.9 million the previous year. This substantial rise is indicative of increased activity and investment within the industry, driven by both public and private sector projects. Notably, the value of new construction projects climbed by 15.6%, totalling €3,392.8 million, a testament to the sector’s dynamism and its pivotal role in the country’s economic landscape.

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Sector-Specific Insights

Residential buildings experienced an impressive 21.3% increase in value, highlighting a strong demand for housing and reflecting the sector’s responsiveness to market needs. This surge is partly attributed to favourable financing conditions and government incentives aimed at stimulating residential construction. Conversely, non-residential buildings saw a slight decline of 1.8%, suggesting a potential shift in investment focus or market saturation in certain commercial real estate segments. However, civil engineering projects recorded a robust 18.4% growth, driven by substantial investments in infrastructure development, including roads, bridges, and utilities, which are essential for supporting long-term economic growth.

Employment Trends

Employment within the construction sector also saw a positive trajectory, with a 3.0% increase in the workforce, totalling 37,500 individuals in 2022, up from 36,400 in 2021. This growth in employment is a clear indicator of the sector’s expanding capacity and its contribution to reducing unemployment rates. The increase in job opportunities within construction further underscores the sector’s critical role in the broader economic recovery and growth of Cyprus.

Implications and Future Outlook

The significant growth in the construction sector not only highlights its resilience but also its crucial role in the economic framework of Cyprus. The surge in residential construction points to a thriving housing market, which could attract further investment and drive economic stability. The robust performance in civil engineering projects signals ongoing infrastructural improvements, essential for sustaining long-term economic development.

Moving forward, the construction sector is poised to continue its growth trajectory, supported by ongoing and planned infrastructure projects, coupled with favourable economic conditions. Policymakers and industry stakeholders must, however, remain vigilant to potential market shifts and ensure sustainable development practices to maintain the sector’s positive momentum.

The Future Forbes Realty Global Properties

bbf: Presents :eden coast — The Art Of Living By The Mediterranean

by News Editor

July 3, 2026

Some destinations are remembered for where they are. Others for how they make us feel.

Life by the Mediterranean has a quality of its own. Defined by light, open horizons and a slower pace, it encourages a way of living where time is measured less by the clock and more by the moments that matter. It is this philosophy that inspired :eden coast.

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With the unveiling of :eden coast, bbf: introduces an exceptional collection of beachfront villas in Geroskipou, Paphos, where architecture is conceived as a natural extension of its surroundings. Every residence has been designed to honour the coastline, allowing the sea, the light and the changing seasons to become the defining elements of everyday life.

At :eden coast, luxury reveals itself with quiet confidence so nothing feels excessive. It is expressed in generous space, carefully composed proportions, enduring materials and an effortless relationship between interior and exterior. Expansive glazing welcomes the Mediterranean sky indoors, while private gardens, terraces and pools encourage a life lived as much outside as within.

Few locations offer such a natural balance between tranquillity and connectivity. Set along a quieter stretch of Paphos’ coastline, :eden coast enjoys the rare privilege of beachfront living away from the crowds, where the landscape remains unspoilt and the rhythm of the Mediterranean shapes every day. Yet the cultural richness of Paphos, its vibrant dining scene, international airport and every modern convenience are all within easy reach, allowing residents to retreat into complete serenity without ever feeling removed from the world around them.

Beyond the residences, a carefully curated collection of wellness and leisure experiences extends this philosophy. Landscaped gardens, elegant swimming pools, spaces dedicated to movement and wellbeing, and thoughtfully designed communal areas encourage a slower, richer way of living. They are not amenities in the conventional sense; they are an expression of a lifestyle shaped by balance, privacy and quiet sophistication.

“Our ambition was never simply to create beautiful residences. It was to create a place where architecture, landscape and everyday life exist in complete harmony—a place that feels as though it has always belonged to the coastline,”
says Artem Burtsev at bbf:.

In a world that rarely slows down, :eden coast offers something increasingly rare: the freedom to live at a different pace. Here, mornings begin with the sea, nature sets the rhythm of the day, and the energy of Paphos is always within easy reach. It is a place where tranquillity and connectivity exist in perfect balance, allowing residents to experience the Mediterranean not as a destination, but as a way of life.

For more information:
edencoast.cy
+357 26 962 365

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