Breaking news

Construction Sector Sees Significant Growth In 2022

by THEFUTURE.TEAM

July 15, 2024

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.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

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

Bitcoin Surges 23% In A Week As Investor Optimism Returns

by News Editor

August 21, 2026

Bitcoin was on track for a weekly gain of around 23% on Friday as a series of positive macroeconomic and policy developments boosted investor sentiment.

The cryptocurrency was trading about 6% higher at roughly $77,000, up from around $62,800 at the start of the week. Crypto-related stocks also rallied, with Coinbase and Circle gaining more than 9%, while Strategy rose 7%.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Macro Factors Fuel Rally

Bitcoin’s latest surge began Wednesday after Treasury yields fell sharply following a major intervention by the U.S. Treasury in the bond market. Lower yields eased pressure on risk assets and helped trigger a broader move into cryptocurrencies.

The rally was further amplified by a major short squeeze. Around $2.7 billion in crypto short positions were liquidated, according to CoinGlass.

Max Stuedlein, head of Partnerships at Sygnum APAC, said the move reflected an alignment of macroeconomic and policy catalysts, including the Treasury’s decision to increase buybacks of longer-dated government debt.

Clarity Act Boosts Sentiment

Investor confidence improved further on Thursday as the White House and crypto industry leaders made a final push to advance the Clarity Act in the coming weeks.

The legislation is widely viewed as a potential catalyst for the crypto market, although its chances of passing remain relatively limited.

Despite the rally, bitcoin remains well below its 2026 high of $94,820 reached in January and its all-time high of $126,198, set last October.

Analysts See More Volatility Ahead

Lucy Gazmararian, founder and managing partner at Token Bay Capital, said the crypto market may be approaching the end of its bear cycle.

She expects bitcoin could experience one more decline of around 20% before the market turns, pointing to historical cycles and the recent liquidation of heavily leveraged short positions.

Gazmararian also described bitcoin as a long-term hedge against monetary debasement, while warning that its short-term price remains highly volatile and driven by market cycles.