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Cyprus Bets On Construction As A Pillar Of Sustainable Growth And Housing Reform

by THEFUTURE.TEAM

July 3, 2026

President Nikos Christodoulides has positioned Cyprus’ construction sector at the heart of the country’s transition to a more sustainable economy, describing it as a key driver of housing supply, investment and long-term growth.

Construction At The Centre Of Economic Strategy

Speaking at a dinner hosted by the Cyprus Association of Building Contractors (OSEOK) in Nicosia, Christodoulides said the transition to a greener development model requires close cooperation between the government and the private sector.

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Construction, he said, contributes far beyond its share of economic output by supporting employment, regional development and the infrastructure on which communities and businesses depend.

At the same time, Cyprus is undergoing a period of economic and technological transformation that demands a more flexible and efficient public sector. According to the president, the government is pursuing reforms to modernise public services, reduce bureaucracy and accelerate investment while supporting broader social objectives.

Faster Permits To Boost Housing

A central part of that effort is the reform of the development licensing system led by the Interior Ministry. The initiative aims to simplify procedures, expand digital services and introduce clear processing deadlines without compromising transparency or safety standards.

Christodoulides said the changes are already producing results, with permits issued for nearly 3,000 residential units within 40 working days and around 1,000 apartment buildings within 80 working days.

“The significant acceleration in the issuance of permits for new residential developments proves that when the state wishes, it can operate more effectively,” he said. “That strengthens competitiveness and helps address social challenges.”

Housing Remains A Priority

The president described access to affordable, quality housing as one of Cyprus’ biggest challenges, particularly for young people and young families.

He said the government’s housing strategy combines financial incentives, targeted support schemes and institutional reforms designed to increase housing supply. As part of that effort, the Cyprus Land Development Organisation has resumed operations with new financial support and initiatives after becoming largely inactive following 2022.

Christodoulides stressed that those policies depend on a strong construction industry, describing OSEOK as a strategic partner in expanding housing supply, containing construction costs and supporting sustainable residential development.

Building For The Future

Looking ahead, the president said the sector’s long-term competitiveness will increasingly depend on digitalisation, energy-efficient construction, innovative building materials and modern technologies.

He added that sustainable development should be measured not only by economic growth, but also by the quality of infrastructure, environmental protection and improvements to citizens’ quality of life.

Concluding his remarks, Christodoulides called for continued cooperation between the state and the construction industry, saying trust, transparency and regular dialogue would remain essential to delivering modern infrastructure, expanding housing opportunities and supporting Cyprus’ long-term development.

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Shein Targets $25 Billion Valuation In Hong Kong IPO As Growth Slows

by News Editor

August 17, 2026

Shein is reportedly targeting a valuation of around $25 billion in its planned Hong Kong IPO, a sharp decline from the nearly $100 billion valuation the online fashion retailer achieved in a 2022 fundraising round.

Two people familiar with the plans said the company was likely to target about $25 billion, while another source put the expected range at $25 billion to $28 billion based on the proposed price band.

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IPO Valuation Falls Sharply

Shein plans to sell up to 8% of its shares in the offering, according to a person familiar with the plans. At a $25 billion valuation, that would translate into an IPO of as much as $2 billion.

The latest target is also below the $30 billion to $40 billion valuation the company was seeking earlier this month as it began meeting with potential investors.

Founded in China in 2012 and now headquartered in Singapore, Shein sells low-cost clothing to consumers in about 160 countries. The company is expected to launch its long-awaited Hong Kong IPO later this week.

Trade Restrictions Weigh On Growth

Shein’s valuation has come under pressure as major markets tighten rules affecting low-cost e-commerce shipments. The European Union, for example, has moved to impose additional fees on cheap parcels from platforms such as Shein and Temu. EU Tightens Rules On Low-Cost E-Commerce Parcels

In the U.S., the removal of an import duty exemption for small packages has also affected the company. Shein reported a $99 million quarterly loss in the first quarter of 2026 as sales growth slowed, while a one-time accounting charge further weighed on its results. Shein Reports First-Quarter Loss Ahead Of IPO

Investors Question Shein’s Growth Prospects

The steep reduction in valuation reflects growing concerns over slower growth, higher trade costs, regulatory pressure and stronger competition across global e-commerce.

Some investors who reviewed Shein’s recent financial statements or attended IPO presentations told Reuters they were skeptical that the company could return to the growth rates that supported its $98.2 billion valuation in 2022. Shein’s Slowing Growth Tests Investor Appetite

A lower IPO valuation could also affect Shein’s existing investors. Under the terms of its IPO filing, the company may have to issue additional shares to certain pre-IPO investors if its valuation falls below agreed thresholds.