Cyprus Building Permits Soar 44.1% In First Quarter As Project Pipeline Expands

Cyprus recorded a sharp increase in building permits during the first quarter of 2026, pointing to continued momentum in the country’s construction sector despite rising development costs.

Permits Jump On Robust Project Pipeline

According to the Statistical Service of Cyprus (Cystat), the number of building permits issued between January and March rose 44.1% year on year to 2,276, compared with 1,580 in the same period of 2025.

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March accounted for 776 permits with a combined value of €433.1 million and a total authorised floor area of 353,900 square metres. The permits cover the construction of 1,940 housing units.

Value, Floor Area And Housing Units All Advance

Growth extended across all key indicators during the first quarter.

The total value of permits increased by 41.6% year on year, while authorised floor area expanded by 40.2%. The number of approved housing units recorded the strongest increase, rising 58.4% compared with the first quarter of 2025.

Building permits are generally viewed as a leading indicator of construction activity, as they typically precede new development projects by several months.

Construction Activity Continues To Expand

The latest figures are broadly consistent with other recent indicators from Cyprus’ construction sector.

Earlier Cystat data showed that the Index of Production in Construction rose 0.7% year on year in the first quarter of 2026. At the same time, the Output Prices Index increased 3.0% from the previous quarter and 4.7% compared with a year earlier, highlighting continued cost pressures across the industry.

Housing Market Remains Supportive

The construction pipeline has also been supported by resilient demand in the residential property market.

According to Eurostat, house sales in Cyprus increased by 3.8% in 2025 after declining 1.1% in 2024. Rental prices also continued to rise during the first five months of 2026, while house prices increased 1.6% quarter on quarter in the first three months of the year.

Taken together, the latest data suggest that construction activity remains on an upward trajectory, although developers continue to face higher building costs alongside growing project volumes.

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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.

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