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Cyprus EU Presidency Emphasizes Cohesion Policy For Economic Resilience

Setting A Focused Agenda

During the inaugural General Affairs Council on Cohesion Policy under the Cyprus EU Presidency, Finance Minister Makis Keravnos reinforced the pivotal role of cohesion policy in enhancing competitiveness and bolstering economic resilience across the European Union. In Brussels, Minister Keravnos highlighted the significance of Cyprus’ six-month tenure at the helm of the Council, marking a defining moment for strategic policy reform.

Cohesion Policy And Strategic Autonomy

Addressing colleagues upon his arrival, Keravnos stated, “It is a great pleasure for me to chair today’s meeting on Cohesion Policy, which is the first since Cyprus took over the Presidency.” He emphasized that an autonomous Union, open to the world, is built on the foundation of competitiveness and strategic economic resilience. This approach not only underscores the value of cohesion policy in the European agenda but also directly links it to the Union’s broader objectives of strategic autonomy.

Key Agenda Items And Future Directions

The Council’s discussions will center on two principal items. The first is the adoption of conclusions regarding cities and functional urban areas, which are seen as critical engines for economic, social, and territorial cohesion. The second focuses on the mid-term review of cohesion policy for the 2021-2027 programming period. This review aims to design stronger incentive frameworks and introduce greater flexibility for the next cycle, thereby ensuring closer alignment with the EU’s strategic priorities in a shifting economic and geopolitical landscape.

Toward An Enhanced Policy Framework

Experts anticipate that the meeting will further delve into bolstering the administrative and operational capacities of member states and regions. Additional discussions are expected to highlight targeted support for regions facing specific geographical and development challenges, including the EU’s eastern border areas. These measures aim to forge a more robust and agile policy framework, better equipped to navigate the uncertainties of the current global environment.

Cyprus Property Deals Reach €286 Million Despite Second-Quarter Uncertainty

Cyprus’ high-end property market remained active in the first half of 2026, although geopolitical uncertainty may have weighed on investment activity during the second quarter.

€286.4 Million Across The 50 Largest Deals

Property transactions worth a combined €286.4 million ranked among Cyprus’ 50 highest-value deals completed between January and June, according to real estate analytics firm Ask Wire.

Examining the country’s biggest sales across all districts, the report found that the 10 largest transactions alone accounted for €161.7 million, highlighting the concentration of activity at the upper end of the market.

Limassol Extends Its Lead

A €55 million sale involving a building and adjoining fields in Moni was the largest property transaction recorded during the period.

Six of the country’s 10 biggest deals took place in Limassol, with a combined value of €117.2 million. Paphos followed with three transactions worth €35.5 million, while Larnaca recorded one €9 million sale.

Across the broader ranking, Limassol’s 10 largest transactions reached €148.2 million, representing 51.7% of the total value of the top 50 deals. Paphos followed with €68.8 million (24%), while Nicosia recorded €26.7 million. Famagusta narrowly surpassed Larnaca, reaching €21.4 million compared with €21.2 million.

Land Continues To Drive High-Value Deals

According to Ask Wire CEO Pavlos Loizou, land acquisitions continue to dominate Cyprus’ largest property transactions.

“The land market dominates the list of the 10 highest-value property transactions, with seven sales involving fields and plots.”

Many of those sites are expected to be developed into luxury residential and hospitality projects, he added.

Office Demand Remains Strong

Growing demand for office space also reflects the expansion of international companies establishing operations in Cyprus, Loizou said.

“We continue to observe growing demand for office properties, reflecting the expansion of the new ecosystem of international companies that has been establishing itself in Cyprus in recent years.”

Eight of the 10 largest transactions were completed during the first quarter of 2026, with activity slowing in the following three months.

Loizou said the slowdown may reflect investor caution linked to the conflict in the Middle East, which appears to have influenced investment decisions during the second quarter.

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The Future Forbes Realty Global Properties
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Aretilaw firm

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