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Cyprus Real Estate Market Surpasses €2 Billion in Transactions Amid Global Challenges

The Cyprus real estate market has demonstrated remarkable resilience, recording €2 billion in transactions by mid-2024, according to a recent report by Delfi Partners & Company. Despite global economic uncertainty, the sector remains a pillar of stability, bolstered by robust local activity and a steadying inflation rate.

“Strong domestic engagement and stabilizing economic factors have enabled the market to adapt and thrive, even in the face of broader challenges,” the report highlighted.

A notable indicator of the sector’s strength is the 32.5% year-on-year surge in building permits during the first half of 2024, reflecting a vibrant development landscape. However, delays stemming from recent municipal reforms are expected to temper growth in the latter half of the year, potentially slowing the approval of new permits.

Real estate sales to local buyers saw a 13% increase from January to September 2024 compared to the same period in 2023. This uptick in domestic activity helped offset a 13.4% decline in sales to international buyers, attributed to ongoing geopolitical tensions and global economic uncertainties.

Despite the drop, international investors still made up 44% of total real estate sales, underscoring Cyprus’ enduring appeal as a prime investment hub.

“The market is shifting, with local buyers playing a more prominent role while international interest, though diminished, remains significant,” said Michalis Loizou of Delfi Partners & Company. “This evolution highlights the adaptability of Cyprus’ real estate sector, which continues to present opportunities despite global headwinds.”

The report also noted that by mid-2024, transaction values had exceeded pre-pandemic levels, with the average property deal reaching €340,790—higher than in 2019.

Geographically, Limassol maintained its lead as the busiest district for real estate activity, contributing 32% of total sales. It was followed by Nicosia with 22% and Larnaca with 21%.

Looking ahead, Delfi Partners projected continued growth for the Cypriot economy, aided by stable inflation and potential interest rate cuts. “With these factors in play, along with the dynamic real estate sector, Cyprus remains an attractive destination for investors seeking stability and growth in a competitive market,” the report concluded.

Forbes Middle East Unveils 100 Most Powerful Businesswomen Of 2025

Forbes Middle East has unveiled its much-anticipated 2025 ranking of the region’s top businesswomen, spotlighting influential leaders reshaping industries and driving meaningful transformation. The list was based on business size, individual accomplishments, leadership impact, and corporate social responsibility initiatives.

Top Spot For Hana Al Rostamani

For the third consecutive year, Hana Al Rostamani, Group CEO of First Abu Dhabi Bank (UAE’s largest bank by assets), claims the top position. In addition to retaining her position in the Forbes Middle East ranking, she was also featured on Forbes’ 2024 list of the World’s Most Powerful Women, securing the 60th position globally. Under her leadership, the bank achieved an impressive $3.5 billion in net profits and $334.8 billion in assets in the first nine months of 2024.

Rising Stars In The Top 10

Shaikha Khaled Al Bahar of NBK Group and Shaista Asif, cofounder and Group CEO of PureHealth Holding, take the second and third spots respectively, completing the top three.

The top 10 remains largely unchanged from last year, with Tayba Al Hashemi of ADNOC Offshore, Alisha Moopen of Aster DM Healthcare GCC, and Suzanne Al Anani of Dubai Aviation Engineering Projects (DAEP) making their debut in the top 10. In total, 27 new leaders have joined the list this year.

A Diverse And Powerful Group Of Women

This year’s list features 100 women from 32 sectors and 29 nationalities, underlining the diversity of talent driving the region’s progress. The banking and financial services sector leads with 25 entries, followed by healthcare and technology with nine each, and venture capital with five. Remarkably, 40% of the top 10 women are from the banking and financial services sector. Notably, Shaista Asif (PureHealth Holding) and Alisha Moopen (Aster DM Healthcare GCC) are the only non-Arab women in the top 10.

UAE Leads With 46 Leaders

The UAE continues to dominate, with 46 of the women on the list hailing from the country, solidifying its status as a global business hub. Egypt follows with 18 influential women, and Saudi Arabia claims nine entries. Egyptians lead in representation, followed by Emiratis and Lebanese women.

Empowering Women Through Initiatives

Several of the leaders have focused on upskilling and creating opportunities for women. Susana Rodriguez Puerta launched the ‘sAIdaty’ initiative in collaboration with the Dubai Business Women Council, aimed at providing 500 female council members in the UAE with AI skills. Similarly, Lamia Tazi of SOTHEMA collaborated with the Foundation for Research, Development, and Innovation in Science and Engineering to provide scholarships to PhD students from low-income backgrounds.

Click here for the full list.

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