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Cyta Seeks Visionary Leadership in New Era of Telecommunications

The Cyprus Telecommunications Authority (Cyta) has embarked on a transformative journey by launching its search for a new chief executive officer. This move signals the beginning of what the authority describes as a ‘new era’ that aims at fortifying its strategic direction, operational efficiency, and its pivotal role in driving technological progress within Cyprus’s vibrant digital economy.

Defining the Future of Leadership

In its recent announcement, Cyta outlined that the incoming CEO will be charged with guiding the organization through a rapidly evolving telecommunications landscape. The successful candidate is expected to exhibit a blend of vision, strategic thinking, and formidable leadership skills. As the industry navigates unprecedented challenges and opportunities, the role is central to reinforcing Cyta’s commitment to innovation and digital transformation.

Context and Governance Considerations

The search for a new leader follows the departure of former CEO Andreas Neocleous, whose resignation on September 12, 2025, left a significant leadership void. This leadership transition comes amid ongoing debates about restructuring Cyta’s governance model. The Cypriot telecommunications trade union, Epoet, has notably called for the appointment of an executive chairman with reduced CEO powers to ensure a balanced interplay between executive leadership and board oversight.

A Call for Transparent and Meritocratic Processes

In its call for applications, Cyta emphasized the importance of transparent recruitment practices and competitive remuneration aligned with performance metrics. The union has been vocal about the need to fill the CEO position only after legislating the role of an executive chairman—an initiative aimed at preventing past conflicts between the board and leadership. Advocates argue that such reforms are critical for sustaining Cyta’s robust performance and its substantial annual turnover of nearly half a billion euros, along with a workforce of approximately 2,100 employees.

Looking Ahead

This leadership search represents more than a routine executive appointment; it is a definitive stride towards recalibrating a legacy organization for future challenges. With an eye on fostering both strategic innovation and prudent governance, Cyta appears well-positioned to navigate the competitive telecommunications landscape and contribute decisively to Cyprus’s ongoing digital evolution.

Cyprus Residential Market Surpasses €2.5 Billion In 2025 With Apartments Leading the Way

Market Overview

In 2025, Cyprus’ newly built residential property market achieved a remarkable milestone, exceeding €2.5 billion. Data from Landbank Analytics indicates robust activity countrywide, with newly filed contracts reaching 7,819, including off-plan developments. This solid performance underscores the market’s resilience and dynamism across all districts.

Transaction Breakdown

The apartment sector clearly dominated the market, constituting 81.6% of transactions with 6,382 deals valued at €1.77 billion. In contrast, house sales represented a smaller segment, encompassing 1,437 transactions and generating €737.9 million. The record-high transaction was noted in Limassol, where an apartment sold for approximately €15.2 million, while the priciest house fetched roughly €6.2 million.

Regional Analysis

Nicosia: The capital recorded steady domestic demand with 2,171 new residential transactions. Apartments accounted for 1,836 deals generating €349.6 million, compared to 335 house transactions worth €105.5 million, anchoring Nicosia as a core market with average values of €190,000 for apartments and €315,000 for houses.

Limassol: As the island’s principal investment center, Limassol led overall activity with 2,207 transactions. Apartments dominated with 1,936 sales generating €824.1 million, while 271 house transactions added €157.9 million. The district enjoyed premium pricing, with apartments averaging over €425,000 and houses around €583,000.

Larnaca: This district maintained robust activity with a total of 2,020 transactions. The apartment segment realized 1,770 transactions worth €353 million, and houses contributed 250 deals valued at €96.3 million. Average prices hovered near €200,000 for apartments and €385,000 for houses, positioning Larnaca within the mid-market bracket.

Paphos: With a more balanced mix, Paphos completed 1,078 transactions. Ranking second in overall value at €503.2 million, the district saw house sales generate €287.8 million and apartments €215.4 million. Consequently, Paphos achieved the highest average house price at approximately €710,000 and an apartment average of €320,000, emphasizing its premium housing profile.

Famagusta: Distinguished by lower transaction volumes, Famagusta was the sole district where house sales outnumbered apartment deals. Out of 343 transactions, 176 involved houses (yielding €90.4 million) and 167 were apartments (at €32.4 million). The segment’s average prices were about €194,000 for apartments and over €513,000 for houses, signaling its focus on holiday residences and coastal developments.

Sector Insights and Forward View

Commenting on the report, Landbank Group CEO Andreas Christophorides remarked that the analysis demonstrates an ecosystem where apartments are the cornerstone of the real estate market. He emphasized, “The apartment sector is not merely a trend; it is the engine powering the country’s real estate market.” Christophorides also highlighted the diverse regional dynamics: Limassol leads in apartment pricing, Paphos commands premium house prices, Nicosia remains pivotal to domestic demand, Larnaca sustains competitive activity, and Famagusta caters to holiday home buyers.

In a market characterized by these varied profiles, informed monitoring of regional and sector-specific dynamics is crucial for investors aiming to make targeted and strategic decisions.

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