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Geroskipou’s New Skyline: A Church-Initiated Luxury Development

by News Editor

May 2, 2025

In a significant move for the Cypriot real estate market, the Archbishopric of Cyprus has launched a public tender for an ambitious development in Geroskipou, located in the thriving region of Paphos. Officially announced on April 28, 2025, the project calls for the lease and development of two prime land parcels.

cover Church announces tender for luxury hotel and residential towers in Geroskipou

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Project Overview

This strategic venture includes plans for the construction and operation of a state-of-the-art five-star hotel boasting 236 luxurious beds. In addition, two striking twelve-storey residential towers will rise, offering a total of 122 stylish apartments.

What’s Next for Local Real Estate?

The introduction of this project is set to transform the local real estate landscape. The church’s strategic initiative not only enhances Geroskipou’s appeal but also raises the bar for future developments in the region.

Explore solutions for stranded property buyers in Cyprus for further insights on how the real estate market is evolving.

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Cyprus Government Moves to Cut Electricity Prices

by THEFUTURE.TEAM

May 13, 2025

According to the government spokesman Konstantinos Letymbiotis, the Electricity Authority of Cyprus (EAC) and the energy regulator are set to meet this week to discuss a formula to lower the price of electricity.

This development comes from President Nikos Christodoulides’ remarks over the weekend, where he urged the EAC not to increase electricity rates. Christodoulides confirmed that he had a meeting with the EAC, asking them not to impose any increases at this juncture.

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The government spokesman emphasized that the current administration is committed to bringing down the price of electricity in any way possible. Letymbiotis noted that the state-run power utility and the regulator would make their own assessments based on the wider direction of the government regarding reductions in the coming time period.

It is worth noting that Cypriots pay the second-highest rates for electricity in Europe when adjusted for spending power, according to Eurostat data released last week. Only consumers in the Czech Republic paid more for their household energy bills than those in Cyprus.