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Limassol Begins €9.2 Million Water Network Upgrade

Limassol has launched a €9.2 million project to replace around 100 kilometres of ageing water pipelines, to improve water quality, reduce leaks and lower maintenance costs.

Funded through the EU-co-financed THALIA 2021-2027 Cohesion Programme, the project will modernise the city’s water infrastructure and serve around 40,000 residents across central Limassol.

Two-Year Infrastructure Upgrade

Speaking at the launch ceremony, Limassol District Local Government Organisation (EOA) President Yiannis Tsouloftas said the investment represents an important step in upgrading essential public infrastructure.

“This project modernises and strengthens our water supply network. It will improve residents’ daily lives while supporting Limassol’s continued development,” he said.

Construction is expected to take 24 months, with completion scheduled for summer 2028.

Coverage Across Central Limassol

The new network will extend for approximately 100 kilometres, covering 220 streets across an area of about 2.6 square kilometres.

Works include the installation of new pipelines using modern materials, excavation and backfilling, as well as the restoration of roads and pavements once construction is complete.

The upgrade will cover the Enaerios area, Makarios III Avenue, the Garillis river corridor, the Tessera Fanaria neighbourhood, Pentadromos and Anexartisias Street before reaching the seafront.

Cyprus Loan Growth Accelerates To 14% In September

Lending in Cyprus accelerated in September, with the annual growth rate of total loans reaching 14%, up from 11.8% in August. Deposits also recorded a stronger monthly increase, according to the Central Bank of Cyprus (CBC).

Total deposits rose by a net €697.1 million to €60.2 billion at the end of September. Total loans increased by €857.8 million to €29.6 billion, according to the CBC’s October 2026 Monetary and Financial Statistics.

Deposit Growth Strengthens

Deposits recorded a monthly increase of €697.1 million, more than four times the €171.5 million rise in August. However, the annual growth rate remained unchanged at 6.5%.

Deposits held by Cyprus residents increased by €639.9 million. Household deposits rose by €93.8 million, while deposits held by non-financial corporations grew by €373 million. Other domestic sectors contributed a further €173.1 million.

Annual Loan Growth Reaches 14%

Total loans increased by a net €857.8 million in September, compared with €114.6 million in August. The annual growth rate accelerated to 14%, up from 11.8% a month earlier.

Lending to Cyprus residents rose by €470.8 million. Loans to households increased by €52.2 million, while lending to non-financial corporations grew by €110.1 million. Other domestic sectors recorded a larger increase of €308.5 million.

The figures cover deposits and loans held by monetary financial institutions in September 2026.

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