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University Of Cyprus To Add 890 Temporary Parking Spaces

The University of Cyprus is creating three temporary parking areas on its campus, adding 890 spaces in an effort to address a longstanding parking shortage affecting students’ daily routines.

New Parking Areas To Ease Campus Congestion

Parking has been one of the university’s main day-to-day challenges for years, with students often arriving well in advance to secure a space. Poorly organised parking areas have also contributed to traffic congestion during peak hours and, in some cases, damage to vehicles.

According to Philenews, the project will cover three locations across the campus. One parking area will be created between the Library and the Senate building, another between Teaching Space 2 (ΧΩΔ 2) and the Sports Centre, while the third will be located east of the Sports Centre entrance, near the sports facilities. The latter has not previously been accessible to students and will now be adapted for parking.

Work To Be Completed By September

The €250,000 project, funded through the university’s budget, will include compacted gravel surfacing to create smoother and more functional parking areas, as well as drainage works designed to reduce mud, dust and uneven ground.

Two of the three parking areas are expected to be completed before the start of the new academic year, with the remaining site scheduled for completion by the end of September.

Although the spaces are intended as a temporary solution, they are expected to remain in use for at least two years, as any future redevelopment of the sites would require a planning process of similar length.

Permanent Parking Plans Also Underway

In the longer term, the university may repurpose the sites for new buildings or green and recreational spaces. It said future construction work is not expected to significantly affect student parking, as projects will not be carried out simultaneously across all three locations.

The university is also moving forward with plans to create 110 permanent parking spaces, with a tender expected to be issued in September. In addition, the existing 140 parking spaces are set to be reinforced, covered and equipped with solar panels.

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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