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Budget of KOAG approved with focus on growing housing crisis

Published February 19, 2026, 17:08
Budget of KOAG approved with focus on growing housing crisis

The plenary session of the Parliament approved the balanced budget of the Cyprus Land Development Organization (KOAG) amounting to €41,956,346. The discussion focused on the growing housing crisis and proposals for long-term planning. Criticisms were expressed regarding the government’s handling of the situation, while MPs expressed different views on the role and effectiveness of KOAG in addressing the housing crisis. Solutions such as the creation of a Unified Housing Agency and a change in the social housing model were proposed. The President of the Parliament criticized the late submission of budgets by semi-governmental organizations.