Cyprus Times

Cyprus Land Development Corporation Budget Approved Amid Housing Crisis Debate

Published February 19, 2026, 17:06
Cyprus Land Development Corporation Budget Approved Amid Housing Crisis Debate

The plenary session of the House of Representatives approved the balanced budget of the Cyprus Land Development Corporation (CLDC) amounting to €41,956,346. The discussion focused on the growing housing crisis and proposals for long-term planning. MPs expressed criticism of the government's handling of the issue, while others praised the CLDC's role in addressing the housing crisis. The budget includes expenses for personnel, loan repayments, and the implementation of housing schemes such as “Renovate-Rent”. The President of the House criticized the late submission of budgets by semi-governmental organizations.