Philenews

244 New Housing Units to be Delivered by KOAG by End of 2026

Published February 9, 2026, 17:23
244 New Housing Units to be Delivered by KOAG by End of 2026

The Cyprus Land Development Organization (KOAG) is expected to deliver 244 new housing units by the end of 2026. This was announced by the organization's Director-General, Eleni Symeonidou, during the discussion of KOAG's budget at the Parliamentary Committee on Finance. The 2026 budget forecasts revenues of €41,949,400 and expenditures of €41,956,346, with revenues primarily coming from housing sales and urban incentives. The capital expenditure amounts to €33 million and concerns the construction of housing units in various areas of Cyprus, such as Kokkinotrimithia, Larnaca, Nicosia and Limassol, as well as the division of plots. Specifically, this includes 48 units in Kokkinotrimithia, 24 in Agios Nikolaos, 54 for affordable rent on Spyrou Kyprianou Avenue, and other units in Polemidia, Kaimakli, Aglantzia, Agios Domettios, Lakatamia and Palouriotissa. The Parliamentary Spokesperson of DIPA, Alekos Tryfonidis, expressed his full support for KOAG, which he described as the executive arm of the state's housing policy. He noted that the organization operates with three main pillars: traditional housing construction, construction of affordable rental housing, and management of housing schemes based on urban incentives. Furthermore, he referred to the planned construction of 138 affordable rental units in Limassol, in cooperation with the Municipality, as well as the project of 54 housing units in the Municipality of Strovolos. Finally, Mr. Tryfonidis mentioned that the 500 houses announced by the President will also be for affordable rent, through the design and build method from the private sector.