THE theme of the five-day congress is the influence of culture and civilization on real estate and business leaders from the global real estate sector will exchange views on how to realize sustainable development and assess risks and market confidence.
In a written message to the Congress, Cypriot President Demetris Christofias hoped that the international event will provide numerous opportunities for business development and networking.
Addressing the meeting Cypriot Interior Minister Neoclis Sylikiotis said that the Congress is unprecedented for Cyprus as the island plays a very important role in real estate transactions.
In his address, Mr Sylikiotis recalled that the Parliament has approved four bills reforming the legal framework governing the licensing of development projects and the issue of Title Deeds. These developments will restore Cyprus’ good name internationally and will give a new boost to development and the real estate market, creating healthy and secure conditions for future customers, both local and foreign.
He said that the mechanisms incorporated in the bill have allowed the issue of approximately 25,000 Title Deeds since June 2009, while the town planning authorities have managed to issue town planning licenses for normal scale developments within three months.
Mr Sylikiotis also noted that a review of the town planning zones in progress and that this will create a new environment regarding development and real estate market throughout Cyprus.
FIABCI President Dinos Michaelides said “We are all very honoured by the awarding of the annual World Congress in our small country” adding that it will not only highlight Cyprus but would attract further investment from the delegates, who have invested in Congress host countries in the past.
The FIABCI World Congress will continue until 21st May.