New Law Passed for Urban Redevelopment in Cyprus

The Ministry of Interior announced the passing of the bill for Urban Development Zones (Urban Redevelopment) by the Plenary of the Parliament. The new law aims to create land ready for development by consolidating and redistributing properties within development areas.

The reform is part of the Recovery and Resilience Plan and foresees the preparation of ten pilot urban redevelopment plans. The law seeks to provide solutions to issues of plots with multiple owners and to allow the creation of plots suitable for housing and infrastructure development.

The implementation of urban redevelopment will be carried out with the consent of the owners, by agreement with the Local Authority or by decree of the Council of Ministers.