Cyprus Land Development Corporation announces expansion of affordable housing projects

Elena Koushou Hadjidemetriou, President of the Cyprus Land Development Corporation (KOAG), presented a report detailing the organization's evolving role as the executive arm of state housing policy. By the end of 2026, the corporation expects to deliver a total of 247 residential units across various housing schemes. Currently, 192 apartments are being developed for affordable rent, with 138 units in Limassol and 54 in Strovolos, supported by 28 million euros in state funding. In 2025, the Ianthi project in Larnaca was completed with 24 units, and the division of 137 plots was finalized across four districts. New construction has also commenced in Kokkinotrimithia, Polemidia, and several areas within Nicosia including Lakatamia and Kaimakli. Furthermore, KOAG plans to launch two additional affordable rent projects by 2026, one of which will be located in Limassol. The organization is also taking on new management responsibilities for state initiatives such as the Renovate-Rent scheme and affordable housing production incentives.