Imperio Group pays financial compensation to Cyprus Land Development Corporation

On March 24, 2026, the Imperio Group presented a check for €1,980,450 to the Cyprus Land Development Corporation (KOAG). This payment serves as financial compensation mandated by the Planning Authority for the approval of a residential development project. The project utilized the Special Housing Incentive Scheme for Affordable Housing Production, which grants developers enhanced building rights in exchange for such contributions. Founder and Chairman Yiannis Misirlis and CEO Nicholas Ayiomamitis represented Imperio, describing the payment as a strategic effort to support affordable housing. KOAG President Theseas Ioannou accepted the payment and noted it would be used to strengthen the organization's affordable housing strategy. The funds are intended to help young people and families acquire their own residences. Both the private and public sector representatives highlighted this cooperation as a means to address the ongoing housing crisis.