The government's two new housing plans, which were announced yesterday, were explained on the Morning Schedule by Interior Minister Konstantinos Ioannou.
As he said, approximately 500 residential units will be constructed in Nicosia, Limassol, Paphos and Larnaca, which will be allocated based on social and economic criteria, with priority given to young people and young families.
According to Mr. Ioannou, the project, with a total cost of approximately 70 million euros, will be financed by state resources and European funds.
The construction will not be carried out by the state, but through tenders to the private sector and by utilizing the know-how and experience of KOAG.
Already, the Minister of Interior said, pieces have been identified in areas such as Geri, Lakatamia, Amathus, Kourion, Voroklini, Achna and Geroskipou.
According to the schedule, work is expected to begin in 12 to 18 months, while completion is estimated at approximately 18 to 20 months from the start of work.
Referring to the plan for the construction of collective accommodation units, Mr. Ioannou said that the goal is to strengthen the labor market and meet the housing needs of workers from third countries.
As he explained, the cost is covered by private individuals while the state is proceeding with significant urban planning relaxations, allowing entrepreneurs to create student dormitory-type units.
Source: riknews
