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While construction activity across the European Union saw a sharp slowdown in June, Cyprus is entering the period from a comparatively strong position, supported by a substantial pipeline of projects and rising demand.
Cyprus' Scientific and Technical Chamber (Etek) has urged the labor minister to implement immediate measures to address severe labor shortages in the construction sector. The shortages are causing project delays and increasing building costs.
The Cyprus construction industry is seeking closer collaboration with the government, following a working meeting organized by the Federation of Building Contractors Associations of Cyprus.
A five-year pre-trial investigation into alleged corruption in Vilnius's territorial planning and construction sector has concluded, with charges filed against nine individuals.
Cyprus's construction sector experienced significant growth in 2024, with value added increasing by 10.7% and employment rising to 39,700 workers, solidifying its role as a key economic pillar.
Cyprus's trade sector turnover hit €20.30 billion in 2024, demonstrating significant economic activity. However, the construction sector is facing challenges with a 4.7% price hike due to rising costs.
Cyprus's construction sector is facing significant challenges, including regional instability, persistent labour shortages, and delays in licensing, prompting calls for closer coordination among stakeholders and the state.
The construction employers’ association Oseok in Cyprus has condemned illegal practices within the sector and issued a warning about severe and growing staff shortages that are impacting the industry.
Cyprus' real estate sector continued to expand sharply in February, with building permits recording strong growth across most categories, indicating a broader pipeline of residential development.
A ban on DJI drones is reportedly causing significant disruption within the United States construction sector.