Cyprus Mail
In Brief Investment Watch

Construction sector on growth path

Construction output is expected to grow as building permits in 2017 by the authorities showed a 47 per cent increase, the statistics service Cystat said. The increase in building permits last year was mainly on an 81 per cent rise in the construction area of non-housing projects, to 372,806 square metres, accompanied by a 59 per cent increase in the value, to €380.7m, Cystat said. The number of hotels that were issued building permit rose to 24 from 19 while that of tourist apartments and villages fell from 35 to 26.

The construction area of housing projects that obtained a building permit last year rose 36 per cent, to 1,133,854, square metres while their value rose 40 per cent, to €1.2bn, Cystat said.

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