Cyprus Business Now

Cyprus-based property management company Altia on Wednesday announced that it will be managing a new real estate portfolio known as ‘Starlight’, which will be added to the existing portfolio managed by the company.

Moreover, Altia said the additional portfolio it will be managing will strengthen its position in the Cypriot real estate market.

Altia’s platform is set up to manage and monetise a diverse range of real estate assets through a unique portfolio that includes a wide range of options in investment, residential, agricultural, and commercial properties.

According to the announcement, the Altia team consists of more than 70 people with in-depth knowledge and experience in the market of real estate in Cyprus.

The company said that “the team works to cover the entire range of real estate processes beginning with the property search, the intermediate procedural/legal tasks, and culminating in the property sale”.

“Altia is a company that offers transparency and professionalism,” the company noted.

“The goal is always to ensure that its buyers find the ideal property that meets their needs,” it concluded.

The latest data published this week by the Cyprus Statistical Service (Cystat) reveals a decrease in government employment by 3.3 per cent in March 2023 compared to March 2022. Specifically, employment decreased by 1,778 people, reaching 52,103 in total.

The primary reason for this decrease, according to the Statistical Service, is the transfer of Hourly Staff from the Ministry of Health to the State Health Services Organisation. This organization is included in the Broad Public Sector, since January 2023.

As a result, there was a decrease of 20.1 per cent in Hourly Staff and in all categories of permanent staff. Meanwhile, there was an increase in all categories of temporary staff.

The data shows that the number of people employed as permanent staff decreased by 715, or 2.7 per cent, from 26,078 to 25,363 people. In temporary staff, there was an increase of 601 people or 3.1 per cent, reaching 20,125 compared to 19,524 people in March 2022.

The most significant changes were observed in the staff of the Public Service, where there was a decrease of 2.9 per cent in permanent staff and an increase of 5.2 per cent in temporary staff.

Compared to February 2023, there was a slight increase of 0.3 per cent in Government employment. The biggest increase was observed in the temporary staff of the Education Service, which increased by 2.6 per cent.

The Cyprus Stock Exchange (CSE) ended Wednesday, April 12 with profits.

The general Cyprus Stock Market Index was at 107.28 points at 13:36 during the day, reflecting an increase of 0.17 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 64.86 points, representing a rise of 0.17 per cent.

The total value of transactions came up to €37,187.

In terms of the sub-indexes, the main index rose by 0.09 per cent, while the investment firm and alternative indexes fell by 0.2 per cent and 5.41 per cent respectively. The hotel index remained unchanged.

The biggest investment interest was attracted by the Bank of Cyprus (+0.39 per cent), Hellenic Bank (+2.42 per cent), Louis PLC (+8.19 per cent), and Demetra Holdings (-5.66 per cent).