The number of Management Companies and Undertakings of Collective Investments (UCIs) in Cyprus stood at 323 during the third quarter of 2024, according to the Cyprus Securities and Exchange Commission (CySEC).

Total Assets Under Management (AUM) reached €9.1 billion, recording a decrease of 2.43 per cent since the second quarter of 2024.

When compared to the same period in 2023, there was an increase of 6.08 per cent.

Furthermore, the UCIs, managed by the Management Companies, had a Net Asset Value (NAV) of €8.7 billion.


A proposed law aims to tackle the issue of unlicensed hotels and tourist accommodations in Cyprus by offering a temporary operating licence for up to six years.

Currently, just 12.69 per cent of hotels and accommodations are licensed, with only 48 hotels and 46 tourist establishments officially registered.

This follows the failure of previous legislation to resolve the issue, leaving many businesses still operating without the necessary certification.


The Cyprus Securities and Exchange Commission (CySEC) on Friday hosted an online event to Alternative Investments Funds Managers (AIFMs).

The event focused on the technical and regulatory aspects of AIFMD reporting, allowing the commission to highlight some key changes that will come into force in 2026, with the introduction of AIFMD II.

The meeting, hosted by Panikkos Vakkou, Vice Chair of CySEC, alongside staff from CySEC’s Supervision and IT Departments, featured presentations that explored both the technical and regulatory aspects of AIFMD Reporting while offering practical insights into its application.

“The monitoring of AIFMD Reporting obligation is among the key supervisory priorities of CySEC and high-quality data is an essential component of effective supervision which creates safe and effective markets,” the commission said.


Cyprus has seen significant rise in foreign property purchases in recent years, with more than 37,000 properties sold to foreign buyers between 2021 and the end of 2024.

Specifically, property sales to foreign buyers surged in all districts, according to data from the Department of Lands and Surveys (DLS). This was shared with the House of Representatives by Interior Minister Constantinos Ioannou.

According to the data, buyers from the United Kingdom lead the charge, followed by Russians, Israelis, Greeks, and Lebanese.

Meanwhile, Cypriots have purchased more than 200,000 properties during the same period.


Hellenic Bank on Friday issued a warning to its customers to remain vigilant against phishing scams, following a resurgence of fraudulent activities targeting its clients.

The bank said that fraudsters have been impersonating Hellenic Bank through emails and text messages, acting as if they are part of its customer service department.

These messages typically urge recipients to update their personal details through a provided link, which directs them to a counterfeit webpage mimicking the official login page of Hellenic Bank’s online banking platform.

“This is a scam,” the bank stated, urging customers to exercise caution in their online activities.

“We will never ask our customers to update their personal details or disclose sensitive information via a link,” the bank said in its statement.


Drilling work has begun in Block 5 of Cyprus’ exclusive economic zone (EEZ), President Nikos Christodoulides announced on Friday.

According to a post on social media platform X, drilling began Friday morning in Block 5’s gas reservoir named Electra, carried out by American multinational corporation ExxonMobil and QatarEnergy.

“Cyprus is proceeding with research activities, aiming to become an alternative and reliable source of Natural Gas for the EU,” Christodoulides said.

Cyprus issued a Navtex on Sunday in relation to the start of drilling at the Electra field.

According to the Joint Rescue Coordination Centre (JRCC), the Navtex came into force on January 19 and will remain in force until June 19, 2025 with the drillship the Valaris DS-9 conducting the operations.


Building permits in Cyprus saw a significant drop in August 2024, with only 183 permits granted, compared to 450 in the same month in 2023, according to data from the Cyprus Statistical Service (Cystat).

The decrease comes following the transfer of responsibility for issuing building permits from municipalities and provincial administrations to the newly establishedself-governance districit organisations (Eoa) as of July 1, 2024.

The total value of permits issued in August 2024 was €87.4 million, covering 66,200 square metres and allowing for the construction of just 323 residential units.

The service mentioned that the sharp drop in permits for the month of August is “largely attributed to the authorities’ effort to process a high volume of applications ahead of the transfer of authority.”

The statement continued that “this pattern was also observed in July 2024, when building permit issuance was similarly affected by the transition.”


A new hotel is to open on Nicosia’s Makarios Avenue, according to reports.

The new hotel will be built in the former Laiki Bank building, which is located next to the National Bank of Greece.

The hotel will have a total of 168 rooms and will be owned by the Israeli Fattal Group, which is rapidly expanding its hospitality investments in all parts of the island.

It recently acquired the iconic Grand Resort hotel in Limassol and other hotel units in that district, as well as in Paphos, Larnaca, and Protaras.

Meanwhile, a second hotel is planned to be built on Nicosia’s Arnaldas street, which runs between Makarios Avenue and Stasinos Avenue. That hotel is set to have a capacity of 70 beds, and will be owned by a different investor.


The Cyprus Stock Exchange (CSE) ended Friday, January 24, with gains.

The general Cyprus Stock Market Index stood at 226.29 points at 12:53, reflecting a rise of 0.52 per cent.

The FTSE / CySE 20 Index was at 137.44 points, representing an increase of 0.47 per cent.

The total value of transactions came up to €240,977, until the aforementioned time during trading.

In terms of the sub-indexes, the main and alternative indexes rose by 0.51 per cent and 0.41 per cent respectively. The hotel and investment firm indexes remained unchanged.

The biggest investment interest was attracted by the Bank of Cyprus (+1.4 per cent), Demetra (-0.3 per cent), Salamis Tours (+1.43 per cent), Woolworth Cyprus Properties (+6.32 per cent), and the Cyprus Cement Company (no change).