The Cyprus Chamber of Commerce and Industry (Keve) and the Cyprus Land Development Organisation (Koag) on Thursday announced the signing of a memorandum of cooperation aimed at strengthening housing and land development policies.

According to the announcement, “the agreement marks the start of a new strategic partnership focused on housing and sustainable development, with both organisations seeking to support national policy objectives”.

It further explained that memorandum establishes a framework for cooperation between the two bodies, enabling structured collaboration on key economic and development issues.

Under the agreement, the two sides will promote the exchange of expertise and information, aiming to improve policy formulation and implementation.

They will also work on joint policy proposals, as well as organise common initiatives and consultations with the business community and other stakeholders.

Particular emphasis is placed on linking housing policy with the needs of the real economy, reflecting growing pressures in the labour and property markets.

The cooperation will also explore solutions for affordable housing, especially in areas facing increased demand and supply constraints.

In addition, the initiative aims to support the workforce through improved housing access, recognising its importance for economic stability and growth.

Within the framework of the agreement, Keve will play an advisory role representing the business community, conveying its needs and positions on development issues.

At the same time, Koag will retain its executive role in implementing housing and development projects, ensuring continuity in its operational mandate.

The two organisations said the partnership is expected to contribute to sustainable development, while also supporting broader economic objectives.

They added that the initiative “will help enhance the competitiveness of the economy, aligning housing policy with growth strategies“.

At the same time, the cooperation is seen as “a step towards promoting social cohesion“, particularly through improved access to housing.