A new grand project of Girne American University, valued at 140 million euros, to be built in the suburbs of Girne, Karaoglanoglu. In accordance with the general plan, the project will include a new hospital, built according to the latest European standards, a rehabilitation center, hotel, shopping mall, which will include at least 100 stores, an aqua park, and authentic Cypriot village, where visitors can purchase traditional local products. Territory of the complex will take 65000 sq.m, but 20% of the site will remain undeveloped and sustain a green area. Developers are adding the last touches to the project and will submit it for approval to Vakiflar over the next 3 months.
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New Work Permit Regulations Come into Effect for Foreign Nationals
The Ministry of Labor and Social Security has announced new requirements for employers applying for work permits for third-country nationals. Starting February 25, 2025, employers will be required to submit a security deposit of 250 euros and provide a notarized undertaking. This regulation is based on Article 34 of the Regulation on Work Permits for Foreigners under Law No. 63/2006.A New Mortgage Loan Program Launched in K.K.T.K.
A new mortgage loan program has been launched in K.K.T.K. for citizens who do not have registered housing in their name, their spouse’s name, or their children under 18. The program is intended for families with an income of up to 250,000 Turkish lira and offers favorable conditions.Decline in the Northern Cyprus Real Estate Market: Challenges and Future Prospects
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The idea of the "Palestinization" of Cyprus (derived from the word "Palestine") is used in a propagandistic context, implying that the situation in Northern Cyprus is allegedly following the scenario of Palestine. This expression suggests that foreigners (in this case, Israelis) are massively purchasing land and real estate, which could lead to changes in the region's demographic composition and the weakening of the local population's position.
