A new shopping center will be introduced to consumers of Northern Cyprus. The project named “Dream on the city” is the first of its kind in TRNC, and will house many worldwide fashion brands under one roof. The shopping center will accommodate four floors, 60 shops, fast food restaurant chains, children’s playground, A la Carte restaurant, banks, 6 escalators, 4 lifts, service lifts and private parking. Shops and other rooms will be rented after the construction completes in January 2014.
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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
The real estate market in Northern Cyprus is experiencing a decline in activity: the number of new projects is decreasing, and some have been completely frozen. According to data obtained from reliable sources, several contractors are facing difficulties in paying employees' wages, leading to mass layoffs in the construction sector.TRNC Minister of Public Works and Transport Erhan Arıklı Responds to "Palestinization of Cyprus" Claims
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.FOREIGN WORKERS IN THE TRNC NOW REQUIRED TO KNOW TURKISH
A new "Vocational Training Cooperation Protocol" has been introduced in Northern Cyprus, jointly developed by the Ministry of Labor and Social Security and the Ministry of National Education. The protocol establishes new criteria for the qualifications, skills, and experience required of foreign workers entering the TRNC. One of the key changes is that foreign workers will now be required to present an A2-level Turkish language proficiency certificate.
