Filenews 19 October 2025 - by Charalambos Zakos
The establishment – consolidation of the profession of Land Development Entrepreneur is promoted by the Cyprus Real Estate Development Association and has already submitted a specific proposal to the Ministry of Interior for this purpose.
The Association, which as it states represents 80% of the market through its 50 members, emphasizes that the regulation will enhance transparency, shield the interests of buyers and strengthen the credibility of the sector, creating for the first time an organized, healthy and controlled operating framework in the Cypriot real estate market.
In addition to the members of the Association, the Cyprus Scientific and Technical Chamber (ETEK), as well as legal advisors, participated in the consultations for the preparation of this draft law.
As they add, the institutionalization of the profession of Land Development Entrepreneur is necessary and will help in the efforts to strengthen transparency, reliability and professional responsibility in the field of real estate development, adding that through their proposal, if it is implemented, the rules and conditions for the correct and responsible exercise of the profession will be clearly defined.
What does the proposal provide?
According to the proposal, the establishment of a "Council for the Registration and Control of Land and Building Development Entrepreneurs" is foreseen, which will have a key role in the regulation and control of the profession.
The President of the Council will be from the civil service and will hold a diploma in a specialization relevant to the sector. The Council will be responsible for ensuring transparency, accountability and respect for the rules governing the sector.
At the same time, according to the Association, the draft law introduces clear criteria for registration in the Register of Registered Entrepreneurs, with the aim of ensuring that only those who meet the required conditions will be able to operate in the sector.
In this way, as conveyed by the Association:
-The quality of the services provided is enhanced.
-The responsibility of the professional activity is ensured.
-The interests of buyers are protected.
-A climate of trust is cultivated in the real estate market.
The minister is positive, says the Association
As reported by the Real Estate Development Association, during its meeting with the Minister of the Interior, in May 2025, they recorded that there was a positive attitude from Konstantinos Ioannou regarding the necessity for the institutionalization of the profession.
In fact, as they note, his intention to support the Association's proposal was confirmed by his decision to set up a special working group, which includes officials of the Department of Lands and Surveys, as well as members of the Cyprus Real Estate Development Association.
What applies – What changes
"F" addressed questions to the Cyprus Real Estate Development Association, in order to clarify the framework that is currently in force, what is changing, who is affected, as well as to provide more details about who will be involved, in case the proposal is implemented and how it will help property buyers, the market and the entrepreneurs themselves.
–What is the case today? Can anyone be called a land development entrepreneur?
Today there is no specific legislative framework that determines who can practice the profession of land and construction development entrepreneur in Cyprus. This means that, in practice, any natural or legal person can be active in the development and sale of real estate, without the need for specific qualifications, experience or professional certification.
The initiative of the Cyprus Real Estate Development Association seeks precisely to fill this gap, establishing for the first time the profession of Land and Building Development Entrepreneur and setting specific conditions for its practice.
With the institutionalization of the profession, the development of immovable property for commercial exploitation will be allowed only to persons (natural or legal) who are registered in the Register that will be kept by the competent Council.
The new law will also explicitly prohibit anyone who is not a registered land developer from engaging in such activity or using the title "land development entrepreneur."
– Are there estimates for the number of people who are active as land development entrepreneurs?
At the moment there is no official record of the total number of people who are active as land and construction development entrepreneurs on a nationwide scale. Our Association currently has 50 members, which are the largest land and construction development companies in Cyprus and represent over 80% of the real estate market in the country. However, it is estimated that the total number of professionals active in the sector is significantly higher.
The absence of an institutional framework and a Registry makes it difficult to make an accurate assessment, which further underlines the need for the regulation proposed by our Association.
With the establishment of the Land Development and Building Entrepreneur Registration and Control Council, the accurate registration of professionals will be ensured for the first time, which will contribute to transparency, credibility and the upgrading of the profession.
How will this regulation benefit the state and the citizens?
The establishment of the Land and Building Development Entrepreneur will have multiple benefits for both the state and the citizens.
For the state, the establishment of a clear institutional framework will create conditions of transparency, control and accountability in a sector that plays a decisive role in the Cypriot economy.
Through the establishment of the Registration and Control Council, it will be possible to officially register all professionals in the sector, to apply rules and operating standards, but also to supervise activities more effectively.
This means better market organisation, curbing unfair practices and enhancing credibility.
For citizens and especially property buyers, this regulation translates into greater security and trust. Each buyer will know that he is working with a licensed and regulated professional, who meets specific criteria and operates on the basis of rules of professional ethics. In this way, the interests of citizens are safeguarded and overall confidence in the real estate market is strengthened.
In the final analysis, the institutionalization of the profession contributes to the creation of a healthier, organized and reliable operating framework of the sector, for the benefit of all.
What criteria must someone meet to register in the Register?
For registration in the Register of Registered Entrepreneurs maintained by the Council, the draft law introduces clear registration criteria, based on high professional standards.
In particular, in order to register, the interested party must be engaged or intend to deal with the development of real estate and have an office properly staffed and equipped, which is mainly used to carry out his work. It is also required to employ or be contracted with a design and project supervision office registered with the Cyprus Scientific and Technical Chamber (ETEK) and with at least one designer registered with ETEK.
The applicant must also permanently employ an experienced real estate salesman as well as a civil engineer, architect or appraiser member of the Chamber (ETEK), while the obligation to appoint a qualified auditor is also provided. In addition to these criteria, the applicant must have proven experience in the field.
As long as one meets all other criteria but does not have the required experience, they can register as a probationary land development entrepreneur for a period not exceeding three years.
Will anything fundamentally change with the institutionalization of the profession? Will someone be able to continue building or bidding on projects or houses without being registered in the Registry or will they be excluded from such activities?
Yes, the change will be substantial and decisive for the profession. With the enactment of the law, registration in the Register is not a formal procedure, but a prerequisite for the legal exercise of the profession. Anyone who is not registered will not be able to carry out land development projects, promote or sell real estate for commercial exploitation or present themselves as an entrepreneur in the sector.
At this point, it is important to clarify that the proposed bill concerns exclusively land development professionals and not building contractors, who submit bids for the construction of projects. Different legislation applies to them and a separate Register is kept.
Finally, it is worth noting that the draft law submitted by our Association before the Ministry of Interior is in the process of being processed by the special working group established by decision of the Minister of Interior. This group includes officials of the Department of Lands and Surveys, as well as representatives of the Cyprus Real Estate Development Association, with the aim of jointly processing and promoting a bill that fully meets its needs industry and the market.
