Cyprus Business Now: tourism, real estate, Koag, Jumbo, e-kalathi
In a post shared on the company’s official LinkedIn page, Hermes Airports stated that “July 2025 was officially the busiest month in the history of Cyprus airports,” surpassing all previous records.
The company pointed out that this performance overtook not only July 2024, but also the figures recorded in August last year, which had until now been the most active month on record.
Passenger traffic for the first seven months of 2025 also showed a strong upward trend.
Hermes reported that “from January to July 2025, we’ve already welcomed 7.3 million passengers,” reflecting a remarkable 11.4 per cent increase compared to the same period in 2024.
Limassol continued to dominate Cyprus’ high-end property market in the first half of 2025, accounting for six of the ten most expensive transactions nationwide, with a combined value of €105.7 million, according to real estate analytics firm Ask Wire.
The highest-value deal during the period was the €44.8 million sale of part of an apartment complex in Tsiflikoudia, Limassol.
Meanwhile, two sales in Nicosia followed, including a €29.3 million office space in Ayioi Omologites and a €12.5 million plot in Engomi, totalling €41.8 million.
Paphos also recorded two top-tier transactions, most notably, a €13.9 million field in Ayios Theodoros and a €7.6 million house in Kato Paphos, amounting to €21.5 million.
Altogether, the 50 highest-value real estate transactions in the first half of 2025 totalled €306.1 million, with Limassol alone contributing 43.1 per cent (€132 million).
He also said that the Cyprus Land Development Corporation (Koag) is planning in the coming years to build and release to the market new affordable housing units for sale and rental.
Regarding the housing grant scheme for young couples and young people up to 41 years of age, which includes the first call in 2024 and second call in 2025, a total of 525 applications were submitted.
Out of these, 152 applications were approved, corresponding to financial support of around €5.4 million.
Another 200 applications are still under evaluation, 172 were rejected, and one was withdrawn.
As for the Renovate-to-Rent scheme, encompassing the first calls in both 2024 and 2025, there were 43 applications submitted.
Over the first seven months of the year, group sales remained steady, rising by approximately 8 per cent, the company said in a statement.
In Cyprus, sales increased by 13 per cent in July compared to the same month in 2024. Over the January -July period, sales were up by around 8 per cent, in line with the group’s overall performance.
In Greece, net sales of the parent company, excluding intercompany transactions, rose by 10 per cent in July and by 9 per cent during the seven-month period.
According to the group, the results reflect both strong consumer demand and the resilience of Jumbo’s business model in a shifting retail environment.
Kervanos responded to a question from MP Andreas Apostolou on the matter, Politis reported, saying that the first hurdle is the need for creditor cooperation.
The second stumbling block is related to securing approval from the Directorate-General for Competition of the European Commission.
The minister explained that all government-backed NPL schemes require the voluntary participation of creditors.
In an announcement issued this week, the association reminded the public that the e-kalathi system became available for public use on June 12, 2025.
It explained that its assessment was based on data recorded between July 29, 2025, and August 3, 2025.
The association explained that out of the 478 product codes listed on e-kalathi, a total of 267 common codes were identified across five major supermarket chains in Cyprus.
The stores include Sklavenitis, Athienitis, Ioannides, Metro, and AlphaMega.
In its announcement, the CBC said that the figures are published to promote transparency and help consumers and businesses make informed comparisons.
Overall, deposit interest rates in Cyprus were under downward pressure in June for both households and businesses.
By contrast, interest rates on new housing and business loans showed an upward trend, with significant variations between banks and a widening cost gap compared to the eurozone.
A slight downward trend was seen in term deposit rates of up to one year from households in euro in Cyprus.
The inaugural session will take place on September 10, 2025, at Zest at Pinakothiki in Nicosia, starting at 6:30 PM Eastern European Summer Time.
From Zero brings together founders, technologists, creatives, and aspiring entrepreneurs for honest conversations at the intersection of technology and entrepreneurship.
The organisers said the aim is to “share insightful talks, practical lessons, and inspiring conversations” that reflect the realities of startup life in Cyprus and beyond.
In response to growing global demands for health-conscious and environmentally sustainable practices, the company has introduced two innovative reporting features, the Nutritional Values Report and the Carbon Emissions Report.
These provide shipowners and operators with real-time insights, enabling more responsible decision-making across galley operations.
According to the company, the launch forms part of its wider strategic focus on digital innovation, crew welfare, and environmental responsibility.