Delegates were informed on the Cyprus economy, the real estate market’s prospects and the usurpation of Greek Cypriot properties in the occupied areas
All issues concerning the global real estate market were discussed at the Annual World Congress of the International Real Estate Federation (FIABCI International), which was recently held in Taichung, Taiwan. Cyprus was represented at the Congress by the President of FIABCI-Cyprus, Mr Lakis Tofarides, and FIABCI-Cyprus Board member and President of FIABCI International Young Members, Mr Tasos Stavrou.
The problems and prospects of the real estate industry were discussed during the congress, while specific suggestions were tabled on reviving the real estate market and developing economic activity. Other topics were also discussed, such as the issuing of residence permits, new trends in the global investment and economic environment, and matters relating to sustainable growth and the United Nations’ programmes in third countries.
“Through our participation in global conferences and other actions by FIABCI, but also our contacts with very important professionals in the sector on an international scale, we have the chance to observe the international developments up close and enrich our knowledge and network,” said Mr Stavrou. “Given the recent developments in the Cyprus economy, but also the problems faced by the local property market, our participation in international conferences enables us to explain the situation and project our country as an attractive investment destination,” he added.
The FIABCI local chapters of a number of countries participated in the Congress, while world class industry professionals took part in its operations. Through their participation, the representatives of FIABCI-Cyprus also had the opportunity to inform their associates from other countries on the Cyprus problem, paying special emphasis to the usurpation of Greek Cypriot properties in occupied Cyprus. The Federation’s Cypriot representatives are often called upon to answer queries by foreign interlocutors, leading to the development of a close collaboration between FIABCI-Cyprus and the Ministry of Foreign Affairs.
FIABCI
The International Real Estate Federation (FIABCI) is a non-political entity, which promotes collaboration and networking among the sector’s professionals from all over the world. It is represented by chapters in 48 countries, among which is Cyprus, an active member of the federation since 1984. Its regular members (individuals and companies) exceed 3,500, while its members also include academic institutions and national associations, which represent some two million professionals, making FIABCI the most representative organization in the real estate industry worldwide. FIABCI is represented in the United Nations, as an advisor to its Economic and Social Council (ECOSOC). FIABCI is especially interested in education, placing excellent training as a goal for those who wish to become active professionally in the industry.
