Philenews

How the 130 Turkish Cypriot Properties Will Be Allocated - Procedures for Leasing Commercial Properties

Published January 11, 2026, 05:05
How the 130 Turkish Cypriot Properties Will Be Allocated - Procedures for Leasing Commercial Properties

The Cyprus Turkish Property Administration (CTPA) has prepared a manual aimed at ensuring equal treatment for all those seeking to rent any of the 130 Turkish Cypriot properties that will be allocated through an auction. The lease term will be seven years, with the possibility of renewal for another seven. The manual details the procedures and criteria for conducting the auctions. The auctions concern commercial properties in Special Management Areas and properties with a Certificate of Unsuccessful Visual Inspection. The “Special Management Areas” are determined by the Minister of Interior following a proposal by the Director of the CTPA and approved by the Council of Ministers. The CTPA maintains a list of Special Management Areas, with information on the area, decisions of the Council of Ministers, and the properties included. For each property being auctioned, cadastral information, the reserved rental price, and auction details are kept. The allocation of the properties will be decided by an Official Auction Committee, chaired by the Director of the CTPA. The Committee must ensure transparency and impartiality in the process, and members must recuse themselves in the event of direct or indirect interest.