Cyprus Business Now: airport expansion, property sales, inflation, unemployment

The environment department has officially approved the expansion plans for both the Larnaca and Paphos international airports, it emerged on Thursday.

The approval follows an agreement signed on December 23, 2024, extending Hermes Airports’ management until 2033, a move that paved the way for major infrastructure upgrades.

The deal resolved long-standing financial disputes and facilitated the launch of Phase 2 construction projects.

With an investment of €170 million, these expansions