The total area of projects which received a building permit in the first eight months of the year rose 4.5% to 615,262 square meters, compared with the respective period of 2015, while their value fell 7.3% to €638.9m, Cystat said in a statement on its website on Wednesday.

The construction area of housing projects and non-housing projects rose 5.3% and 5.8% to 479,452 square meters and 131,930 square meters respectively compared with the previous year, Cystat said. The value of housing projects rose 2.2% to €460.3m, while that of non-housing projects dropped 16% to €135.6m.

Civil engineer projects dropped in volume an annual 56% to 3,880 square meters and 73% to €14.5m in the first eight months of the year compared with January to August 2015, Cystat said.

Source: Cyprus Mail