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Cement sales boom

12/06/2007 09:43
According to latest CYSTAT data, domestic cement sales in January – May 2007 recorded a sharp increase of 10.9% to 735.6 thousand compared to 663.1 thousand in 2006, when they had increased by 2.4% compared to 2005. In 2006, the consumption of cement had reached 1.63 million tons.

According to Vasiliko Cement Works Sales Manager, Andreas Karakoulis, this increase is linked to the good weather conditions that allowed the construction of projects in Limassol roundabouts and the Larnaca and Paphos Airports.

According to Chairman of Cyprus Land and Property Development, Lakis Tofarides, the property market continues to be active, however, the cement sales should not be equated with the property sales, since the offer is not accompanied by a similar demand.

Chairman of Real Estate Agents Association, Solomon Kourouklides, said that the statistics show an increase in the offer of buildings. “We expect to see whether there will be a similar demand so that the market absorbs the extra offer of projects. This will be observed in the next six months. Already, certain projects that are under construction have been sold. The property market remains active with external demand remaining at high levels. External demand is 20% of the total demand”, he noted.