18/01/2010 06:46
The Cyprus Church is considering leasing its inactive land of millions of euros to individuals, so that they develop is assets in the best possible way. In his interview to StockWatch, Archbishop Chrysostomos B analyzed the Church’s plans for further development of its properties, which was said to reach billions few years ago.
The Archbishop stressed that the Church is not a religious organization only and there is a need for an eternal development so as to maintain its power. In this context, he outnumbered the measures that the Church is taking to develop its assets, with special emphasis to the property sector.
“An investment that the Church intends to make is the long-term lease of its land to the private sector, so that the latter takes the initiatives for its own investments”, he said.
The Cyprus Church is regarded as the biggest land owner on the island, after the state. A big part of its assets, including seaside areas, is estimated with 1980 prices.
Until recently, the Church developed its properties on its own. According to the Archbishop, this will change. “Instead of building a restaurant, a hotel unit or a tourist village or clinic by ourselves, we will lease the properties to individuals and we will receive a good rent, which will include a provision for an increase on the basis of ATA”, he told StockWatch.
He also talked about its rules on the better management of the Church’s properties, such as the introduction of a three-member committee that supports the sale prices or the purchase of properties in independent estimates.
The Archbishop referred to the Church’s investments in Hellenic Bank and Bank of Cyprus, which are “good investments” and he did not exclude a possible increase in the shareholding. Commenting on the possible cooperation between the two banks, he referred to the Boards of Directors and did not exclude any investments abroad.
As for the taxation of Church’s properties, he sent a message for a new approach to the Finance Ministry.
The Church is also supportive to the government’s efforts to tax properties with current prices. “We are not irritated by this effort. We will pay as much as the other people will. We do not ask for an exemption, although we are covered by the Constitution”, he noted.
Moreover, the Archbishop talked about the social role of the Church in the period of recession and analyzed the measures that it takes to support society, although “the Church’s finances have been affected negatively by the crisis”.
Commenting on the latest developments on the Cyprus issue, he said that there are no margins for a viable solution.
The Archbishop stressed that the Church is not a religious organization only and there is a need for an eternal development so as to maintain its power. In this context, he outnumbered the measures that the Church is taking to develop its assets, with special emphasis to the property sector.
“An investment that the Church intends to make is the long-term lease of its land to the private sector, so that the latter takes the initiatives for its own investments”, he said.
The Cyprus Church is regarded as the biggest land owner on the island, after the state. A big part of its assets, including seaside areas, is estimated with 1980 prices.
Until recently, the Church developed its properties on its own. According to the Archbishop, this will change. “Instead of building a restaurant, a hotel unit or a tourist village or clinic by ourselves, we will lease the properties to individuals and we will receive a good rent, which will include a provision for an increase on the basis of ATA”, he told StockWatch.
He also talked about its rules on the better management of the Church’s properties, such as the introduction of a three-member committee that supports the sale prices or the purchase of properties in independent estimates.
The Archbishop referred to the Church’s investments in Hellenic Bank and Bank of Cyprus, which are “good investments” and he did not exclude a possible increase in the shareholding. Commenting on the possible cooperation between the two banks, he referred to the Boards of Directors and did not exclude any investments abroad.
As for the taxation of Church’s properties, he sent a message for a new approach to the Finance Ministry.
The Church is also supportive to the government’s efforts to tax properties with current prices. “We are not irritated by this effort. We will pay as much as the other people will. We do not ask for an exemption, although we are covered by the Constitution”, he noted.
Moreover, the Archbishop talked about the social role of the Church in the period of recession and analyzed the measures that it takes to support society, although “the Church’s finances have been affected negatively by the crisis”.
Commenting on the latest developments on the Cyprus issue, he said that there are no margins for a viable solution.
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