Concentration of Projects among Few Contractors in Cyprus
October 14, 2025
Three contractors have taken on 40.8% of public works in Cyprus for the period 2015-2024. In particular, the contractors Cyfield, Iacovou Brothers, and Cybarco have secured the largest funding, totaling €2.5 billion. The Auditor General highlights that the concentration of projects among a few companies may limit competition and result in delays in project completion. The average delay for project execution is reported to be 461 days. This situation raises concerns about the contractors' ability to manage multiple projects simultaneously.