Turkish Cypriot property companies banned from Scandinavian exhibitions
By Jean Christou
PROPERTY companies operating in the north have been banned from exhibitions in some Scandinavian countries after protests by Greek Cypriot developers, Overseas Property Professional magazine has reported.
The report said the Turkish Cypriot developers had been banned from a host of exhibitions across Finland, Norway and Iceland following complaints from Greek Cypriot companies.
The decision was purely commercial, according to event organisers Fair Media, which feared that Greek Cypriot developers would withdraw from the exhibitions.
“At a previous show in Norway, we had sold stand space to someone with a Turkish billing address and assumed that this was a Turkish developer coming to the show,” said Sven Kallstrom, chairman of Fair Media.
“It was in fact a northern Cypriot company and halfway through the show, a collective group of representatives from Pafilia, Aristo, Leptos and other southern Cypriot developers came over and asked us to remove the company from the exhibition.
“For me it was fine to have them there and I hadn’t 100 per cent decided on a policy for this situation, but they threatened to boycott any future events. I am losing money on ignoring northern Cypriot companies now and we are getting a lot more enquiries, but I would lose even more money if I allowed them in so we have made our decision.”
The article also quotes Russell Price, managing director of Property International, a company in the north as saying he understood the decision.
“At the end of the day, the exhibition company has made a commercial decision and I respect that,” he said. “I don’t necessarily disagree with companies that sell a range of title in north Cyprus. However, we only sell pre-1974 titles so this isn’t fair on companies such as ours that wish to legitimately sell property in the north to international buyers.”
Another representative of the same company said:
“This practice of judge and jury is giving south Cypriot developers an unfair advantage and misinforming the public. There is a strong demand for property in north Cyprus, which is 50 per cent cheaper than the south.”
Copyright © Cyprus Mail 2008