Greek Cypriot Christos Saveriades Awarded €9 Million Compensation by Immovable Property Commission

Achilleas Demetriades, the lawyer representing Saveriades’ heirs, stated that a “friendly settlement” was reached between the parties on 19 November 2024 and the agreement was implemented a month ago. This information was submitted to the Committee of Ministers of the Council of Europe, which is scheduled to evaluate the implementation of judgments in the fourth interstate application filed by Cyprus against Turkey, as well as the Xenides-Arestis group of cases, during its 10–12 June session.

The compensated property includes a four-bedroom apartment and land now forming part of the Eastern Mediterranean University campus in Famagusta.

Meanwhile, a briefing note prepared by the Republic of Cyprus on 17 April criticized the effectiveness of the IPC, claiming that only a quarter of applications have been resolved and some cases have been pending for over a decade.

In the Cyprus Mail report, IPC Chair Novber Ferit Veçhi provided updated statistics in a statement to Kıbrıs Genç TV. She stated that the Commission has received a total of 8,135 applications, of which 2,027 have been concluded. To date, the IPC has awarded a total of £531,143,351 in compensation.

Veçhi also noted that the IPC has issued decisions involving restitution in five cases, exchange and compensation in two, and both restitution and compensation in eight.

The European Court of Human Rights (ECHR) continues to recognize the IPC as an effective domestic remedy for property disputes arising from the Turkish intervention in 1974.

Source: Cyprus Mail