Israeli Man Sentenced to Five Years for Illegally Selling Greek Cypriot Land in Breakaway North
Court in Cyprus sentences Israeli businessman to five years for developing and selling luxury apartment complexes on land owned by Greek Cypriots in the breakaway northern part of the divided island.
A court in Cyprus has sentenced an Israeli businessman, Shimon Mistriel Aykout, to five years for developing and selling luxury apartment complexes in the breakaway northern part of the divided island without permission from the Greek Cypriot owners of the land.
The case highlights the contentious property rights in Cyprus, which was split in 1974 when Turkey invaded following a coup by the Athens junta aiming at unifying the island with Greece.
The development and sale of these properties have raised concerns about the exploitation of Greek Cypriot-owned lands in the northern region.
Aykout, who also holds Portuguese and Turkish citizenship, pleaded guilty to 40 counts of building and selling apartments in the north.
Between 2014 and 2024, he headed the Afik Group of Companies that developed approximately 400,000 square meters (4.3 million square feet) of Greek Cypriot-owned properties in four villages in the north.
The combined value of these developments exceeds 38 million euros ($44 million).
The court's decision sends a clear message that serious criminal acts are committed when one buys, builds, or otherwise uses land in the occupied areas belonging to Greek Cypriots.
This ruling is seen as triggering panic within the northern real estate and construction industry, shattering the illusion of legal impunity.
The case has also drawn reactions from Turkish Cypriot authorities, who argue that the issue of Greek Cypriot property in the north can only be resolved through negotiations.
The European Union's top court and the European Court of Human Rights have affirmed the rights of Greek Cypriots to property ownership in the north.
However, these courts have also supported the establishment of a Turkish Cypriot property commission for resolving claims.
The prosecution of Aykout marks one of several similar cases where developers and realtors are being targeted for exploiting Greek Cypriot properties in the breakaway north.
The ongoing legal actions highlight the complex nature of Cyprus's division and the unresolved property disputes dating back to 1974.
The case highlights the contentious property rights in Cyprus, which was split in 1974 when Turkey invaded following a coup by the Athens junta aiming at unifying the island with Greece.
The development and sale of these properties have raised concerns about the exploitation of Greek Cypriot-owned lands in the northern region.
Aykout, who also holds Portuguese and Turkish citizenship, pleaded guilty to 40 counts of building and selling apartments in the north.
Between 2014 and 2024, he headed the Afik Group of Companies that developed approximately 400,000 square meters (4.3 million square feet) of Greek Cypriot-owned properties in four villages in the north.
The combined value of these developments exceeds 38 million euros ($44 million).
The court's decision sends a clear message that serious criminal acts are committed when one buys, builds, or otherwise uses land in the occupied areas belonging to Greek Cypriots.
This ruling is seen as triggering panic within the northern real estate and construction industry, shattering the illusion of legal impunity.
The case has also drawn reactions from Turkish Cypriot authorities, who argue that the issue of Greek Cypriot property in the north can only be resolved through negotiations.
The European Union's top court and the European Court of Human Rights have affirmed the rights of Greek Cypriots to property ownership in the north.
However, these courts have also supported the establishment of a Turkish Cypriot property commission for resolving claims.
The prosecution of Aykout marks one of several similar cases where developers and realtors are being targeted for exploiting Greek Cypriot properties in the breakaway north.
The ongoing legal actions highlight the complex nature of Cyprus's division and the unresolved property disputes dating back to 1974.
