Etyk housing scheme gives members homes below market value
The Bank employees’ union Etyk Welfare Fund (TEtyk) is moving ahead with the construction of four apartment buildings in the Platy area of Aglandjia in Nicosia, offering members priority access at preferential prices until Sunday, November 30.
According to a union circular, the development covers a plot already owned by Etyk and will consist of 40 one- and two-bedroom apartments designed to meet different housing needs.
The properties will be sold with the dual aim of supporting members and strengthening the fund’s reserves to continue providing assistance to employees and their families.
Each member will be entitled to purchase one apartment at a special price, ensuring what the organisation described as “a substantial benefit compared with current market values.”
If demand exceeds supply, allocation will be decided by lottery in the presence of interested members.
Apartments left unallocated after the members’ priority period will be offered to non-members.
Detailed designs, sizes, prices and features have been posted on the union’s official website.