Greek Cypriot refugee Christos Saveriades has been awarded €9 million in damages by the Turkish Cypriot ‘immovable property commission’ (IPC) for the loss of use of his property in the north, it was announced on Wednesday.

Lawyer Achilleas Demetriades, representing Saveriades’ heirs, said an “amicable agreement” had been reached on November 19, 2024, and the decision was executed a month ago.

Demetriades made the reference in a note to the Council of Europe’s ministerial committee, which is set to discuss the implementation of the ruling in Cyprus’ fourth interstate appeal against Turkey, as well as the group of Xenides-Arestis cases, from June 10 to 12.

Saveriades’ property, located in Famagusta, included a four-bedroom apartment and a higher education centre, on the site of which the ‘East Mediterranean University’ has since been built.

In a memorandum dated April 17, ahead of the Council of Europe meeting, the Republic of Cyprus criticised the IPC’s inefficiency, noting that only a quarter of the submitted cases had been concluded, with some pending for over a decade.

Meanwhile, Turkish Cypriot media on Tuesday quoted IPC chairwoman Novber Ferit Vechi as saying the commission had received 8,135 applications, of which 2,027 had been resolved. She added that £531,143,351 in damages had been paid out to date.

She also noted that the IPC had issued decisions for restitution in five cases, two involving an exchange of property and compensation, and eight for both restitution and compensation.

The IPC is recognised by the European Court of Human Rights as a domestic remedy for property disputes in Cyprus stemming from the 1974 Turkish invasion.

However, the Cyprus government discourages Greek Cypriot refugees from applying to the IPC, particularly with regard to Varosha, as it has long been understood that the area would be returned to its rightful owners under a comprehensive Cyprus settlement. Accepting compensation, the government warns, could create a new fait accompli on the ground.