Ask Wire CEO Pavlos Loizou on Thursday announced that the Tax Department has partnered with the company to integrate its real estate intelligence platform into daily operations.

The agreement marks a key moment in Cyprus’ digital transformation, with the government adopting technology designed to enhance market transparency and efficiency.

“It is a milestone when the government chooses your tech to anchor its digital transformation,” Loizou said.

He added that for partners in the banking, insurance and investment sectors across Cyprus and Greece, the development reinforces the data standard being set across the region.

According to Loizou, the platform will provide “institutional-grade precision”, enabling the Tax Department to utilise the same advanced analytical tools used by leading banks and funds to monitor the market consistently.

He also said that it will improve data reliability, offering a cleansed view of Department of Lands and Surveys transactions, removing errors to reflect the true state of the property market.

“Moving away from historic benchmarks, officials can now interrogate the market in near real-time using AI-driven spatial modeling,” Loizou said.

The system also introduces advanced risk mapping capabilities, incorporating overlays of urban planning data, Natura 2000 protected areas and geological risks.

In addition, it enhances foreclosure and bank property monitoring, enabling better tracking of assets held by credit acquiring companies and their pricing trends during restructuring.

“This agreement underpins a fairer, more efficient real estate market for every stakeholder,” Loizou said.

“When the state values and monitors property using the same quality of intelligence as the private sector, the entire ecosystem gains stability,” he added.

“We are committed to driving data-driven, defensible decision-making across the Eastern Mediterranean,” the Ask Wire CEO concluded.