British Cypriot property developer John Christodoulou confirmed on Tuesday he is interested in running for president of Cyprus.

Speaking to Politis, Christodoulou said he will decide around the end of the year on his candidacy.

He said Direct Democracy leader Fidias Panayiotou was not the only person urging him to stand and that he would serve “if he could make a genuine difference”.

Phileleftheros reported Panayiotou has raised Christodoulou’s name in contacts with party leaders, including Akel, to explore a joint candidacy.

He reportedly received no answer, as the internal processes of every party except that of Disy are at an early stage.

Akel denies looking for a candidate

Akel secretary general Stefanos Stefanou played down speculation on Monday that his party was sounding out candidates.

Direct Democracy is also in talks with Odysseas Michaelides’ Alma party regarding a joint candidate.

Christodoulou owns Yianis Group, which owns hotels and flats in Canary Wharf and elsewhere in Britain, with the Sunday Times Rich List 2026 estimating his wealth at £2.7 billion.

In Cyprus he is active mainly through the Yianis Christodoulou Foundation.

Christodoulou was reported in 2021 to be close to a £30 million takeover of Omonia football club, but talks with majority owner Stavros Papastavrou reportedly collapsed over a requirement to sell shares on to supporters.

His business affairs in Britain have drawn scrutiny, when in 2012, hotel owning companies in the group under the Dania Properties name went into administration, costing him the Marriott Victoria & Albert Hotel in Manchester and a Park Inn near Heathrow.

Faced tribunals in the UK

In 2022 he reportedly admitted to a tribunal that residents at 1 West India Quay had been overcharged by 26 per cent on utilities.

In March 2024 the UK government began legal action seeking £20.5 million from his companies towards fixing unsafe blocks at Canary Riverside.

In March 2025 a judge described his companies as a “rogue landlord” in a case over unlicensed houses in Hackney; tenants were awarded £263,555 in rent repayment orders.

A BBC documentary in August 2025 reported that the tenants had not been paid, though Christodoulou has insisted to the publication that “all tenant claims have been satisfied”.

This year leaseholders at Beetham Tower in Manchester, which he owns, said remediation work had not been carried out.

Education Minister and Manchester MP Lucy Powell called the situation at the time a “living hell” for residents.

In 2021 then Presidential Commissioner Photis Photiou called him “among the best ambassadors of Cyprus abroad”

The Cyprus Mail approached Christodoulou and Yianis Group for comment.