Prime Minister Ünal Üstel on Wednesday announced that the Immovable Property Commission (IPC) has started paying out compensation for applications finalized until 2020.

Making evaluations regarding the Immovable Property Commission at a press conference held at Ercan Airport, Prime Minister Üstel said, “All pending compensations will be paid in the next few months.”

He reminded that the commission was established as a domestic remedy to address the demands of Greek Cypriot property owners, in accordance with the decision of the European Court of Human Rights (ECHR).

Acknowledging the criticisms against the commission in recent years, Üstel assured that significant efforts have been made to address these concerns.

He revealed that a total of nearly 200 applications, which have been concluded without any disputes, will receive compensation amounting to approximately £68m.

Üstel assured that the payment of these finalised applications have commenced and will be completed within the next few months.

The Prime Minister reaffirmed the government’s commitment to operating the Immovable Property Commission as an effective domestic remedy based on international law criteria.