As the Cyprus Foundations Administration, we would like to share with the public the importance of the decision of the European Court of Human Rights (ECtHR) in the Mediterranean Tours Limited v. Turkey case. This decision is a critical turning point regarding property issues in Cyprus and has great importance both legally and politically.

The ECtHR has once again confirmed that the Immovable Property Commission (IMC) is an effective domestic legal remedy. This situation legally supports the position that Turkey and the Turkish Republic of Northern Cyprus (TRNC) have long defended and shows that the IMM is the sole competent authority for property issues in the TRNC.

The fact that the IMM considers not only the return of property but also alternative solutions such as compensation and exchange as legitimate provides flexibility in the property resolution process and provides an important gain. The ECtHR emphasized that the IMM did not act contrary to its impartiality and the principles of fair trial, which provided a clear response to the criticisms of the Greek Cypriot side.

This decision of the ECHR is a rare decision that gives international legitimacy to the legal system of the TRNC. The confirmation of the conformity of the TMK with international law strengthens the hand of Turkey and the TRNC in the context of the Cyprus negotiations and weakens the strategy of the Greek side to ignore the TMK.

Closed Maraş is of critical importance for the Cyprus Foundations Administration. We play a central role in the protection and management of historical and cultural properties in this region. The calls made based on the ECHR decision emphasize that the Greek side's position is incompatible with international law and carry a diplomatic message.

Since the property problems of Closed Maraş can be resolved through the TMK, property claims in this region are also directly related to the effectiveness of the TMK. As the Cyprus Foundations Administration, we see this decision of the ECHR as both a legal and political gain for the TRNC.

Respectfully announced to the public.