New Developments and Insurance Risks in Iskele

Iskele is one of the fastest-changing regions in Cyprus from an insurance perspective.
The reason is simple: new developments.

But being “new” does not automatically mean “low risk.”
On the contrary, in Iskele, risk often comes from newness itself.

The Changing Structure of Iskele

In recent years, Iskele has seen:

• Large-scale residential projects

• Dense site-based living

• Rapid construction and delivery timelines

• High investor and tenant mobility

This speed forces insurance into a different position.

In Iskele, insurance cannot rely on settled habits.
It must accompany a settlement process that is still unfolding.

The Most Common Risks in New Buildings

Risks in new buildings are rarely dramatic.
But they are systematic.

• Post-construction water leaks

• Plumbing systems that have not fully settled

• Insulation and drainage issues

• First-use damage in shared areas

On paper, a “brand-new building” looks secure.
In reality, it is a structure in its first testing phase.

High Concentration of Shared Areas

Most new projects in Iskele are built with a site-based concept.

• Shared swimming pools

• Elevators

• Parking areas

• Landscaping and infrastructure zones

When damage occurs in these areas,
lines of responsibility can quickly become blurred.

Insurance here must consider not only the apartment,
but the entire residential complex.

Constantly Changing User Profiles

A significant portion of housing in Iskele is:

• Purchased for investment purposes

• Rented short- or mid-term

• Subject to frequent tenant turnover

This increases:

• Late detection of damage

• Usage-related issues

• Disputes over responsibility

Insurance must be designed around movement, not permanent occupancy.

Infrastructure and Environmental Factors

New development often advances faster than infrastructure.

• Fluctuating water pressure

• Power interruptions

• Drainage systems tested only after heavy rainfall

In Iskele, risk does not exist only inside the building.
It forms together with its surroundings.

What Insurance in Iskele Must Be

Insurance in Iskele must operate with a system that is:

• Aware of new-build risks

• Focused on shared areas

• Accepting of user turnover as normal

• Oriented toward fast detection and follow-up

The issue here is not major disasters,
but repeating small losses during the first years of use.

Why Traditional Insurance Thinking Falls Short

Policies written with an established-neighborhood mindset
do not fully match Iskele’s reality.

Because in Iskele:

• Buildings are new

• Users are temporary

• Systems are still being tested

If insurance fails to recognize this transition phase,
confusion emerges at the moment of loss.

Structures That Read the Region Make the Difference

When it is known:

• Which projects experience recurring water damage

• Which sites face shared-area problems

• Which risks appear at which stage

processes move faster and surprises are reduced.

One of the structures that integrates this regional awareness into its system is
Can Sigorta.

Rather than seeing Iskele as simply “new buildings,”
it treats the area as a transition zone
and designs insurance accordingly.

Conclusion

Insurance in Iskele cannot operate on the assumption that
“new means no problems.”

New buildings are not where risk ends.
They are where risk begins.

Only insurance that understands this reality
truly works in Iskele.