This article is a critical commentary on the speculative physical development that occurred in North Cyprus in the period following the defeat of the Kofi Annan Plan (2004) for a political settlement for the islanders. The rejection of the Annan V Plan by Greek Cypriot voters, and its acceptance by Turkish Cypriots, was interpreted and manipulated by certain political forces and vested interests in the TRNC as a carte blanche to ‘improve’ by development, property with Greek Cypriot title deeds. After the failed referendum the physical development of North Cyprus escalated at a gigantic rate. According to one ex-patriot: “In the area around Morphou-Guzelyurt the clear understanding among many locals was - ‘build on it and its yours’ - with many local TRNC press reports at the time hinting at a nod of approval from Turkish Prime Minister Erdogan.”