North Nicosia is the financial and economic centre of Northern Cyprus. In 2012, Lefkoşa District had 39.9% of the workplaces and 49.5% of the employees in Northern Cyprus. The Central Bank of Northern Cyprus is located on the Bedrettin Demirel Avenue. The city has seen great urban growth in the last decades, but the authorities have been criticized over the lack of city planning. Between 2008 and 2010, the construction rates in the North Nicosia urban area grew by 23.9%, with the largest boom observed in the construction of new industrial facilities in the city, which grew by 87.5% over two years. North Nicosia also grew in importance as a centre of commerce as the construction of offices grew by 74.2%. Recently, programmes have been put to place to regulate the growth of the city that has expanded uncontrollably. North Nicosia has been identified as a city with a high amount of development and welfare.