Every year, foreign and local investors make invaluable contributions to projects that are key to the Cypriot economy, contributing to regional and national development.
These include hotels, residential complexes, infrastructure projects and training centres with the potential to boost the country's economy. Some of the largest development projects to be approved by the Ministry of Environment in 2024 include:
The Mall of Limassol in Limassol
A new shopping centre will be built by Atterbury Europe, which owns the Mall of Cyprus and the Mall of Engomi in Nicosia. It will be built close to the Vashiotis Kalande housing estate and the municipal kindergarten no. 27 in the Mesa Ghetonia area. The building, with an area of more than 30,000 m2, will consist of two floors with 114 shops, a cinema and a supermarket. The cost of the project is estimated at 80 million euros. Construction is scheduled to start in the first half of 2025.
Limassol Mall in Limassol
Another shopping centre in Limassol will be located in the car park opposite the popular Jumbo children's shop in the Agios Athanasios area. The project is being developed by the group of companies that owns Nicosia Mall, in partnership with the Papantoniou supermarket chain. The 3-storey mall with a total area of more than 76,000 m2 will have 105 shops. The cost of the project is estimated at €120 million. Construction is scheduled to begin by the end of 2024.
Гипермаркет Alfamega в Паралимни
Единый коммерческий комплекс будет состоять из 4-этажного здания с подвалом, цокольным этажом, мезонином и одним наземным этажом, автостоянки на 106 автомобилей (включая пять мест для инвалидов и четыре места для велосипедов) и открытых зеленых зон. В здании гипермаркета общей площадью более 5 тысяч м2 оборудуют две погрузочные площадки, торговый зал, рыбный рынок, мясную лавку и гастроном, ресторан, обеденные зоны и подсобные помещения.
Отель «Беренгария» в Продромосе
Этот проект обещает стать новой жемчужиной Троодоса. Согласно утвержденному плану, роскошный отель распахнет свои двери для первых постояльцев уже в середине 2026 года. По задумке архитекторов, внешний вид отеля будет максимально сохранен. В ходе реновации в здании восстановят разрушенные стены, фасад и окна останутся в первозданном виде. Крышу переделают, исходя из прежней геометрии. Самые масштабные изменения коснутся только балконов на верхних этажах, зоны для завтрака и бара на первом этаже, а также двух лестниц. После полной реконструкции в отеле появится 30 номеров. Из них: 6 люксов, 12 смежных номеров и 12 стандартных номеров. Кроме того, на территории гостиничного комплекса предусмотрено 14 жилых апартаментов, 13 таунхаусов и 9 отдельно стоящих вилл, которые смогут приобрести заинтересованные инвесторы, а затем сдавать их в аренду через руководство отеля.
Tree Hotel in Platres
The project includes the construction of a 5-storey hotel with 58 rooms, detached cottages, ancillary facilities, recreational areas and underground parking. The new hotel complex, with a total area of over 2.5 thousand m2, will also include an indoor and outdoor restaurant, wellness centre, gym, changing rooms, indoor swimming pool, yoga area and multi-purpose rooms.
Hotel complex at Kritou Terra
The project is owned by Dl Thea Hotels ltd. According to the press release, the developer intends to build a tourist complex consisting of two blocks of 2 and 3 storeys. For the convenience of guests, the hotel will have a swimming pool and a car park for 7 cars (including 1 for people with disabilities). The area around the buildings will be landscaped. The approximate cost of the project is 1.5 million euros, and the implementation period will be 18 months after the issuance of all necessary documents.
Villas by the sea in Peyia
The company Barzelia intends to build thirty 2-storey villas in Paphos. 11 of the villas will have their own swimming pool and 5 will have underground parking. Potential buyers will be offered a choice of 2, 3 and 4 bedroom homes. The 15,887m2 luxury development will grace the prestigious area of Peyia. Due to its extremely convenient location, owners of the villas will be able to quickly reach any part of the city and the airport. It is worth noting that the magnificent Coral Bay beach is only 800 metres away from the development site. The estimated cost of the project is €20 million and the implementation period is 24 months after obtaining all the necessary permits, as stated in the environmental study.
Nightingale residential complex in Platres
The estimated cost of the project is €15 million. The residential complex will consist of six buildings with 21 apartments. They will be built close to the Millomeris waterfall and the Troodos National Forest Park network. The buildings will vary in height from seven to ten metres and in size from 182 m2 to 574 m2. All houses will have a basement and a ground floor. They will be equipped with storage rooms, laundry rooms, toilets, changing rooms, wine cellars, parking spaces, engine room, comfortable sleeping areas, kitchens, living rooms, dining rooms, bars.
Paphos Metropolitan Hospital
The project is owned by the Stargem Group. According to the developer, a large medical facility will be built in the village of Mesogi in the Paphos district. The project includes two buildings: a hospital block and an office block. The total area of the land allocated for the development is 27,426 m2. Of this, 21,780 m2 will be occupied by multi-storey buildings.
The private hospital will have the following facilities:
- Haemodialysis Department;
- Endoscopy department;
- X-ray shock wave remote lithotripsy department;
- Diagnostic Department;
- Intensive Care Unit;
- Medical Rehabilitation Department;
- Radiology Department;
- Obstetrics Department;
- Surgical department;
- Emergency department;
- Morgue.
Iasio Hospital in Limassol
A new private hospital will open in Limassol at the end of next year. It will be called 'Iasio' and will be built in the municipality of Kato Polemidia. The two-storey building with basement will include a private clinic with three operating theatres, 12 wards, 30 beds, a maternity ward, technical facilities and doctors' toilets. The same complex will include office space, a laboratory and an outpatient clinic with six examination rooms. The budget for the project is 4 million euros. The construction area is 1,950 m2. Construction is expected to take about 1.5 years.