Three major residential development projects with a combined value of €46 million are being proposed in the Akamas area of Cyprus. Together, they provide for the construction of 89 villas. The projects are at different stages of planning, and environmental studies have already been submitted to the Department of Environment. Construction can begin only after the necessary planning and environmental approvals are obtained.
The potential investment volume is impressive: on average, around €517,000 is allocated per villa. The projects are focused mainly on spacious private homes with swimming pools, gardens and additional infrastructure.
€16 million project for 25 villas
The first complex, valued at €16 million, is planned by Leptos Calypso Hotel Public Ltd in the Peyia area, which forms part of the Akamas municipality. The project provides for 25 two-storey villas with four bedrooms. Each house is planned to have a basement, private garden, parking space and swimming pool. Basement areas will range from 128.65 m2 to 176.40 m2, while the total floor area of the houses will vary depending on the level.
The site will include 25 private swimming pools, an internal road network, pedestrian routes, green areas and parking spaces. A biological wastewater treatment plant is also planned. The development site covers approximately 24,013 m2.
€16.7 million project for 34 villas
The second project, by Rosethorn Ltd, 50% of which is owned by Leptos Calypso Hotel Public Ltd, is estimated at €16.7 million. On a site of approximately 24,689 m2, the company plans to build 34 detached two-storey houses. Of these, 23 will have four bedrooms and another 11 will have three bedrooms. The houses will range in size from 127.45 m2 to 224.23 m2. Nineteen homes will include basements ranging from 79 m2 to 144.45 m2. The project also includes 27 swimming pools — 26 private and one communal — as well as a biological wastewater treatment system.
€13.3 million project for 30 villas
The third project, by Evaeros Properties , valued at around €13.3 million, is planned for the municipal district of Neo Chorio in the Paphos area, within the municipality of Polis Chrysochous. The site is located approximately 1 km west of the Akamas Peninsula. The project provides for the construction of 30 houses and communal facilities. The buildings are planned to include ground, semi-basement and upper floors.
The site will include a communal building, wastewater treatment facilities, parking and landscaped green areas. Planned amenities include private and communal swimming pools, jacuzzis, massage areas and pedestrian paths. The total site area is approximately 13,713 m2, of which the net area is 9,811 m2. The project also provides for 1,773 m2 of public green space and 236 m2 for public-use facilities. According to the environmental study submitted in July 2026, the site is not located within a Natura 2000 protected area.
Thus, the three projects could add 89 new villas to the Akamas property market and attract up to €46 million in investment. However, these are still planned developments: the final implementation timeline will depend on the completion of environmental procedures and the granting of all necessary permits.