Despite the coronavirus pandemic and the closure of the passport program, developers continue to construct in Cyprus.
They are actively erecting not only residential, but also commercial buildings. And this is not surprising, since the demand for office space, and commercial projects in general, is constantly growing. Especially in Nicosia, where the largest number of foreign entrepreneurs are concentrated.
We bring to your attention 6 new commercial projects that will soon decorate the capital of Cyprus.
Asteroid
A new business project called Asteroid will be located in the heart of the business center of Nicosia. This modern commercial tower claims to be one of the tallest office buildings in the capital of Cyprus. The high-rise is expected to become a "home" for large international companies and organizations from around the world.
The building called Asteroid is being built by BG Waywin and C&A Toumazis. The height of the skyscraper will be 16 floors (80 m). In addition to offices, it has two basements with an area of 200 m2, a rooftop lounge bar and a parking lot for 133 cars.
Labs Tower
In the center of Nicosia, the construction of another high-rise is now in full swing - the 20-story Labs Tower building. The new mini-high-rise will house the Cypriot headquarters of a group of companies owned by Israeli-born Cypriot billionaire Teddy Sagi.
In addition to office space, the high-rise provides apartments for company employees, conference rooms, cafes, restaurants and a fitness center. The project cost is estimated at 30 million euros. The same amount will be spent on finishing, equipment and furniture. The Labs Tower was designed by the Heracles Papachristou architectural company.
Nicosia City Center
The Nicosia City Center (NCC) project is strategically located at the intersection of Kallipoleos Avenue and Ethnikis Frouras Street, in the area of Hilton Cyprus and the University of Cyprus.
The contractor for the project is Depcon, the customer is PCMK Holdings. The architecture of the building was handled by the renowned Cypriot bureau UDS Architects, and the architectural research and conceptual design was carried out in collaboration with Benoy Architects of Britain.
The total building area is 13,485 m2, of which 1,632 m2 are covered terraces, 5,238 m2 are office premises, 1197 m2 are shops, 3,341 m2 are parking, 1,509 m2 are public areas.
According to the head of PCMK Holdings, Poly Kourousidis, Cypriot companies and multinationals are showing great interest in leasing office space in the new business center. Some of them are considering renting the entire building.
Metropolitan
The new modern business center of Nicosia is located next to the Eurobank headquarters, in the heart of the city on Spyros Kyprianou Avenue.
The building has an area of 8,984 m2 and has 20 floors, which include office space, a luxurious reception, a mezzanine, an engineering floor and three spacious underground parking levels. In addition, there is a rooftop lounge area that can be used for corporate entertainment.
Metropolitan is equipped with the latest technology to meet current and future business requirements with great flexibility to transform the workplace as needed.
Hadassah
Construction of a large medical complex will begin soon in Nicosia. This is a unique project of its kind. The hospital will provide the highest quality medical services across the entire range of hospital services, even in specialized areas that have not been offered in Cyprus until now.
A rehabilitation center that will offer state-of-the-art therapies and rehabilitation protocols for postoperative patients, victims of accidents, patients with chronic illnesses and patients struggling with substance abuse.
The physical presence and prestige of the Hadassah organization in Cyprus, as well as access to the medical potential of unparalleled know-how and technology, are the guarantee of the project's success.
The total investment exceeds 150 million euros. A strong positive impact on the development of the Cypriot economy is expected, with over 1,500 jobs being created for locals.
Nicosia Hospital and Rehabilitation Center (NHRC) - Saint Loucas
The project is being implemented in Engomi. This is a new private hospital along with a modern rehabilitation center to be built west of the International State Fair. The partnership for the implementation and financing of the project is carried out with investors from abroad.
The new five-storey medical center will occupy a total area of 24 thousand m2. It is expected to be built on land belonging to the Holy Archdiocese of Cyprus in a privileged location. The project cost is estimated at 55 million euros. Work on the building will begin on February 15, 2022, with a "soft opening" scheduled for December 2024.
The hospital was designed by the international architecture firm HKS from Texas, USA, Dubai and Singapore in collaboration with Cyprus-based MDG Architects, which specializes in the design of high-end hospitals. The hospital will accommodate 145 beds, operating rooms, waiting areas and a first aid department.
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