The Courtyard to Be Erected in Nicosia

В Никосии возведут масштабный комплекс The Courtyard
4 November 2021 Liza Medvetskaya

The Cyprus Environment Department has approved the construction of a new housing project called The Courtyard in Nicosia.

According to the release, the developer company Green Park Residences intends to build a large complex within the administrative boundaries of the municipality of Strovolos. The complex will have five 6-storey houses for 65 apartments:

  1. the first and second buildings - Lemon and Orange Tree Residences (building A-B) will have 2-bedroom apartments,
  2. the third and fourth ones - Almond and Olive Tree Residences (building C and D) should house 3-bedroom apartments,
  3. the fifth building - Pine Tree Residence (Building E) will have 4-bedroom apartments,
  4. the fifth - Oak Tree Residences (building G) - 4-bedroom apartments.

The total area of the building site will be 14,335 m2, and the living area will be 9,176 m2. The project will also have a spacious underground parking area of 5200 m2 for 140 parking spaces, 5 of which will be allocated for people with disabilities.

It is expected that about 253 people will live in the new complex in total. For the convenience of The Courtyard residents: a well-maintained recreation area, a closed house territory and a ban on the movement of cars inside the complex.

According to the project, controlled access for vehicles and pedestrians will be carried out on the southern side of the building site, from where cars will be directed directly to the underground parking lot, with the exception of guest cars, for which a small parking lot for 9 cars, including 1 for disabled people, will be equipped.

The project implementation period is 2 years, its estimated cost is about 15 million euros.

The developer first intends to erect an underground parking lot, then work will begin simultaneously on the construction of five apartment buildings. 

After the completion of work on residential facilities, a road network will be formed and landscaping will begin. Financing of the project will be carried out at the expense of the group of investors' own funds in conjunction with lending.

It is worth noting that Green Park Residences plans to develop other similar projects in Cyprus after The Courtyard is implemented.

В Никосии возведут масштабный комплекс The Courtyard

More detailed information about new projects in Cyprus can be found on DOM Real Estate Portal. The website presents more than 20,000 properties in Limassol, Paphos and Larnaca - from residential to commercial. Choose and contact professionals who will help you make the right choice!
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