The Cyprus Department of Environmental Protection has issued a license for the construction and operation of a new mixed-use complex to Iskario Trading Ltd.
According to the department, the cost of the project is estimated at €37m.
The developer plans to realize it in the Kato Polemidia area of Limassol. According to the idea, Iskario Trading Ltd will build a mixed-use complex consisting of two identical buildings 48 metres high. Each block will consist of one underground level, which will be equipped with a car park, mezzanine and 9 ground floors, where flats and offices will be located. In addition, a large covered terrace will be provided on the roof of each building.
It should be noted that there is now a commercial building of about 600 m2 on the development site.
The developer has applied for the demolition of this object. By the way, the demolition works will precede the construction of new buildings. The total estimated construction area on which the above-mentioned works can be carried out will be about 700 m2.
The project will be realised in one stage and construction works will start in September 2025. It is planned to deliver the complex within 30 months.
The department mentioned that this project will not be subject to a special environmental assessment because it is not located in a protected area of the Natura 2000 network. The project area does not fall within a zone of special protection or an object of public importance.