The Cyprus Department of Environment has approved a big project to be built on the site of a former commercial center called the Sun Tower in Nicosia.
The building is located in the prestigious Strovolou area in the center of the capital. In 2020, it was sold to the Cyprus Association of Bankers (ETYK) for 3 million euros.
The area of the building is 4,700 m2, and the plot of land on which it stands is 2,283 m2.
The new owner plans to modernize the existing building, as well as build a new high-rise building on the site of the current parking lot - Blocks A and B.
Block A with an area of 6057.76 m2 will include office rooms, common areas, conference rooms, kitchen, engine room, toilets and reception areas.
Block B with an area of 9,373 m2 will be given over to a private medical center, which will have:
- reception;
- departments of MRI, CT, ultrasound, intensive care, mammography;
- laboratories;
- operating rooms;
- consulting, x-ray, radiological room;
- wards for patients;
- dining room.
Since the construction rate on the purchased site is 160%, it allows the construction of 6-story buildings with a maximum height of 24 meters on it.
However, the project includes two blocks, which will consist of basements, a basement floor, three ground floors and a roof with a canopy for installing photovoltaic panels.
For the convenience of customers and staff, a spacious parking lot for 209 cars is also provided.
The total cost of the project is estimated at 8 million euros. Its implementation will take about 36 months.
The proposed development will have entrances from Strovolou Avenue and Apostolou Markou Street.
Detailed information about all projects in Nicosia can be obtained from the specialists of the No. 1 real estate agency in Cyprus DOM by phone +357 22 030670, or in person at: Archiepiskopou Makariou III 1, Lakatamia 2324, Nicosia, Cyprus.