Cyprus real estate is in high demand among foreigners. Many are attracted to the island by its perfect climate, comfortable lifestyle, developed infrastructure, and favorable taxation. While in the past, the majority of sales were for houses and apartments, in recent years, commercial real estate has gained significant popularity, especially due to the mass relocation of foreign companies.
Today, the demand for office spaces in Cyprus far exceeds the supply. To meet the growing needs, local developers are actively constructing commercial properties.
Recently, the Cyprus Department of Environment issued a permit to Costa Palona Ltd for the construction of a new office tower in Limassol.
According to the release, the commercial building will be erected in the city center, close to the marina.
The project's location is excellent, boasting a vibrant neighborhood with cafes, restaurants, pharmacies, shops, banks, and more within walking distance.
The 51.8-meter tall building will comprise 11 floors, accommodating 33 state-of-the-art office spaces.
Spacious terraces will be available on all levels, offering magnificent views of the surroundings. The building will have an energy efficiency certification of class A.
Each space will be equipped with a concealed VRV air conditioning system, security and fire suppression systems. For employee convenience, a 2-level underground parking for 161 vehicles will be provided, including 8 spaces for people with limited mobility.
The main goal of the project is to address a portion of the labor and commercial needs in Limassol. It is anticipated that the construction of this office building will create new jobs and further enhance the region by strengthening its socio-economic character.
The project is expected to be completed by the end of 2025.
Detailed information about all projects in Limassol can be obtained from the experts at the number 1 real estate agency in Cyprus, DOM, by calling +357 25 212 212, or by arranging a personal meeting at the address: Demetri Psatha 24, Kolonakiou 4102, Limassol, Cyprus.