A residential complex will be built in Larnaca for 50 million euros

A new residential complex is to be built in Larnaca.

On Monday 14 October, a presentation was made of the large-scale project, which is being promoted by Ukrainian businessman and managing director of the international architectural firm Oppenheim Architects, Mykola Sushko.

According to the investor, all the necessary documents for obtaining a construction permit were submitted to the Ministry of Environmental Protection in March 2023. Barring any force majeure, the licence should be issued by the end of 2024.

According to the release, the residential complex will be built in the coastal area of the Pila district, on a plot of land with a total area of 30,000 m2. The project will consist of 36 luxury two-storey villas with private swimming pools and parking spaces. For the convenience of the owners, there will be a tennis court, gym, cafeteria, large communal pool and green areas. The construction will take into account the peculiarities of Cypriot architecture. A banqueting hall will also be built as part of the project, close to the residential complex.

The cost of the project is estimated at 50 million euros. It will take approximately 2 years to complete. Work will commence once all the necessary permits have been obtained.

The Pyla district is the smallest part of the Larnaca coastal agglomeration.

It is only 2 kilometres long. But it is also the most unusual. With good urban planning, taking into account all of Larnaca's advantages (airport, geographical location, climate and property prices), this neighbourhood could become a frontrunner in the number of new projects in the coming decades.