The Department of Environment of Cyprus has received an application from Solvin Ltd for the construction of a new residential complex named Aqua Residences in Larnaca.
According to the release, the developer intends to build two 20-story towers next to the Larnaca - Dhekelia road, in an area where oil refineries were previously located.
The height of the buildings will be 67.7 meters, the total construction area will be about 23,000 square meters, and the residential area will be 27,224 square meters. Aqua Residences will consist of 114 apartments with one, two, and three bedrooms. For the convenience of the owners, the complex will have pools, a spa center, a gym, cafes, restaurants, and ample parking. Interestingly, 1294 square meters of land will be allocated for green spaces.
The implementation of the project will take about two years, and its preliminary cost is estimated at 7 million euros.
According to the developer, the ultimate goal is to meet the demand for residential real estate in the area and create new job opportunities.
It is worth noting that there are some obstacles in the way of project implementation.
The main one is significant soil erosion on the construction site. In fact, a large part of the land is currently submerged in the sea. In particular, in 1963, the area of the site was approximately 10,500 square meters, and today it has decreased to 6,200 square meters. Comparing these figures, it can be assumed that about 40% of the territory has undergone erosion since 1963.
The developer's plans include restoring the land to its original state using sand filling. It is expected that the length of the expanded area will be about 120 meters, and the maximum width of the restored beach will be approximately 40 meters.
In the Land Registry, the considered plot is 78% within the Coastal Area of Special Urban Planning (ZEAA) and 22% within the urban protection zone Da1. In the ZEAA zone, the main types of use are residential, touristic, commercial, and office spaces with a maximum permitted height of 68 meters and 15 floors.
