The Cyprus Department of Environmental Protection will decide on Tuesday whether to issue a permit for the construction of a large-scale mixed-use complex in Limassol's Agia Fyla neighborhood.
This was announced on Wednesday, February 28, by a spokesman for the department.
He noted that it is an application from the company Rofeno Properties Limited, which belongs to an Israeli investor with Cypriot citizenship Yakir Gabay. The project includes educational, commercial, and residential facilities, as well as an extensive green zone. By the way, for the realization of his idea in 2021 Gabay bought from the Bank of Cyprus a huge plot of land of 949 916 m2 for 28 million euros. Based on the building ratio on it, the facilities will occupy 350,785 m2.
If the department grants a license to the Israeli investor, the Agia Fyla area will be radically transformed by 2039. It will include:
- a world-class private school, with a kindergarten (capacity of 2,000 children and 256 staff members);
- a rehabilitation center of European quality standards;
- a center for research and innovation;
- business park;
- a multifunctional sports center Facility Sports, which will include soccer fields, tennis courts, volleyball and basketball courts, as well as a gym with an Olympic-sized swimming pool and an ice rink;
- a large green area with pedestrian and bicycle paths;
- a residential complex of a closed type with convenient shopping and entertainment infrastructure for its residents (a total of 1,752 apartments of various sizes, as well as townhouses with 3 and 4 bedrooms).
According to the idea, the construction of objects will be held in two phases. During the first phase, 50% of the school, 50% of the business park, 50% of the research and innovation center, and part of the residential facilities will be built. During the second phase, all the buildings and facilities that have been started and are part of the overall plan will be completed.
As for the construction schedule, Phase A will be completed in 2025, and Phase B will be realized gradually, by 2039. The total cost of the project realization is estimated at 850 million euros.