Further upgrades in the already developing area of western Nicosia are expected in the coming years to bring a series of major investments and projects that are in the works.
On the one hand, the commercial and amusement park Neo Plaza, which is under construction, and on the other hand, the promoted construction in the same area, of the long-awaited stadium of APOEL, are expected to launch Kokkinotrimithia, which in recent years has already seen significant residential development.
The culmination of the above will be the completion in 2023 of the Nicosia perimeter highway, a project which is expected to further reduce the time of transition from Nicosia to Kokkinotrimithia.
The Neo Plaza
The creation of the commercial and amusement park Neo Plaza, at the entrance of Kokkinotrimithia, is expected to bring completely fresh air to the area.
The project will be completed in March 2021 and will include about 45 to 50 shops, eight restaurants, and a large playground. According to InBusinessNews, the owner company has concluded agreements with well-known brands, while discussions are underway with companies and brands that do not have a presence in Cyprus. The park, the construction cost of which will exceed € 10 million, is expected to be a station for the further development of the area, as in addition to commercial activities, it will also offer space for major events, concerts and a summer cinema. In favor of the project and the fact that it will be an open park, which seems to be an advantage in the middle of the pandemic.
The new stadium of APOEL
In the same area, in plots of land very close to Neo Plaza, the long-awaited APOEL stadium will be built in the coming years. As Prodromos Petridis had stated during the recent General Assembly of the company APOEL Football LTD, the new stadium of the team is expected to be built in a leased space of 50,000 sq.m. owned by the Association in Kokkinotrimithia. In addition, in March 2020, APOEL submitted a request to KOA for the lease of an additional plot (of state land) which is adjacent to the aforementioned plot of land, as the stadium is expected to reach a total of at least 140,000 sq.m. According to Mr. Petridis, the preliminary plans concern a stadium of 13,000 seats with the possibility of future expansion at any stage to 19,000 to 20,000 seats.
The Nicosia ring road
Besides the completion in 2023 of the Nicosia ring road is expected to further reduce the arrival time in Kokkinotrimithia. As announced by the Department of Public Works, this project, with a total cost of € 23.6 million, is expected to alleviate traffic congestion at the entrance of Nicosia, providing an alternative route and connecting the southeastern and southwestern suburbs of Nicosia, without requiring the passage of vehicles through Spyros Kyprianou and Kalamon Avenues.
Landmark projects for the development of the area
The above projects in combination with the operation of the last two years of the nearby Nicosia Mall, have given a significant impetus for further residential and commercial developments in Western Nicosia. Major development and commercial projects made areas such as Kokkinotrimithia, Paliometocho, and Agioi Trimithias particularly popular. Also noteworthy is the residential development that has recently begun to be observed in these areas.
Source: inbusinessnews