The Cyprus Department of the Environment has approved the construction of two new high-rises, which will become part of the Landmark Project - Office and Residential Tower Development in Nicosia.
The international hotel chain Marriott will take part in the implementation of the grandiose project.
According to the release, the developer intends to build a 13,795 m2 17-storey residential high-rise with 53 apartments and a 26,640 m2 16-storey office building on the site where the Landmark hotel complex is now located. Each high-rise will have a two-level underground parking. The total parking capacity will be 476 parking spaces, of which 15 will be allocated for people with disabilities and 59 for bicycles.
It should be noted that the hotel currently has a ground parking for 493 parking spaces, of which 10 are for disabled people and 152 for bicycles.
The site plan also includes the modernization of the existing Landmark Hotel (formerly the Hilton), for which a separate application was previously submitted and approved by the Department of Environment.
The project will be located in one of the most strategic sites in Nicosia at number 1183 and block 1023 (sheet / plan: 21/550401, department: 03), in the area of Agios Omologites. The eastern end of Site 1183 is adjacent to Archbishop Makarios III Avenue, and its southern end is adjacent to Kennedy Avenue. Block 1023 is located on Kennedy Avenue.
It is worth noting that for the implementation of the new project, the developer intends to demolish the existing house in block 1023, as well as a small structure (a former gas station office building) in block 1183.
It is expected that the construction of new high-rises will take about 30 months. The work will be completed by the end of November 2023.
At the same time, the owner of the project intends to provide the office building with a Gold LEED certificate.
With the high-rises, the value of the area is expected to increase several times. The project manager said the construction of the new skyscrapers will help restore The Landmark Hotel to its former glory, modernize the infrastructure and expand the operations of the hotel, which now plays a leading role in the tourism and economic development of Nicosia.
The project cost is estimated at 70 million euros.
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