LIMASSOL municipality is currently evaluating a cabinet approval for the construction of two high-rise buildings near the coast, which appears to contradict a court decision on how the development will affect local residents, it emerged on Friday.
The case concerns the Blue Marine project, a €300 million investment undertaken by Leptos Estates set to be built near the marina, between Roosevelt Avenue and the KEO factory.
Spanning some 38,000 square meters, it will consist of two towers with 29 and 33 floors and two buildings with five and nine floors. They will include luxurious residences and state of the art offices.
The contested element of the project consists of a plan to scrap a public road so the construction can go ahead, according to daily newspaper Politis.
Two property owners with residences on the adjoining road contested the building permit and took the case to court, along with Limassol municipality, as they argued it would lower the value of their homes.
According to a spokeswoman for the municipality, the judge ruled that the approval granted to the developer to scrap the public road should be recalled.
Nonetheless, despite the court’s decision, cabinet gave the municipality the go ahead to grant Leptos Estates a permit for the Blue Marine project in the way it was originally planned.
“Limassol municipality will follow the provisions of the law,” said mayor Nicos Nicolaides, adding that they were evaluating how to proceed.
A representative of Leptos Estates was not immediately available for comment.
Nicolaides in a speech last week to give an overview of the Limassol’s progress and plans said while the huge boost the city has had in the field of construction should not be held back, proper regulations should be in place so that buildings do not get out of hand and there can be a ‘harmonious and productive introduction’ to new buildings.
Limassol has become home to many such high-rise buildings amidst growing concern they will become ‘ghost buildings’ because of people taking advantage of the citizenship through investment scheme, which states that foreigners who invest €2m in the property market or Cyprus-based companies, including a residence worth at least €500,000, can obtain citizenship.
Environmentalists also expressed concerns over Limassol’s quickly changing coastline. The sea front already houses many high-rise buildings, including One Residence, which will eventually be 170 metres and 37 storeys high, making it, according to developer Pafilia, the tallest residential coastal tower in Europe.
They argue that residents living behind the tall buildings will be cast into the shadows.