Cyprus Property News for home buyers & real estate investors in Cyprus

4th December 2021
Cyprus Property News logo
HomeProperty NewsNew high-rise in Limassol

New high-rise in Limassol

The Department of the Environment has given the green light for the construction of a 15 storey high-rise in Limassol.

The proposed development is located on Alasias and Dimitri Glinou streets close to Makarios Avenue in four plots with a total area of 2134m2. An abandoned building on the land will be demolished to make way for the development.

The commercial development will rise to a height of 75.55 metres with independent office and green spaces and parking. The high-rise building will comprise

  • Three basement levels will provide parking for 185 cars, including 12 disabled parking spaces.
  • Ground floor will provide parking for 22 vehicles (including 2 disabled parking spaces), reception and waiting area and a green area of 750m2.
  • Floors 1 – 5 will provide office accommodation, kitchen and bathrooms.
  • Floor 6 will provide for the installation of mechanical equipment.
  • Floor 7 will provide an exhibition area, kitchen and bathrooms.
  • Floors 8 – 15 will provide office accommodation, kitchen and bathrooms.
  • There will be a garden on the roof and space for photovoltaic panels.

In addition, the basement levels of the proposed project will be amalgamated with the basements of 2 adjacent existing buildings, which are currently used as offices and belong to the same owner.

The local area comprises residential, commercial and tourist developments, public and private service offices, schools, churches, shops, etc.

Approximately 30 metres to the southeast of the proposed high-rise is the site of the “Neocleous Tower“; a 14 storey high-rise commercial building with a single luxury apartment on Makarios Avenue.

Sign up to receive our free Cyprus property newsletter

We guarantee that we do not spam and will not divulge your email address to any third party.

Read our privacy policy for more information.

Cyprus property transfer fees

Property capital gains tax (CGT) calculator

EUR - Euro Member Countries

Top Stories