Russian property developer BBF is planning to build a €189 million development project on the historic KEAN soft drinks factory site in Limassol.
The project, in the Agios Athanasios area, will include five hi-rise buildings with a mix of office and residential spaces, underground parking, space for shops and businesses, and a central public square.
According to the environmental impact assessment submitted by the company, the project will consist of four residential buildings and one office building.
The development will span 46,162 square metres in total, with 40,768 square metres available for building after setting aside land for public infrastructure.
Buildings over 80 metres
Buildings 1 and 2 will be on the southeast and southwest corners of the site, each with a ground floor and 19 floors of apartments. Their height will be about 84 and 85 metres. Shops and leisure areas will be located on the ground floor, while parking will be in the basement and semi-basement.
Building 3, on the eastern side, will be for offices. It will have a ground floor and 17 floors, with a total height of around 71.15 metres. Parking will also be on the ground, basement, and semi-basement levels.
Buildings 4 and 5 will be on the northwest and northeast parts of the site. Building 4 will have 13 floors above the ground floor and be about 58.25 metres high. Building 5 will have 9 floors and stand around 39.15 metres tall. Both will also have parking on the ground, basement, and semi-basement levels.
There will also be a shared space between buildings 3 and 5 on the eastern side of the site, serving as a community centre for residents. This building will not exceed 10 metres in height.
Three phase project
The whole project is expected to be completed over six years (72 months) in three phases.
- Phase 1: Starts in January 2026 and focuses on the residential buildings. Expected to finish in 2029.
- Phase 2: Includes the construction of the office building, to be completed by December 2029.
- Phase 3: Involves the remaining residential buildings and will be finished by December 2031.
During an environmental survey, 16 types of plants were found on the site, including cypress trees and decorative plants like oleanders. An olive grove with 150 olive trees of various ages was also identified in the northeast corner.
The site falls under three urban planning zones: commercial, tourist, and mixed residential. The wider area includes residential and tourist developments, as well as other construction projects currently underway.
KEAN factory relocation
Meanwhile, KEAN is relocating its production factory to a new site with the aim of modernising operations and strengthening its position in the Cypriot market.
The factory will be moved to the first industrial area of Ypsonas, at the former Couvas cardboard box factory site, which has already been purchased by KEAN investors, the company’s General Manager Marios Kasapis told philenews.
The relocation is expected to take approximately two years to complete and will be implemented gradually without any interruption to production, Kasapis said.
“All KEAN products will continue to be available uninterrupted on supermarket shelves and in every Cypriot household throughout the transition period,” Kasapis assured consumers.
The plot where the new facilities will be built is government-owned and has already been acquired through Gordian company.
The company is currently awaiting approval from the Ministry of Commerce for the transfer of the lease before commencing works.
KEAN remains one of the last major Cypriot brands in the consumer goods sector and is “committed to maintaining local production and employment”. The company has assured that all its operations will continue to be conducted in Cyprus, securing employment for all its staff.
KEAN has more than 25% market share of local juices and citrus fruits-based soft drinks.
In recent years, the company has expanded its presence in the HORECA (Hotel, Restaurant, and Café/Catering) industry by importing brands such as HEINZ/KRAFT, HP, L&P, AMOY, VITALIA, FARLEY’S CALVO (tuna and salads), GO TAN (noodles and sauces), PELLITO NUTS and other food products.
