As part of the 20th Real Estate and Construction Conference, the Mayor of Limassol Yannis Armeftis emphasized that the development priority is transforming Limassol into a “green” and technologically advanced city. The main goal is to improve citizens’ daily lives through sustainable urban mobility and addressing transportation issues. The administration plans to reduce harmful emissions by 70% over the next five years. The mayor noted that development success should be measured not only by sales volume but also by how comfortable the urban environment becomes for residents.
Limassol Local Government Organisation President Yannis Tsouloftas noted a significant increase in construction activity: the number of building permits issued has doubled compared to previous years. However, this growth still doesn’t fully meet the needs of the economy. However, this growth still does not fully meet the needs of the economy. critical barriers were named :
- High demand for affordable housing .
- The need to simplify the legislative framework and speed up the licensing process.
- Fighting bureaucracy to improve the city’s international competitiveness.
In turn, the founder of Atlas Pantou Group Tonis Toumazis highlighted the factors influencing the cost of projects. According to him, land and building material prices continue to rise, and the introduction of modern energy efficiency standards and underfloor heating systems, while improving the quality of residential real estate , also increases the financial burden on projects.
The discussion participants agreed: the district’s future lies in a combination of innovation, cultural heritage protection, and affordable living conditions. Limassol has every chance of becoming a leading innovation hub in the region if development is focused on residents’ interests, digitalization of processes, and high-quality residential real estate. Over the next ten years, Limassol should remain attractive to both Cypriot families and major international investors.
