07.11.2022
Multi-million dollar developments are taking place in the mountain resorts of Cyprus, especially the Troodos region is becoming a magnet for investors. In particular, Platres and Prodromos are preparing to host residential and tourism projects that are expected to strengthen the tourism product and thus the economy of our island.
The following report presents the large-scale investments that are transforming the Troodos mountain regions and placing them on the investment map of our country.
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Berengarias
The historic hotel of Berengaria in the community of Prodromos comes to life, leaving the stone years of decay and reborn, entering a new era as an important landmark in the natural, architectural and business landscape of the island.
The iconic hotel will combine heritage elements with contemporary interiors.
It is a mixed tourist complex with hotel rooms, a modern spa and swimming pools, and a residential complex with houses and apartments.
The luxury boutique hotel will welcome its first guests in 2026.
It is worth noting that its long-awaited revival is becoming a reality thanks to a colossal investment of 35 million euros by the bbf: group and the management of the experienced Thanos Hotels & Resorts.
Tree Hotel
A special hotel will soon operate in Platres. This is the hotel “Derevo”, which is called the haven of mountain resorts.
Among other things, it will include 58 rooms with a total area of 1,905 sq.m., a wellness area (spa) with a gym, locker rooms, an indoor pool and multifunctional premises with a total area of 679 sq.m. m., as well as a restaurant with indoor and outdoor areas and a bar with a total area of 488 sq.m.
The cost of the project is four million euros.
Teacher
A luxury residential complex in Platres is in the process of implementation. Guru Mountain Resort, a DTA Group project, is expected to be completed at the end of 2024 with an investment of 98 million euros. This is a single residential and organized complex, which will consist of seven residential floors, a basement floor, etc.
In addition, it will include other independent residential units as well as parking spaces, two basements with 182 private parking spaces, warehouses and technical rooms. In addition, Guru will provide many amenities for residents and guests, including wellness areas, a gym, locker rooms, a swimming pool and a dining area.
Guru will consist of a building of 71 apartments (20 studios and 51 one-bedroom apartments), five maisonettes (lofts) and 22 residences.
Prices start at €315,000 for studios, €1,950,000 for residences, €2,580,000 for chalets and €3,200,000 for villas.
Offering the best possible experience for guests and homeowners, the resort, which will be operated by DTA, will offer extensive and exclusive amenities, as well as 24/7 service.
Chalet Les Platres
A total of 19 two-storey villas ranging from 910 sqm make up a new luxury residential complex to be created in Platres.
This is a unique complex of elegant wooden houses of special architecture and design, located in the heart of the Troodos Mountains.
Chalet Le Platres was built by Property Gallery.
The elite project will have huge terraces, spacious kitchens, large living rooms and cozy bedrooms.
Greenwood
A residential complex called Greenwood is planned by the Property Gallery. These are six separate cottages with three to four bedrooms, three of which have a pool. They are just 5 minutes from the famous Millomeris Falls and a 5-minute drive from the ski resort.
In addition to its chalet architectural style, the project integrates beautifully with the wider area, emphasizing the importance of sustainable architecture.
Platres Arena
Property Gallery Developers recently commissioned a completely refurbished sports center – Platres Arena.
The Platres Arena features a 1,500-capacity full-size soccer field, a 5×5 soccer field, basketball and volleyball courts, and two Australian Open hard acrylic tennis courts.
In addition to sporting events, Platres Arena can also be used as an entertainment venue for concerts and large-scale corporate events.
Access to mountains and real estate is also improved
In addition to the above developments, road projects are also moving forward that will improve access to the mountains.
In particular, the construction of the Limassol-Saitta motorway is underway, the construction of which began in September 2020 and should be completed in May 2023. Its construction works are in Phase A1.
The new Limassol-Saitta highway will have four lanes with a central dividing island, and its total length will be 22.5 km.
In addition, a road project relating to the Nicosia-Troodos highway is being promoted with the aim of breathing life into areas away from urban centers while at the same time improving the quality of life of residents. The cost of the motorway is 100 million euros, and its operation will last approximately three years.
