16.08.2022
Various areas of Cyprus are being enriched with new towers that concern residential, commercial and mixed developments and are planned to be realized in the coming years, with most of them located in Limassol. These are both foreign and Cypriot investments, including two towers that are being prepared by the Holy Archdiocese of Cyprus.
Some of the towers that are expected to be erected in the next period. The developments below are either pending approval from the Department of the Environment or the City Planning Authority, or have recently received the green light and are in the early stages of construction.
Signature Residences: new Property Gallery project
The new tower is being prepared by Property Gallery on the beach of Limassol, specifically on the famous Dasoudi beach. Construction work has recently begun on Signature Residences. The tower will feature 29 elegant one to four bedroom apartments, two luxury penthouses, office space and retail, and will offer the equivalent of a five-star hotel.
SunMar Tower: 110m tower
Limassol is expected to acquire a new high-rise residential project. SunMar Tower consists of 79 apartments, and the total height of the building will be 110 meters. The quarter will also have underground parking, swimming pools, a spa and many other facilities. The construction of the project was undertaken by Crona Group. The project architect is Panos Panayiotou + Associates (PPA Architects) and the mechanical services were performed by DDA Mechanical Consulting Engineer.
Development of 49 meters and 6.1 million euros by Marcuji Ltd.
The construction and operation of an office complex in Limassol is planned by Marcuji Ltd. The proposed project, located within the administrative boundaries of the municipality of Yermasogeia, is under review by the Department of the Environment and is awaiting construction approval. It will consist of nine levels above ground plus a mezzanine, as well as two underground levels, and will also include parking and engineering areas. The total height of the building will be approximately 49 meters from ground level. The estimated cost of the project is 6,100,000 euros.
Staston Project: Two residential towers in Larnaca
In June 2022, the Department of the Environment gave the green light for the construction and operation of two new residential towers, Tower A and Tower B, as well as the five-star Staston Project Hotel in Larnaca. The entire project concerns residential, commercial, office and tourist developments in the district of Chrysopolitissa, on Makariou III Avenue in the municipality of Larnaca. The owner of the project is the company of Lebanese interests OMIKRO KTIMATIKI LTD. The height of the two residential towers (Tower A & Tower B) will be 75.66 m and 103 m and will consist of 19 and 27 floors. As for the five-star hotel, its height will be 100.75 meters, in total it will have 25 floors and a capacity of 168 rooms.
Mackenzie tower
The project received EPA approval in March 2022 with prior public consultation. Mackenzie Tower, built by ELITE ISLAND PROPERTIES, concerns residential developments in Larnaca and in particular in the Skala area. The building will have 10 floors and will be about 34 meters high, it will have a total of 57 apartments, two levels with parking spaces, a basement and ground floor space.
Two new towers and the reconstruction of “Milestones”
The renovation of The Landmark Hotel in Nicosia is underway, as is the construction of two towers that will be erected on its outdoor site as part of the Landmark Project-Office and Residential Tower Development. Work has begun and is progressing at an intensive pace, the estimated cost of the project is about 70 million euros. The ongoing project concerns a residential and office-commercial development where two towers will co-exist with an existing hotel and will be developed as two separate buildings.
Archdiocese prepares two towers
In July , the Holy Archdiocese of Cyprus received the green light for the construction of two residential towers with 112 apartments in Geroskipou. In particular, towers called Amethyst & Aquamarine Residential Towers are to be built on Poseidonos Avenue, with a building permit already issued. It is worth noting that, along with the two towers, the Archdiocese is also preparing the construction of a five-star Diamond Essence Hotel.
