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Wolga Multifunctional Development – a new investment project in the Pyrgos area

Wolga Multifunctional Development – a new investment project in the Pyrgos area

A large multifunctional project called Wolga is planned for the Pyrgos area on the eastern outskirts of Limassol. The project is being developed by Jomento Properties Ltd. The development will combine residential properties, a hotel, sports facilities, recreation areas, and public spaces, making it one of the largest projects in the region in the last decade.

Wolga will consist of three main residential buildings, each with a different number of bedrooms:

  • Building A (height 27.32 m): one-, two- and three-bedroom apartments.
  • Building B (34.33 m): apartments with one to four bedrooms.
  • Building C (27.24 m): one-, two- and three -bedroom apartments.

In addition to the residential part, the complex includes the construction of a hotel with 80 double rooms (160 beds in total), as well as a developed sports infrastructure.

The project includes:

  • 8 tennis courts;
  • padel courts;
  • mini-football field;
  • basketball court;
  • tennis club.

For recreation and water activities, the complex will feature six swimming pools of varying capacities, including:

  1. Swimming pools near residential buildings:
  • Building A – 120 m³
  • Building B – 100 m³
  • Building C – 125 m³
  1. The swimming pool near the restaurant is 900 m³
  2. Hotel pools:
  • Open – 650 m³
  • Closed – 60 m³

Infrastructure, cost and implementation timeframe

Infrastructure development involves expanding the existing road network and creating new access roads, including the construction of a new road in the north of the site that will connect the project with the road to the local quarries.

The project will also include the improvement of almost 8,000 m² of green space, including public areas and landscape design.

The total cost of the project is estimated at €45 million; construction will be carried out in two stages and will last about three years.

Economic and social significance of the project

Wolga is positioned as a project capable of enhancing the investment appeal of eastern Limassol and creating new jobs in construction, tourism, and service. Its mixed-use format simultaneously addresses demand in tourism, sports, and luxury residential real estate.

The project fits harmoniously into the current strategy of environmental development of Cyprus, combining environmental solutions, integrated zoning and infrastructural modernization of the Pyrgos area.

 

Text based on materials from www.inbusinessnews.reporter.com.cy.com, photo pixabay.com

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