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Chinese investors make a deal for 30 million euros

18.10.2019

Chinese investors acquired a plot of land of 32,271 square meters. in the Tsiflikudiya area in Limassol north of Limassol Marina worth € 30 million with the Bank of Cyprus. Specific property was transferred during the restructuring of loans to Laiko Group. Four adjacent land plots with a total area of ​​32,271 sq. m. are involved in the transaction, where multi-purpose construction is planned. Most of the property (31,171 sq. M) is located in the residential area, and a smaller part (11,100 sq. M) is in the commercial area.

This rectangular piece of land starts from Franklin Roosevelt Avenue (next to the Lidl supermarket) and extends almost to the sea in the Carnaggio area. The initial selling price was 33 million euros.

The project will include three multi-story towers - 35 floors - of commercial and entertainment buildings. Due to the fact that development in the eastern part of the Karnaggio region has reached its limit, investment activity now seems to be aimed at the one that has passed to Chinese investors and not only. Construction work has already been announced for the Limassol Blu Marine project, which will also include three multi-story towers. In addition, the area between Limassol Marina and the New Port also has several other industrial sites located in first-class territory.

The revised plan of the city center of the city, which is currently being developed by the municipal council, will play a decisive role in the development of this area, since it includes the Karnaggio area through which the city will be associated with new construction in western Limassol.

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