Pafilia property developers are planning to build four highrise residential towers in Limassol of 43, 38, 31 and 25 storeys next toLimassol Municipal gardens, the tallest of which will reach 173 metres. PafiliaProperty developers have been given the green light by the environmentalauthorities to construct a new high rise project “Limassol Neo” on landadjacent to the Limassol Municipal gardens on the seafront promenade andopposite the zoo.
At an estimated cost of €250 million, the project willconsist of four residential towers of 43, 38, 31 and 25 stories, with a totalof 345 apartments. Plans include a club house, commercial areas of 2,100 sqm.including restaurants and shops, parking for 1,473 cars, a public green area of3,990 sqm., a public square of 4,871 sqm., and landscaped areas.
It is anticipated that the development will he home tosomewhere in the region of 740 residents, most of whom will use the apartmentsas second/holiday homes.
In 2010 Pafilia was granted relevant approvals to constructa high rise development at the same location known as “Limassol Landmark”,which consisted of a 29 floor tower, two smaller buildings with 233 residentialunits 14 shops and three restaurants. If all goes according to plan theconstruction of “Limassol Neo” will start in March 2019 and is estimated to becompleted in 2024.
In addition to this Pafilia development, 23 further towersin Limassol have been granted planning permission; a total of 52 applicationsfor the construction of high rise developments have been submitted.