The town planning department has approved building permit toconstruct two 12-storey high-rise buildings and 122 apartments at Geroskipou inPaphos as part of the Peninsula Resort project.
A proposed €3.4 billion resort development project inGeroskipou, Paphos has been given the go ahead with building permits issued toconstruct two 12-storey high-rises with a total of 122 apartments.
The residential development, called Peninsula resort, ispart of the larger 200-hectare Eden City Cyprus project, a joint venture of theArchbishop of Cyprus and ATUM Developments Ltd, headed by Hungarian tycoonSandor Kenyeres.
The Peninsula Resort phase was given the green light by theTown Planning Department after the Department of Antiquities submitted apositive report regarding the planned construction in the area belonging to theChurch of Cyprus.
The Antiquities Department and the consortium are incomplete agreement regarding the protection of archaeological remnants locatedwithin the site in question.
It is also expected that the Department of Antiquities willcontinue its excavations in the western part of the site, where the companyplans to build a luxury hotel but has not taken any action pending thecompletion of the building permits procedure.
The Peninsula Resort, according to the environmental studyfiled with the Environment Department, is to include a 14-storey five-starhotel (the largest tower) with 220 rooms and two 12-storey high-rises with atotal of 122 apartments, at an estimated cost of more than €100 mln.
Eden City consists of three parts: the Peninsula Resort, thefirst phase, which will be constructed on church-owned land, the Garden of Eden(a business area) also to be built on state-owned land and Divina Island, aman-made island development to be created off the peninsula.
The artificial ‘luxury lifestyle’ island, will cover 137hectares, and is to include beachfront villas and a marina with a capacity of500 boats.
The construction of Eden City has been beset by delays asthe government and the consortium have yet to come to an agreement over theannual rent to be paid for the use of state land.
Meanwhile, the list of developers exhibiting an interest inbuilding luxury high-rise accommodation on the southwest coast of the island isgrowing bigger. In Limassol, already well-established players are leading thehigh-rise construction sector.