CYPRUS: Limassol’s Debenhams Olympia to be replaced by a tower

Debenhams Olympia, one of Limassol’s shopping landmarks is to be knocked down to make way for a 45-storey luxury apartment block on the town’s seafront.

The Shacolas Group, owner of the property, has submitted an Environmental Impact Assessment Study covering all three phases of the proposed residential development to be named ‘Aura’.

The study covers the demolition of the existing building, the construction and operation of the new development.

Demolition work could start as soon with town planning permission expected to be issued within the next 3-4 months. The construction phase is expected to begin within the year, once the necessary building permits are obtained, and the project aims to be completed by the end of 2022.

Debenhams Olympia is a three-storey building attached to three parking lots which are included in the plans for the development.

Apart from apartments, the 45-storey building will host to restaurants, entertainment facilities, a public park and multilayer parking.