€856 mln development to upgrade Limassol

A large-scale mixed-use development project is in the pipeline in Limassol’s Agia Fyla aims to transform the area into an innovation and business hub.

Costing €856 mln, the project’s developers envision world-class educational facilities and a leading business park infrastructure.

According to reports, behind the ambitious project is Nicosia-based Rofeno Properties Ltd.

A detailed environmental impact assessment study (EIA) became subject to public consultation by the Department of Environment this week.

The whole project covers a land area of 949,916 m2 with a total buildable area of 350,785 m2.

The complex will also include an integrated residential development surrounded by green parks and supporting social, recreational and spatial infrastructure.

The project also plans to provide a private school, a medical centre, and a European-branded rehabilitation centre supporting a range of assisted living facilities and a research and innovation centre.

Sports facilities include a 600-seat football stadium and eight tennis courts to be used by an academy, a volleyball and basketball court, and an Olympic-size swimming pool.

Based on the plans, the proposed project’s construction is expected to be carried out gradually and will be completed by 2030.

A school will be built in two stages, with the first phase expected to be completed by September 2024.

The school will also have a nursery, primary and secondary education with a total capacity of 2,000 pupils with 256 staff.

The residential development will include 1,752 units of various sizes (1 to 4-bedroom apartments, 3-bedroom- and 4-bedroom townhouses) and a hotel.