Before the Planning Commission of the City of Limassol, two large multi-million projects of the Group Pafilia will be presented on Monday, which involve high-rise building complexes.
Limassol Landmark has already secured preliminary license but due to the revision of the local plan, the company claims more meters, adding 2 more floors at the existing 28. The Limassol Landmark located next to the Public Garden, will include 233 luxury apartments, spa, fitness center, lobby and business center and a plaza around which are to be developed 14 commercial units. The cost of the project amounts to € 370 million.
The second project, which Pafilia hasn't named yet but will also be impressive, will rise at the old ETKO factory next to the twin towers which were finished recently. This mixed development will cover 15,000 and consists of shops, offices and apartments. The complex will be about 20 storeys. As reported by the "F" Group, Chairman of Pafilia Ilias Iliadis, negotiations with serious investors have ended and financing of the project costing € 35m. is already ensured. The design of both developments is undertaken by the internationally renowned architectural firm Atkins.
Mr. Eliades, generally referring to the new type of building developments and explaining the reasons that led the Group to put a second project in the market, he expressed the view that "in the end of 2013 Limassol will be the first to receive the new wave of development in Cyprus and benefits of the energy sector. " Alongside the development projects taking place in the city and particularly in the coastal front is evident, he says, that Limassol has a dynamic that other cities don't.
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