The mayor of Limassol Nicos Nicolaides announced on Wednesday that, by the end of 2021, he will announce tenders for the construction of 150 apartments in the neighbourhood of Ayios Nikolaos, as part of the agreement on affordable housing signed between the Limassol municipality and the Cyprus land development corporation (KOAG).
Nicolaides’ statement came after a teleconference with KOAG president Marios Pelekanou on Wednesday.
“This will be the largest housing project ever carried out in Cyprus and it will cost around €100m,” he said.
Nicolaides said the project is a historical one for Limassol and for the country in general.
“With this project, we want to meet the housing needs of low-income families, students and young couples,” he said.
“Moreover, the whole complex was designed on the basis of sustainability in order to provide long-term economic, social and environmental benefits, not only for the people who will live in the new houses, but for the whole city and for present and future generations.”
The 150-apartment complex will consist of 600 residential units of various sizes built over three blocks in an area of over 30,00 square metres.