For decades, Kato Polemidia was seen as one of Limassol’s quieter outer districts, known mostly for its industrial areas, military housing estates and easy highway access. But behind the scenes, the area has been steadily preparing for something much bigger.

Today, that transformation is becoming impossible to ignore.

At the centre of it is Verengaria, the former British military settlement that once housed army families during the colonial period. For years, the area stood largely abandoned, frozen in time behind empty buildings and ageing infrastructure. Now, it is being reimagined as one of Limassol’s most ambitious urban regeneration projects.

The Cyprus University of Technology is leading much of that transition through a long-term expansion plan expected to exceed €125 million. Nearby, a new €56-million student residence project with more than 500 rooms is already under construction, helping shape the foundations of a new university and innovation district in western Limassol.

The International Jewish Academy of Excellence is also expected to open in 2027, bringing approximately 1,500 students into the area. Existing schools including Pascal, Heritage and The Island Private School already serve the wider neighbourhood, further strengthening Kato Polemidia’s position as an emerging education hub.

But the vision extends well beyond education.

Kato Polemidia is becoming one of Limassol's most watched addresses. Here's why.
Kato Polemidia is becoming one of Limassol's most watched addresses. Here's why.

Plans for the area include a 52,000-square-metre green park connected to the Garyllis Linear Park, alongside an Olympic standard swimming pool and athletic complex currently under development. Combined with direct highway access less than a kilometre away, the district is rapidly evolving into one of the city’s most strategically-positioned residential areas.

With major infrastructure arriving at the same time as institutional investment, many analysts expect Kato Polemidia to experience some of the strongest long-term demand growth in Limassol over the coming years.

Against this backdrop, developer SquareOne is preparing to launch ZOIA, a new residential community designed around a more connected and community-driven way of living.

ZOIA will feature more than 150 units with one-, two- and three-bedroom apartments across a five-storey development in one of Limassol’s fastest-evolving districts.

The project takes its name from the Greek word for life, and the concept reflects that philosophy throughout the development. Rather than focusing only on amenities, SquareOne is placing emphasis on how residents actually live and interact through two dedicated on-site community managers, a residents’ mobile app and a programme of activities intended to encourage real connections between neighbours.

Residents will be able to join interest groups, organise events, reserve facilities and connect directly through the app, bringing elements of modern co-living into a more traditional ownership model.

Facilities at ZOIA include a full-size outdoor swimming pool, gym, sauna, landscaped gardens, children’s playground and BBQ area. Selected penthouses will also feature private rooftop gardens.

For investors, the timing is attracting increasing attention. SquareOne projects rental yields above 7 per cent based on growing demand from students, professionals and employees connected to the institutions and businesses moving into the wider area. Buyers seeking a more passive investment approach can also access a fully-managed option, offering a guaranteed 6-per cent annual return from day one through the developer’s property management partner.

The broader Limassol market continues to support that momentum. Apartment prices in the city rose by more than 20 per cent in 2024, driven by sustained demand from international companies and professionals relocating to Cyprus. Limassol remains home to regional headquarters across the finance, technology, gaming and FX sectors, creating consistent pressure on quality rental supply.

As an off-plan development, ZOIA is currently available at pre-launch pricing ahead of its official June release.

For international buyers, Cyprus continues to offer additional advantages, including no annual property tax, 0 per cent dividend tax for non-domiciled residents and permanent residency eligibility through a €300,000 property investment.

Contact the SquareOne sales team: [email protected] | 70088084 | squareone.com.cy