• Ilma Danielienė

The LOEL High Residential Project in Limassol receives Environmental Approval

The LOEL High Rise Residential Project has been approved for the construction of three residential towers of 29, 30 and 40 floors and a 6-storey building for parking in Tsiflikoudia, Limassol. The Environmental Authority of Cyprus approved the project after the changes in terms of building heights and a reduced number of apartments, from 609 to 497.

Limassol, Cyprus: 26 October 2020



The LOEL High Rise Residential Project will be constructed on the site of the former LOEL factory. The Project will remove the facilities of the old factory and construct 3 residential towers.

The ultimate goal of the LOEL Project is to meet the housing needs of Limassol Municipality and to strengthen the area with new event and exhibition spaces, accompanied by organized public and private green spaces and public parking.

The LOEL High Rise Residential Project comprises:

  • 497 Apartments

  • Parking spaces

  • A fitness centre including swimming pools and gym

  • Exhibition and event spaces

The total area of the buildings is planned at 32,271 sq.m. The area of the project will cover an area of approximately 8,150 sq.m. and the public parking will cover an area of approximately 4,300 sq.m.

  • Tower A comprises of 40 floors with a total height of 184.40 m. This will include 245 apartments, of which 51 are one-bedroom apartments; 109 are two-bedroom apartments; 78 are three-bedroom apartments; 6 are four-bedroom apartments; and 1 is a penthouse apartment). Additional amenities include a gym and restaurant.

  • Tower B comprises 30 floors with a total height 145.90 m. This will include 178 apartments, of which 48 are one-bedroom apartments; 71 are two-bedroom apartments; 52 are three-bedroom apartments; 6 are four-bedroom apartments; and 1 is a penthouse apartment. Amenities include a shared swimming pool with Tower C, gym and other common areas.

  • Tower C comprises 29 floors with a total height of 145.90 m. It consists of 186 apartments, of which 52 are one-bedroom apartments; 73 are two-bedroom apartments; 54 are three-bedroom apartments; 6 are four-bedroom apartments; and 1 is a penthouse apartment. Amenities include a, gym common areas and storage areas.

  • The basement level is open to all three buildings and includes 353 parking spaces, storage spaces and an engine room. The public parking consists of 6 floors and 1 basement (construction height 30.80 m.) and will include a total of 875 parking spaces.

Please note, that this was the original project. The number of apartments was reduced from 609 to 497.

The project is located in an urban/coastal area and borders several neighborhoods. The LIDL supermarket, the KEO factory, the Limassol Marina, and the Old Port of Limassol are located on the eastern border of the project.

Navigator Consulting supports property and tourism investments in Cyprus and Greece, and has extensive experience in due diligence on tourism and property investments.

For further information, please contact:

Philip Ammerman

Managing Director

info@navigator-consulting.com

Sources:

Πράσινο περιβαλλοντικής αρχής σε τρεις πύργους 29, 30 και 40 ορόφων στη Λεμεσό

Stockwatch. 26 October 2020

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