platres

Limassol continues to dominate high-end property sales

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Limassol continues to dominate high-end property sales

The ten most expensive property sales in Cyprus in April totaled €16.2 million, with Limassol being prominent in the high-end market. The highlight was a house in Paphos’ Kouklia that sold for €3 million. Limassol had the highest total transactions at €10.3 million, followed by Paphos at €4.9 million and Nicosia at €1 million. In the larger context of the 50 most expensive transactions, the total value reached €35.6 million, with Limassol leading with 37.1% of the total. Residential properties dominated the high-end market, with Limassol continuing to lead in high-value property sales.

Progress on stalled infrastructure projects , – minister

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Progress on stalled infrastructure projects , – minister

Within the next two weeks, answers will be given for several stalled infrastructure projects, including the impasse over Larnaca’s revamped port with concession holder Kition Ocean Holdings (KOC). The Ministry of Transport is considering the option of canceling the contract with KOC due to breach of contractual terms, which could result in the port reverting to management by the state’s Ports Authority. The ministry is also considering other investors who have shown interest in the project.

Government approves €15 million Pano Platres development

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Government approves €15 million Pano Platres development

A €15 million residential complex called the “Nightingale Residential Compound” in Pano Platres, Cyprus has been approved by the Environmental Authority after modifications were made to address initial concerns. The project, developed by Roomzly, will be located within the protected zones of the Kouris Dam Reservoir. The revised plans eliminate buildings on steep slopes and a private wastewater treatment plant, with construction confined to a designated residential zone and avoiding protected areas. The project must follow mitigation measures and was deemed compatible with surrounding developments.