A study for a new building of 75 meters and 15 floors in Limassol was submitted by the company LAKEMIA real estate in the environment department. The proposed project concerns the construction and operation of commercial development of 15 floors with the main use of renting and / or selling offices on Alasias and Dimitris Glinou streets in the Municipality of Limassol.
The project will have 11 independent offices with the possibility of employing human resources that do not exceed four hundred (400) people. The proposed project falls into category 30 (b): Tall buildings with a number of floors in excess of two of the upper limit set by the Local Plan and / or the Policy Statement of Annex I of the Environmental Impact Assessment of Certain Projects Law of 2018 (Law 127 (I) / 2018).
Objectives and expediency of implementation of the proposed project
The need to implement the proposed project arises from the ever-increasing market demand for new workplaces, offices and commercial activities. The development area of the proposed project is an ideal location for the proposed project as it is located in a central area of Limassol, where in recent years there is increased commercial activity and therefore the need for new commercial development.
The objectives and feasibility of the implementation of the proposed project can be summarized as follows:
• Increasing the turnover and financial profit of the owner company Quality and efficient exploitation of the company's assets Increasing the capacity of quality workplaces in the center of Limassol Attracting foreign investment Operation of a building with independent office space, which operates with high quality standards.
The specific office development aims to strengthen the local economy and revitalize the region, by attracting corporate organizations and international investors. As can be seen, there is a general tendency for height growth in adjacent plots, in buildings hosting similar uses. Such a project aims to improve the vitality and aesthetic image of the area by gradually transforming it into a business center with modern, high quality and aesthetic business spaces.
The most important benefits that will result from the implementation of the project are expected to be the following:
-Strengthening the identity of the region as a gathering place for commercial activities, acting as a pole and catalyst that will facilitate the creation of community consciousness while creating economic scale development;
-Strengthening the role of the Urban Center as a pre-eminent center of important commercial and office activities;
-Creation of new jobs, especially during the construction phase;
-Strengthening commercial and other economic activities located in the wider area, especially during the operation phase of the project;
-Construction of a building with high energy efficiency and low carbon footprint, contributing to the strategy and goals of the Republic of Cyprus for climate change, sustainable development and the circular economy.