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New multi-storey development in the coastal area of Limassol

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New multi-storey development in the coastal area of Limassol

By Socrates Joachim


A new multi-storey residential and commercial development in the coastal area of Limassol, with the name “The Gallery” is now under implementation, as the environmental authority gave the green light for its construction and operation.

This is essentially a project of the company “Askanis Group of Companies”, which will be located just 90 meters from the coast and will consist of a building with uneven distribution of three floors of 22.10 meters and 10 floors of 54.24 meters with 14 apartments. and 6 office spaces. It will also include a gym, 3 restaurant areas, 1 indoor and 2 outdoor pools and two underground parking spaces of 78 spaces, of which 4 spaces are for the disabled.

The area where the proposed project will be constructed is mainly characterized by the presence of residential and commercial developments, public and private parking spaces and public green space. The purpose of the project is to meet the needs of residential and commercial housing, but also to strengthen the area with new jobs.

Huge growth prospects for NIPD Genetics

The acquisition of NIPD Genetics Public Company Limited by Medicover Investment BV was officially completed in mid-January 2022. The acquisition opens huge global growth prospects to one of the most successful Cypriot start-up companies, which is active in the field of design, development , production and delivery of non-invasive genetic tests.

With the approval of the acquisition by the Competition Protection Commission (PSC) of the Republic of Cyprus, the European giant of healthcare and diagnostic services Medicover, strengthens its presence in the share capital of NIPD Genetics from 18.9% to 87.2% of the rights vote. The purchase price for 68.3% of the acquired shares amounts to € 44.4 million without borrowing, which indicates its business value at € 65 million. transaction value implies a high single digit EBITDA multiplier, excluding synergies. Revenues for 2020 amounted to € 16.2 million. However, one of the highlights of the deal is the fact that the headquarters of the company will continue to be Nicosia.

Most sought after brands in Limassol Den Mar

Seven years ago, today 33-year-old Loshak Ilya created his first boutique in Cyprus that hosted the names of international designers. Reaching 2020 and building a number of successful stores and a thriving online business, Loshak has selected Le Plaza Del Mar, the new shopping destination built by Cypeir Properties, as part of Limassol Del Mar's offshore development project to house its brand new and to date largest boutique with international names of famous designers. The brand new First Boutique hosts some of the most sought after brands of international designers such as Christian Dior, Celine, Balenciaga, Saint Laurent, Brunello Cucinelli, Berluti, The Row and Zimmermann and many more.

New DG at OHS

The senior financial officer of the Ministry of Finance, Dionysis Dionysios, is the new General Manager of the Housing Finance Agency (HSC). The appointment of Mr. Dionysios was approved on Wednesday by the Council of Ministers, however it is subject to the condition of the Central Bank. Mr. Dionysiou holds a degree in economics and a postgraduate diploma in business administration. He worked from 2005, until his appointment to the OHS in the administration of YPOIK.

The water entered the ditch for Tseriou

The widening and improvement of Tseriou Street, in Strovolos, according to the plan submitted by the Municipality of Strovolos, was approved by the Council of Ministers on Wednesday. The project will be implemented as urban planning, with the cost being allocated 80% to the state and 20% to the Municipality of Strovolos. Now, the Municipality will proceed immediately with the next steps for the implementation of the project, based on schedules, as well as with the announcement of offers, observing all the foreseen procedures, in cooperation with the competent government Departments. Tseriou will be a modern road that will give priority to people, providing a safe environment for pedestrians and highlighting the commercial and social sustainability of the area. Oopsometha my Mayor.

Thoughts on extending the sponsored vacation plan

The competent bodies are exerting pressure on the government to extend the subsidized vacation plan for vaccinated residents of Cyprus until the end of the year, considering that it will be a lifeline for several hoteliers this year. The Ministry of Tourism, according to the information, sees this suggestion with a positive lens, however final decisions have not been made yet. At the same time, however, competent bodies that spoke in the column expressed the view that this year will be much better compared to last year, estimating that tourist arrivals will rise to 80% in 2019, which corresponds to 3.2 millions of foreign travelers. In relation to trips of Cypriots abroad, they estimate that they will amount to 1.2 million compared to 1.5 million in 2019.

Israeli “mammoth” investment in Larnaca

By March 2022, the transfer of all private liquid fuels from the area of the Larnaca refineries will be completed, which will be transferred to the area of Vasilikos, the Mayor of the city Andreas Vyras told us. Mr. Vyras revealed that in addition to the Petrolina company to invest in the area, have in front of them the intention of a large Israeli company, which intends to invest tens of millions of euros for housing development in the area. The area has a radius of 3 km and allows the construction of high-rise buildings specifically up to 15 floors.

In the best tourist villages of the world, Agros?

The community of Agros has been selected from 170 communities from 75 countries to be included in the program of upgrading the network of the best tourist villages by the World Tourism Organization. The UNWTO Best Tourism Villages initiative was launched to promote the role of tourism in the preservation of rural villages, along with their landscapes, natural and cultural diversity and local values and activities, including local gastronomy. As it is emphasized in the announcement of the organization, Agros is in the places that have been selected to help in order to be included in the said list. A total of 44 villages from 32 countries from the five regions of the world received recognition in 2021. Among the villages that already adorn the list is Pano Lefkara.

Increases up to 96% in the port of Limassol

A letter to the Director General of the Ministry of Transport, Stavros Michael, was sent by the Secretary General of the CCCI, Marios Tsiakkis, referring to the forthcoming increases in tariffs imposed in the port of Limassol, which reach up to 96%. of CCCI, based on which “one of the management companies in the port of Limassol, DP World Limassol has informed its customers about increases that will be implemented from February 2022 on the various tariffs”. “In the case of DP World, these increases vary and will range from 4% to 96% on existing charges,” it said. The CCCI, however, in the view of the column, rightly considers that it is completely untimely to raise the issue of increases in the current period, at a time when we all recognize the situation in which trade and business has fallen from the beginning of the pandemic until today, with continuous increases in energy costs and beyond.

Source: www.philenews.com

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