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Oct 26, 2021

REGIONAL FINANCIAL, TECH AND INNOVATION HUB IN THE MAKING AS LIMASSOL HEADS WEST

AKTAIA ODOS: THE GRAND REGENERATION PLAN

According to the Limassol Chamber of Commerce, the revision of the Limassol Centre Area Plan has been completed by the Urban Planning Council, and has been put forward before the Interior Ministry. The creation of a wide waterfront along the coast,  and the delineation of zones for the creation of office, residential and hotel units, in balance with the other uses. Limassol mayor, Nicos Nicolaides expressed confidence that the area will become “the financial tech and innovation hub of the city.”

“Aktaia Odos” is envisaged as a light-traffic, two-lane road exclusive for public transport with pedestrian sidewalks and cycling paths along the seafront promenade spanning between Limassol Marina and Dubai World Cruise Terminal. The area has rekindled investors’ interest for a development comparable to that of Canary Wharf in London and Barcelona’s business district. The Cyprus government and the EU will fund the upgrading of the infrastructure, and provide incentives for the relocation of industrial businesses. Additionally, the creation of a suitable waterfront destination, with public spaces that include museums, cultural and recreational facilities, will transform the area into a vibrant leisure hub. 

Ruling DISY party leader, Averof Neophytou, shared the same views with the mayor expressing his satisfaction with the final stages of the master plan showing the conceptual layout that will guide future growth and development of the area. “I am confident that, upon completion, “Aktaia Odos” will become one of the finest areas in Limassol,” he said. “The area will be complemented by large-scale, sustainable, energy-efficient developments that will surpass European standards, at the same time respecting the environment, harmoniously inserted in the place in which they are created.”

Located in Limassol’s city centre, this once uninhabited area is now attracting the elite as it evolves into a new high-class, swanky neighbourhood. The area is undergoing rapid redevelopment of newly introduced luxury living high-rise residences, hotels and office buildings, and with the introduction of Limassol Blu Marine, the exclusive residences are just a small part of the billions that will be invested within this up-and-coming affluent area. In a country where tourism is one of the main industries, this will be a significant achievement in itself.

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