First of all there are important developments in the hotel industry of the city, since within the next two years the reopening of Le Meridien under the name Parklane Resort will take place, boasting more than 222 luxury rooms and 53 suites. In addition there will be the construction of the Halcyon, a new luxury hotel by Stademos Hotels, which is estimated to operate in 2018 with about 160 rooms.
The boutique hotel trend
Meanwhile, during the same time period the Limassol city centre will host two new boutique hotels, for which the relevant procedures are in the works.
One of the hotels, for which developments are ongoing, will face the centrally located, picturesque Ayiou Andreou Street.
The Limassol Municipality is pleased with the development of such hotels in the city centre, since experience has shown that they manage to bring in guests throughout the year.
“There is increased interest for other urban hotels, which will receive our support,” said Limassol mayor Andreas Christou.
The city of Limassol used to have more than 15 urban hotels, few of which managed to survive, but there is a trend to bring them back and revamp them.
Casino fever
The casino-resort that has just been green-lighted for construction in Limassol is, according to estimates, the largest investment of the past few years in Cyprus, expected to exceed €500 million and offering 4,000 new jobs during construction and development, and 2,500 more for its operation.
The Melco-Hard Rock Resorts Cyprus consortium fulfilled all the competition requirements for the construction of the first casino-resort of this size in Europe, which will include two large conference halls, able to host 5,000 attendees.
Until the casino’s construction is complete, a temporary casino will be hosted at Monte Caputo, an entertainment venue in the east side of the city, starting in autumn 2017.
Along with the casino-resort, a large golf course in the nearby Fasouri area is planned, valued at €350 million. LCCI president Costas Galatariotis called it a project of “high aesthetics”, which will stretch over 1,400 acres, and will include housing and tourist development with an emphasis on green and ecology.
Del Mar and ONE
There are also large developments planned in Limassol after 2018. During the summer of 2019 the first phase of the ambitious Limassol Del Mar is expected to be completed, with the total value of the project estimated at €350 million, and at least 40% of apartments in the development already sold.
The project is a result of a Leptos – D. Zavos consortium, and spans over 170 metres of a beachside view in the heart of the Limassol beach avenue, on a 34,000 square metre plot. It will feature 168 luxurious and spacious apartments of two to four bedrooms, offer five-star hotel services, a gym and a club house. It will also boast a spa, sauna, internal and external pool, and provide management, rental, and security services.
Limassol will also gain one of the largest and luxurious projects in Europe, also being the tallest residential beachfront building in the Mediterranean, standing at 170 metres and 37 storeys tall.
Titled ONE, the construction of the ambitious residential building has been taken up by Pafilia Company, at a cost of €60 million. The ground floor will feature retail stores and a restaurant, along with a stunning lobby. It will consist of 84 luxury apartments, including two-storey apartments, and a three-storey penthouse with a private pool.
Source: InCyprus
