February marked the beginning of a new era in Limassol, as construction began on the new high-rise development, The Icon, by Limassol’s famous property developer Imperio. The Icon is set to be one of the tallest residential buildings in Cyprus, boasting panoramic views of the city and coastline of Limassol. The project was designed by the established architectural firm UDS Antoniades + Eleftheriou architects.
To make way for The Icon, which is set in the heart of Limassol, in the Germasoyia area, a former historic nightclub, The Triangle Bar, was demolished this month. Once completed, the new tower is expected to house 54 idyllic residences across 21 floors, complete with luxury amenities and around-the-clock services. The residences will range from one-bedroom apartments to penthouses and full-floor homes, delivered fully finished with inspired interiors and outdoor living spaces designed by Imperio’s award-winning team.
Limassol, the cosmopolitan city on the southern coast of Cyprus, is seeing a surge in high-rise developments to satisfy an ever increasing demand for high-end homes. On a national scale, real estate sales this year have recorded an increase in the region of 25% compared to sales figures for 2016. Yiannis Misirlis, founder and director at Imperio and vice-chairman of Cyprus’s National Developers’ Association stated: “Cyprus is seeing an increasing interest from investors who are keen to invest in property as a means of securing their family’s future. Given that global interest rates are at an all-time low and a degree of geopolitical uncertainty is widespread, Cyprus is proving to be a safe haven for the world’s sophisticated real estate investors. We expect this demand to continue to rise for the next five to six years.”
