A large-scale, premium development featuring high-quality residential and commercial spaces is being planned by bbf: on the site of the historic KEAN factory in Limassol.
Speaking to InBusinessNews, Alberto Hervello Ibanez, KEAN Project Director at bbf:, explained that this ambitious project is currently in the pre-construction stage. The development is divided into three main components:
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The exhibition centre,
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The relocation of the KEAN factory, and
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The residential development.
Discussing the construction timelines and layout of the mixed-use project, he noted that small-scale preliminary works, focusing on the renovation of the former Kouva factory, are in the final planning stages. The official start of construction is expected to take place around mid-2026, with the initial phase likely to be completed by the end of 2026.
The entire large-scale development is anticipated to be completed by 2032, provided that everything proceeds according to schedule.
On the site of the historic KEAN factory - a landmark company deeply embedded in the DNA of Cypriot consumers - a premium seaside destination will be created. How is bbf:’s ambitious project unfolding, and what stage has it currently reached?
Alberto Hervello Ibanez: We’re currently in the pre-construction stage. The project is divided into three main parts.
First, we have the exposition center, which is already under construction. It’s designed to give clients a real sense of what we’re building before we start demolition.
Then, there’s the KEAN factory relocation, which is a very critical step. As you may be aware, the KEAN factory is going to relocate to the Couvas plot, located in the Ypsonas Industrial Area. We are currently in the design stage of this step.
Finally, we have the tower development. The design and permitting are largely under way. We’re just making some adjustments to parking, landscaping, and amenities to align with the vision of our senior management and our joint venture partner, Cyber Fund.
So, in summary:
_the exposition center is under construction which is a very small/short project
_the factory relocation is progressing toward the tender process
_and, we are making all the final adjustments to our overall project. The design of the four towers is consolidated but we are making some final refinements.
What components will the mixed-use development comprise, when is construction expected to commence, and what are the projected milestones and implementation timeline?
The development will have two main components: a residential and a commercial, each with its own plaza, accessible to the public.
For the residential component, we’re talking about luxury living—five-star quality. Residents will have access to a spa, a small gym, pools, curated food and beverage options, and exclusive, very selective retail.
The commercial side will cater to businesses, with offices, a larger gym, a playground, co-working spaces, business center areas, cafeterias, and retail and dining options tailored to office users.
Timeline-wise, preliminary small-scale works focusing on refurbishment at Couvas have already begun. Formal construction is scheduled to start 1 April 2026, with completion by the end of 2026. This will allow the relocation of KEAN operations before demolition at the main site.
We’re planning demolition at the KEAN plot in Q1 2027, which will take 4–6 months, including careful dismantling and machinery transfer. Phase 1 (the north plot) is straightforward and can proceed as soon as everything is ready at the relocation site. Phase 2 (south plot) is more complex because it involves moving production machinery.
Overall, we aim to complete the entire project by 2032, assuming everything starts on schedule.
Could you elaborate on the scale of the investment, the key objectives driving it, and the primary audience or market segment you aim to attract?
This is a major premium development. Our main goal is to create high-quality residential and commercial spaces
For the residential market, we’re targeting locals and international buyers—Europeans, Israelis, Russians, and Americans—looking for second homes or permanent residences in Limassol. The commercial component focuses on businesses seeking flexible, high-quality offices with premium amenities.
We want to emphasize quality of life, luxury, and flexibility. Residents will enjoy direct beach access, pools, and curated retail and dining experiences, everything you would expect from a top-tier seaside development.
What is the connection of the new project to the KEAN factory?
Both the original KEAN factory and the new development are strategically linked assets for bbf:. KEAN has deep roots in Cyprus, and bbf: wants to honor that heritage. Our goal is to enhance KEAN’s production and reputation while integrating its legacy into the new development, ensuring continuity, growth, and positive community impact.
