President Nikos Christodoulides has laid the foundation stone for the first affordable housing complex as part of cooperation between the Municipality of Limassol and the Cyprus Land Development Corporation (CLDC-KOAG), noting the importance the Government attaches to addressing the housing problem challenge.
The project concerns the construction of four six-story buildings, with a total of 138 one-, two-, three- and four-bedroom apartments, on land with an estimated value of €8.7 million granted by the Limassol Municipality.
According to President Christodoulides, the total cost is estimated at €26 million, 62% of which comes from state funding and the remaining 38% from the Cyprus Land Development Corporation.
Speaking on 12 January, he said that the project was a good example of how society can benefit through cooperation between the State, the Local Authorities and the semi-government sector.
The foundation stone was laid by the President of the Republic, the Minister of Interior, Constantinos Ioannou, the KOAG President, Elena Koushou Hadjidemetriou, the Mayor of Limassol, Yiannis Armeftis and former Mayor Nicos Nicolaides, since the preparatory work began during his term.
President Christodoulides expressed hope that this project would contribute to the commercial and economic upgrading of the surrounding area and, at the same time, maintain social balance.
He added that KOAG would also undertake “the new, ambitious Housing Scheme” recently announced by the government for the construction of approximately 500 housing units, a more than €70 million project, in Nicosia, Limassol, Larnaca and Paphos.
Housing is a European issue, he added, noting that the government’s housing policy was “in full alignment” with the new European strategy, on affordable housing.
(Source: CNA)
