Newsroom
One of Cyprus’s most iconic factories is shutting down. After nearly 70 years in the heart of Limassol, the historic KEAN factory will officially wrap up operations at its current site by 2026, marking the end of an era for the local soft drink producer, according to Kathimerini's Dorita Yiannakou.
The move comes as KEAN’s new owners, BBF (Build Better Future), forge ahead with a €200 million urban redevelopment project that promises to reshape a major part of the city with luxury towers, office space, retail shops, and public parks.
But KEAN isn’t closing up shop entirely, just relocating. Production is already being gradually transferred to a newly renovated facility at the Couvas Carton Industries factory in the industrial area of Ypsonas. BBF says the transition will happen in phases to ensure operations continue without disruption.
A factory that helped shape a city
KEAN has been a household name in Cyprus since it opened its Limassol factory on July 1, 1956. Generations grew up on its lemonades and juices, and the factory’s presence became a symbol of local industry and resilience.
Now, BBF says it plans to honor that legacy through a major redevelopment that blends history with modern city living. Once production is fully moved out, the original factory will be demolished to make way for the new project: KEAN Towers.
What’s coming next
The massive redevelopment will unfold in two phases over a six-year period. Plans include:
- Two 20-story residential towers
- Class A office space
- A 3,000-square-meter private club
- Retail stores
- A large 6,500-square-meter public square
- Green parks and underground parking
BBF says the project aims to be a new urban landmark for Limassol, combining luxury living, sustainability, and walkable public spaces in a bid to improve the city’s overall quality of life.
“We deeply respect KEAN’s history,” said Alberto Hervello, Director of the KEAN Towers project. “Our goal is to preserve its values while building for the future, bringing its people and spirit into a new chapter of growth.” 
Strategic partnership and scrutiny
The KEAN acquisition was finalized in August 2024 as part of a joint venture between BBF and global investment firm Cyber States. The deal is currently under review by Cyprus’s Competition Protection Commission.
Meanwhile, renovations at the new Ypsonas factory are moving swiftly. BBF confirmed that the first phase, transferring KEAN’s dry storage facilities, has already begun. Production will continue as usual during the move, and the company says its new facilities will meet KEAN’s strict quality standards.
Not just a real estate project
While the headlines are filled with images of sleek towers and green plazas, BBF insists this isn’t just another real estate project.
“This is a long-term commitment to the city,” said Hervello. “We’re not just building homes; we’re creating a vibrant, connected neighborhood that respects Limassol’s past while embracing its future.”
As Limassol continues to grow and evolve, the KEAN factory’s transformation marks a pivotal moment, not just for the company, but for the city itself. What was once a center of production is about to become a hub of modern urban life.
