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In a significant development within the Famagusta province, specifically in the municipality of Paralimni, a noteworthy €9.5 million investment project is currently underway in the tourism sector. Araltica Properties Ltd., based in Nicosia, is spearheading this venture, marked by the construction of eleven tourist villas, each approximately 150 square meters in size.
This ambitious project has garnered the approval of the Environmental Authority, having previously received favorable assessments from several competent authorities, including the Game Service and Fisheries Department.
The development not only encompasses the construction of these villas but also includes the creation of a private road and a public green space. Importantly, part of the plot falls within the beach protection zone, and this factor has been thoughtfully integrated into the project's design, allowing for the establishment of a green area and parking facilities within this specific zone.
The villas themselves will consist of two bedrooms and are poised to accommodate approximately 44 people year-round. Additionally, these buildings have been meticulously designed to meet energy class A standards, in compliance with legislative requirements. They will also incorporate renewable energy technologies, such as hot water production from solar panels and electricity generation from photovoltaic panels.
As outlined in the project information report submitted to the Department of Environment, this undertaking is expected to contribute significantly to the development and enhancement of the surrounding area's overall quality. Access to the project site is facilitated via the primary road network, specifically Protaras Avenue and Cavo Greco, followed by Tasou Isaac Street. The project area is adjacent to an existing asphalt road, which will serve as access to the villas upon the project's completion.
The commencement of the project is contingent upon securing the necessary permits, with a projected completion timeline of two years, slated to commence in 2024 and conclude in 2026.
The project's southwestern boundary abuts a hotel complex, while its northwestern boundary is connected to the local road network. To the north and northeast, the development site is flanked by the beaches 'Lopardi Islands' and 'Green Bay,' respectively. The broader vicinity comprises a range of amenities, including beachfront hotels, tourist accommodations, restaurants, residential and commercial developments, and services.
The villas have been thoughtfully designed, featuring basements with an elevation of -3.40 meters above ground level. Notably, five of the villas will include a four-level elevator, spanning from the basement level to the terrace level. Each villa will boast gardens, swimming pools, and unobstructed sea views.
The overall development plan encompasses a private road, pedestrian walkway, and public green space. A portion of the private road, measuring 1910 square meters, will be located underground, leading to the parking areas for eight residences. At ground level, designated parking spaces for the remaining three dwellings, as well as visitor and disabled parking spaces, have been allocated.
The project site spans a total surface area of 9,600 square meters, with 829 square meters earmarked for the construction of the internal road network. Additionally, 15% of the 'net' area will be designated as public green space, as mandated by regulations. The area covered by the development itself totals 1243 square meters, accounting for 17% of the 'net' area.
Importantly, it should be noted that the beach protection line intersects the development plot. This aspect has been thoughtfully considered in the project's design, with no buildings situated within the beach protection zone. Instead, the focus has been directed toward the development of parking facilities, gardens, and green areas in this designated zone.
