Far from winding down, Limassol's major developments and towers show no sign of finishing, with even more new projects set to move into the construction phase, pointing to a market that has yet to reach saturation. What's notable about this new reality taking shape across various parts of the city is that, without "golden passports" acting as an incentive for this kind of investment, several developers are nonetheless incorporating large office spaces, something Limassol badly needs.
The most significant developments at present are concentrated along the seafront, around Neapoli, on the administrative boundary between the Limassol and Amathounta municipalities. Four major projects are at roughly the same stage of implementation: Aura, which aims to become Cyprus's tallest building; SeaMark, where construction work has already begun; Totalserve; and C View, which is at the final stage before its foundation stone is laid. These projects are expected to be completed by the end of 2028. At the same time, a project that had a troubled history and went through several changes is now moving toward implementation, with the former "Neo" reintroduced as "St Regis Residences," now reduced to three towers, one of which will house office space. This project sits further west than the others, next to Limassol's Public Garden.
Looking ahead at major developments, one cannot leave out Aktaia Road, where several projects are being prepared, with more in the pipeline. The bbf project at the former KEAN site is of particular interest, given its unusual features.
A new giant on the seafront
The largest of the new projects in the pipeline is Aura, which, after several years in the making, appears to be moving toward implementation. It will be built on the site of the former ERA Olympia department store, with Property Gallery, which is handling the development, moving ahead with preparatory work to begin construction within 2027. Preparations to demolish the ERA building are already under way. It is being presented as the tallest building to be built in Cyprus and the wider Mediterranean region. Details have not yet been announced, though the planning permit sought in previous years provided for a 44-storey tower, 181.5 metres tall, with 136 luxury apartments and five underground levels. Aura would surpass ONE, which, at 170 metres, is currently Cyprus's tallest building. That said, initial images suggest changes to the new project compared with the earlier design, with the new concept combining luxury residences with wellness services and facilities.
The development's underground spaces are a special case. Under a Council of Ministers decision, rights were granted to use underground space beneath Andrea Zaimi Street, allowing the development's underground sections, separated by the public road, to be joined together. The arrangement came with €214,000 in compensation and the creation of public and private parking spaces beneath the road.
21 storeys
Among Limassol's new high-rises, SeaMark is one of the most advanced. It is a new commercial and office tower by CoolSide Development, which has now moved into the construction phase. It will rise 21 storeys. The development's total area comes to 20,806 square metres, with most of it made up of modern office space that can be configured differently depending on the needs of the companies that will occupy the tower. The design includes shared facilities and services, including a café, meeting and event spaces, a gym and spa, lounge areas and a roof garden. According to the schedule, the tower is set to be completed in the fourth quarter of 2028.
18 floors on the former Pavemar site
A project with a history stretching back more than a decade is returning in a new form. This is the multi-storey development by P.G. Economides Properties, on the site of the former Pavemar hotel, on the seafront axis and a short distance from Oval. It has secured the green light from the Environmental Authority and represents a €22 million investment. The building will reach 87 metres in height and will consist of 18 floors, a roof garden and two underground levels. The development will be mainly office and commercial in character. Construction is expected to take 28 months, once the required permits are secured.
The project's location is significant, with Oval around 120 metres to the west and the Vathia River less than 77 metres to the east. Together with Aura and C View, it will create a new cluster of high-rise buildings in a relatively small section of Limassol's eastern seafront.
Permits already in hand
Also at an advanced stage is C View Tower, a purely commercial tower being developed opposite the Crowne Plaza hotel, in front of Oval. All the necessary permits appear to have been issued. Online listings advertise the sale of the entire project for €55 million, with individual floors priced from €5 million to €12 million. The tower will have 15 floors, of which 10 will be office space, spanning the sixth to the fifteenth floors, with unobstructed sea views. The Elhadi Group is behind the development.
Next to the Public Garden
One of the biggest developments expected to change the face of Limassol's central seafront is "The Residences at The St. Regis Limassol," being developed by the Marfields Group on the plot next to the Public Garden. The site was previously earmarked for Pafilia's "Neo," which was never built in its original form. The new development was announced in June 2026, following an agreement between Marfields Group and Marriott International. The new masterplan includes two residential towers with 250 homes and an office tower, forming a complex of three high-rise buildings. Dining, retail, wellness and leisure facilities will also be developed. The project is set to begin within 2026 and be completed by 2031. Its exact scale has not yet been made public, although reports point to towers of 25, 21 and 17 storeys.
Aktaia Road and KEAN
These five projects are not the only major developments currently under way or in the pipeline in Limassol. Other large developments are at various stages of design, licensing and construction, most notably bbf's redevelopment of the former KEAN factory, involving a complex of high-rise residential and commercial buildings.
Aktaia Road forms a category of its own, where the Leptos Group's "Limassol Blu Marine" (three towers) is under way, with the first tower nearing completion and work continuing on the following ones. Also being developed in the same area is "Lighthouse," a 19-storey, 81-metre office tower at the junction of Aktaia Road and Alexandrias.
The premium property market
Speaking to Politis on behalf of Ask Wire, Panos Hadjichristofis outlined the state of this segment of the property market in Cyprus, and Limassol in particular. Ask Wire is a platform that turns real estate data from Cyprus and Greece into market intelligence.
According to him, Limassol's residential tower market continues to represent a significant share of activity at the top end of the property market. Total sales of properties above €1 million stood at around €275 million in 2024, rising to €417 million in 2025, while transactions worth around €220 million have been recorded so far in 2026. Within that category, sales in recognised high-rise developments came to around €183 million in 2024, €269 million in 2025 and €85 million so far in 2026. This means high-rise projects accounted for roughly two-thirds of the value of sales above €1 million in both 2024 and 2025, underlining their importance to Limassol's luxury residential market.
The largest transaction recorded during the period came to around €45 million and involved multiple residential units, while a transaction of €18 million was recorded for a residence spanning the 33rd and 34th floors. At the highest level recorded in the data, units on the 34th and 35th floors sold together for around €16 million. These transactions show that Limassol's towers are not simply adding new residential stock to the city, but have created a distinct premium market, capable of attracting significant capital into individual properties and homes on the upper floors.
According to Hadjichristofis, the experience of the golden passport scheme and its abrupt end has led several developers to prefer buildings with multiple uses, reducing the risk of relying on a single type of residential development. Combined with Limassol's shortage of office space, this is why major investments increasingly include both a residential and an office component, the latter capable of generating steady income for a development.
The most important conclusion to draw is that Limassol has, in recent years, built an economy that attracts people looking to invest in property, even as their permanent home, because they live and work in Limassol with a long-term plan. The presence of technology firms and other sectors, alongside supporting infrastructure such as private schools, creates the sense of security and comfort that Limassol is a choice not just for a few years, but for long-term residence.
