Philenews

KOAG Launches First Affordable Housing Project in Limassol

Published January 13, 2026, 10:20
KOAG Launches First Affordable Housing Project in Limassol

The Cyprus Land Development Organization (KOAG) has officially begun the implementation of its first affordable housing rental project in Limassol, located in the Parish of Agios Nikolaos. The project, with a total investment exceeding €26 million and state funding of €16 million, involves the construction of four six-story buildings with a total of 138 apartments of various types (one, two, three, and four bedrooms). The apartments will be exclusively available for rent to eligible affordable housing applicants, at rents lower than current market prices in Limassol, an area experiencing significant housing pressure. The project's design is based on the principles of sustainable and viable development, incorporating modern architectural and technical specifications, respect for the urban environment, and the goal of creating an organized and functional residential unit. The project is the result of a tripartite collaboration between the Government, Local Authorities (Limassol Municipality), and KOAG, with the Organization acting as the executive arm of the state's housing policy. During the foundation laying ceremony, the President of the Republic, Nikos Christodoulides, emphasized that addressing the housing problem is a central government priority. The President of the KOAG Board of Directors, Elena Kousiou Chatzidimitriou, highlighted the years of planning and the continuous cooperation of all involved parties. This project marks a significant effort to provide quality and affordable housing to households struggling to meet market prices, with a focus on the younger generation and middle incomes. It is expected to have a positive social impact and contribute to strengthening social cohesion in the city of Limassol.

Share:
Read Full Article on Philenews

You Might Also Like

Back to News