The project which costs €150 million is being built on the site of the old Lanitis mansion.

The highest of the Lanitis towers is going to have 37 floors. In addition to luxury residences shops, offices, a spa, a gym and three swimming pools are planned, as well as green areas and 1,500 parking spaces of which 900 will be open to the public.

The project was announced by Cybarco, a member of the Lanitis group.

Apart from the Oval, with 246 metres one of the tallest buildings in Cyprus, the Limassol coast has recently acquired the 20-floor Olympic residence consisting of two residential tours and Pafilia’s 37-floor luxury residential tower ‘One’.

CEO of Cybarco Michalis Hadjipanayiotou said the focus of the company is to have unique and exclusive developments in their portfolio.

He and the other developers of the high-rise luxury buildings stress the views are breath-taking, and the buildings appear to be popular with 93% of the Oval residences reportedly sold.

However, town planners and residents are concerned about the wider implications of the changes.

“It means they have a wonderful view, but what happens to the people behind who suddenly see only a big building in front of them? This is a big social change,” Iannis Kakoullis from the technical chamber (ETEK) said.

A problem which has to be looked into as well is the infrastructure. “Do we have adequate suitable roads and public transport? Are we going to upgrade them? What are the consequences when we already have a problem with traffic?” Kakoullis asked.

Source: Cyprus Mail