€22 Million Mixed-Use Tower Planned In Neapolis, Limassol

This new €22 million mixed-use tower is set to transform Limassol’s Neapolis area, marking a significant investment in the city’s emerging skyline. Developed by P.G. Economides Properties Ltd, the project has secured Environmental Authority approval and is poised to commence a 28‐month construction phase following permit issuance.

Project Overview

The development will be built on a 3,123 square metre plot along 28 October Avenue, one of Limassol’s main coastal roads. According to the environmental assessment study, the tower will reach a height of about 87 metres. The building will include a ground floor, mezzanine level, 18 upper floors, a roof garden, and two underground levels primarily used for parking and service areas. The project is designed to accommodate both office and commercial activities.

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Design And Layout

The two basement levels will cover approximately 4,780 square metres and will mainly serve as parking and support areas. The ground floor, with an area of about 651 square metres, will include a reception area, dining space, and additional parking facilities.

A mezzanine level will provide extra space for dining and terrace seating. The upper floors will be used primarily for office space, with a total office area of approximately 7,470 square metres. Certain levels will also include shared facilities as well as areas designated for events and reception functions.

The roof garden will include landscaped areas together with shared spaces and technical infrastructure.

Strategic Location And Connectivity

The tower will be located in a mixed-use urban zone that already includes residential buildings, offices, and tourism-related businesses along Limassol’s seafront.

Access to the site will be provided through Dandi Street to the east and Raphael Street to the north. The location also offers proximity to Griva Digeni Avenue and nearby commercial landmarks, including the Oval building. The Vathia Potamos area is located approximately 77 metres to the east of the site.

Parking And Accessibility

In addition to the extensive parking accommodations offering 146 parking spaces (including provisions for persons with disabilities), the project also supports alternative transportation needs, featuring dedicated spaces for 20 bicycles and 15 mopeds. Such forward-thinking planning reinforces the development’s commitment to accessibility and urban mobility.

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Cyprus Strengthens Its Case As A European Chess Hub After FIDE President’s Visit

by THEFUTURE.TEAM

October 20, 2026

Cyprus is sharpening its position on the European chess map, with the island’s rising profile now drawing attention at the highest levels of the sport.

Fide Leadership Backs Cyprus’ Chess Ambitions

International Chess Federation (FIDE) president Timur Turlov, who also leads Freedom Holding Corp and Freedom24, met President Nikos Christodoulides at the Presidential Palace in Nicosia on Monday to discuss the future of chess development in Cyprus. The talks centered on the island’s growing importance in European chess and the momentum built since Freedom became general partner of the Cyprus Chess Federation in 2023.

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“In three years, Cyprus has become one of Europe’s chess hubs, and we want to keep building on that,” Turlov said. “It was important for us to present our plans for chess on the island to the President, and we are grateful for his time and attention to the game.”

A Broader Strategy For Growth

Turlov was elected FIDE president on September 26 at the federation’s congress in Samarkand. His 2027–2030 programme calls for roughly €30 million in funding over four years to support global chess development, including an annual development fund of €6.2 million, nearly four times the current budget.

The proposed funding is designed to expand competition opportunities, strengthen youth development, improve chess education, support coaches and arbiters, accelerate digital tools, and promote women’s chess.

Cyprus Has Become A Proven Host For Major Events

Since Freedom became the federation’s general partner in 2023, Cyprus has hosted 26 tournaments, including stages of the FIDE Women’s World Grand Prix in Nicosia in 2023 and 2025. The island also welcomed the 2026 Candidates Tournament, which featured a €1 million prize fund and brought top international players to Cap St Georges Hotel and Resort.

For Cyprus, that event carried symbolic weight. It was the first time in the country’s chess history that the world’s leading contenders had competed on the island, underscoring its emergence as a credible destination for elite international chess.

Building A Pipeline For The Next Generation

The local ecosystem is also expanding at the grassroots level. The Freedom24 Chess Academy opened in Limassol on March 1, 2025, under the leadership of International Master Artem Sadovsky. Its mission is to develop competitive players capable of representing Cyprus on the international stage.

According to the Cyprus Chess Federation, around 2,000 people in Cyprus now play chess actively, most of them children. That matters: a sustainable chess economy, like any successful sports ecosystem, depends not only on marquee tournaments but also on a steady pipeline of young talent, coaching infrastructure and institutional support.

As Cyprus continues to invest in the game, it is increasingly positioning itself not just as a host nation, but as a serious contributor to the future of European chess.

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