€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’ Poverty And Social Exclusion Risk Stands At 17.1%

by THEFUTURE.TEAM

October 20, 2026

Cyprus recorded a poverty or social exclusion risk rate of 17.1% in 2025, below the European Union average of 20.9%, according to new Eurostat figures. Across the bloc, however, more than 92 million people continued to face the risk, highlighting persistent social and economic inequalities.

More Than 92 Million People At Risk Across The EU

A total of 92.7 million people across the EU were at risk of poverty or social exclusion in 2025, equivalent to just over one in five residents.

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Cyprus is treated as a single statistical region because of its size, unlike many member states divided into multiple regions for comparison. Its national figure therefore provides an overall picture but does not capture differences between districts or communities.

Regional Gaps Remain Stark Across Europe

The risk varied considerably across the EU, with the highest rates concentrated largely in southern, eastern and outermost regions. In 24 of the 243 regions with available data, at least 31.5% of the population faced poverty or social exclusion.

These regions were located in Spain, Bulgaria, Greece, Italy, France and Romania, as well as Brussels in Belgium and Bremen in north-western Germany.

French Guiana recorded the highest rate, at 54.8%, followed by Calabria in southern Italy at 45.3% and Sicily at 44%. Melilla, a Spanish autonomous city, recorded 43.7%, while Réunion, another French outermost region, stood at 42.3%.

Central Europe Records The Lowest Rates

At the other end of the scale, 24 regions reported poverty or social exclusion risk rates below 13% in 2025. These included five eastern EU capital regions: Bratislava in Slovakia, Warsaw in Poland, Prague in the Czech Republic, Budapest in Hungary and Zagreb in Croatia.

Other regions with low rates were concentrated in northern Italy, the Czech Republic, northern Belgium, Hungary, Poland and Austria, illustrating the uneven distribution of economic security across Europe.

Cyprus Remains Below The EU Average

Cyprus’ rate of 17.1% places it below the EU average, although it remains higher than the levels recorded in the bloc’s lowest-risk regions.

The figures suggest that Cyprus performs relatively well compared with the wider EU, but poverty and social exclusion remain significant challenges across the bloc, affecting more than 92 million people.

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