The Cyprus Land Development Organisation (KOAG) has signed contracts for the construction of a new residential project in Lakatamia, marking the official launch of another initiative aimed at expanding affordable housing.
The agreement was signed by the organisation’s leadership and the contractor, B.K.V Exelixis General Constructions Ltd, paving the way for the development known as “Alexandra”.
According to KOAG, the project will consist of a three-storey apartment building on Akropoleos Street, featuring 18 two-bedroom units designed to meet growing demand for quality yet accessible housing.
Design, infrastructure and energy performance
The development has been designed with a focus on functionality and quality of living. Apartments will feature spacious, light-filled interiors with strong natural ventilation, along with large verandas aimed at improving comfort for residents. Its proximity to a public green area further enhances the living environment, offering added value through access to open space.
The building will include a fully organised ground level with covered parking and storage areas, while also incorporating infrastructure to ensure accessibility for people with disabilities. Construction specifications are aligned with modern standards of safety and residential quality.
Energy efficiency is a central element of the project. The building will achieve energy class A status, supported by a photovoltaic system. Thermal aluminium frames and an external insulation system are expected to reduce energy consumption, while features such as a video entry system and covered parking contribute to overall comfort and security.
Part of wider housing strategy
KOAG said the “Alexandra” project forms part of its broader strategy to increase the availability of affordable housing, offering modern living options at reasonable cost, particularly for young families and first-time buyers.
Apartment prices are expected to be announced in May, after which applications from interested buyers will open.
The organisation added that the project reflects its ongoing commitment to delivering sustainable, high-quality residential developments that address Cyprus’ housing challenges.
Source: CNA