Limassol Municipality will announce a new affordable housing policy in the coastal district before the end of September in cooperation with the Cyprus Land Development Corporation (CLDC).
Philenews reports that this concerns the first phase of the project in the Ayios Nikolaos area owned by the Limassol Municipality.
It is a complex of four apartment buildings with 138 units and a written consent has been obtained from the Department of Town Planning and Zoning.
The first building with 36 apartments will be ready in the first quarter of 2026 to basically accommodate vulnerable families.
The Cyprus Land Development Corporation was founded by the Government in 1980 within the government’s social policy for the housing sector.
The Municipality has already made arrangements for the relocation of nine families living in shacks on the site where the first block of flats will be built.
Families to be relocated to buildings where apartments will be owned by the CLDC are beneficiaries for rent at an affordable price.