bbf – one of the largest Cypriot land and property development companies – has announced its first major development in Larnaca district, specifically in Oroklini.
The company’s plans include a development that will exceed €50 million in that rapidly growing tourist area.
It will build 89 villas, amidst large green spaces, on an area of 57,000 sqm and the design also includes the creation of roads, pedestrian walkways and playgrounds.
The villas will be constructed behind Nero Café which has already been zoned externally.
bbf Cyprus on Wednesday presented the project at an event held in the Oroklini, announcing that it has recently filed an application to obtain planning permission for the large project.
If the other required permits are issued in time, construction work is expected to begin in 2024.
It should be noted that bbf is behind very large investments, mainly in Limassol, and has also bought the historic Berengaria Hotel, the renovation of which will be completed in 2026.
Owned by a Russian with Cypriot nationality who permanently resides in Limassol the company has recently bought KEAN and announced an expansion of its activities in Greece.
Mayor of Oroklini, Neophytos Fakontis told Philenews the company is planning more developments in the area.
And that the €50 million investment is in addition to a number of others that are either underway or planned in the area, which also benefits from the relocation of oil companies.