The businessman behind the ambitious retirement project in Peristerona

08:59 - 18 May 2023

Companies

Komitis Eco Village, a huge investment project that is currently under public consultation, has been welcomed as a very positive development for the community of Peristerona but also the broader region, and the man behind it is the son of the founder of Komitis Chickens.

Demetris Efstathiou, the son of the late businessman Savvas Papaefstathiou, is the director of C.E.V. Cyprus Eco Village Ltd, which has submitted the environmental impact study for the project to the Department of Environment.

Komitis Eco Village is essentially a retirement village, complete with a geriatric care and rehabilitation centre as well as nursing school.

“This is something we are facing in a very positive light, as it will give impetus and contribute to the growth of our region,” the president of the Peristerona Community Council, Pantelis Kakkoulis, told InBusiness News. “These types of large projects, which are indeed by private initiative, are imperative in rejuvenating the countryside. If this project is implemented, the benefits for our region will be multiple and multidimensional,” he added.

The investment is estimated to cost €98,300,000 and the aim is to provide comprehensive geriatric care services to pensioners from Cyprus and abroad.

According to the plans, the entire construction will span 269,685 sq. m. and it will be a complete retirement village, built to meet the social, medical and psychological needs of pensioners. It will also include a state-of-the-art medical school. It is designed to accommodate and offer a comprehensive experience to its residents, students and staff, by creating a safe, friendly, self-contained and pleasant environment.

The businessman behind the ambitious retirement project in Peristerona

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