bbf: planning €189m mixed development at Limassol’s historic KEAN factory

A mixed-use development with office and commercial use is planned for the site dominated by the historic KEAN factory, with the project in question being subject to public consultation through the Environmental Department.

The Environmental Impact Assessment Study which has been submitted concerns the description and evaluation of the impacts that may be created by the land development and the General Spatial Plan for a unified mixed office and residential development.

The developer is KEAN Soft Drinks Ltd, 100% of the shares of which, as well as the huge plot of land with a total area of ​​40,000 sq m, passed into the hands of bbf: (build better future), within the first four months of 2023, following 74 years of successful operation.

It is recalled that bbf's plans: for expansion, improvements and investments with respect for the history of KEAN, a company embedded in the DNA of Cypriot consumers, were announced immediately after the announcement of the acquisition.

As stated to InBusinessNews in April 2023, the General Manager of bbf:, Lefteris Konstantinou, the combination of a historic property with a new investment that will respect the surrounding area falls within the company’s philosophy.

"We will consider the possibility of upgrading the entire area, preserving the historical character of the plot and respecting the surrounding area," Konstantinou had emphasised.

What will the big development include?

Based on the environmental study, the preliminary estimate of the construction cost of the project amounts to approximately €189,000,000.

As stated in the study, the proposed general spatial planning will include two main uses, residential and office. Specifically, it is proposed that four residential buildings and one office building are constructed.

Buildings 1 and 2, which are located in the southeast and southwest of the development area respectively, will consist of a ground floor and 19 residential floors with a total height of approximately 84-85 meters. In addition, the ground floor of the buildings will house commercial uses and recreational areas, while parking spaces will be organised in the basement and semi-basement levels.

At the same time, building 3 is located at the eastern point of the development area and consists of a ground floor and 17 levels of office use, with a total height of approximately 71.15 meters. The building's parking spaces will be organised on the ground floor, basement and semi-basement levels.

Buildings 4 and 5 are located in the northwestern and northeastern points of the development area, respectively. Building 4 will consist of a ground floor entrance area and 13 residential floors with a total height of approximately 58.25 meters, while similarly, building 5 will consist of a ground floor entrance area and 9 residential floors with a total height of 39.15 meters. The parking areas of the aforementioned buildings will be organised at the ground floor, basement and semi-basement levels.

The proposed project will also include common areas at the eastern point of the development site, between buildings 3 and 5, which will constitute a social centre for use by the residents of the development and will not exceed a height of 10 meters.

In three phases

According to the architects' calculations, the total proposed building area of ​​the project is 58,461 sq m (143%) and the coverage is 16,910 sq m (41%).

The project is planned to be implemented in three phases, with a total estimated construction duration of six years. Specifically, phase 1 is expected to begin in January 2026, with the construction of the residential uses (buildings 4 and 5) and to be completed in 2029.

Phase 2 will include the construction of the office building (building 3), the construction of which is expected to be completed in December 2029, while phase 3 will be completed in December 2031 with the construction of the remaining residential buildings (buildings 1 and 2).

Also read: L. Konstantinou: KEAN investment will fully respect its long history

(Source: InBusinessNews)