President Nikos Christodoulides has officially laid the foundation stone for the Adonis III development in Pano Polemidia, Limassol, marking the start of 29 new three‑bedroom, energy‑efficient homes under the Cyprus Land Development Corporation (CLDC).
Philenews reports that the President described the project as “a significant investment for a city facing acute housing pressure,” highlighting the government’s broader push to expand affordable housing across Cyprus.
A Major Acceleration in CLDC Output
According to the report, CLDC had delivered only 16 units in 2023-2024, but new financing tools and revenue sources have now unlocked large‑scale development capacity. Christodoulides noted that CLDC currently has:
- 244 units for sale at affordable prices
- 192 units for affordable rent
- All scheduled for delivery within 2026
Additionally, 135 new plots are being subdivided across Nicosia, Larnaca, Limassol, and Paphos.
Government Housing Programme Expands
Philenews highlights several key initiatives:
- Fast‑track licensing enabling approval of nearly 3,000 residential units
- A €75 million scheme to build 500 affordable homes for young couples
- Planning Incentives and Build‑to‑Rent schemes expected to deliver 2,500+ units over two years, including 400 affordable homes
- Nearly €200 million allocated to housing support measures benefiting 5,657 citizens
Christodoulides also emphasised that housing will remain a priority in the 2027 state budget.
Local Concerns Raised
During the ceremony, residents raised concerns about nearby electricity pylons. The President called their worries “entirely justified” and confirmed that a meeting with the EAC and the mayor has been arranged, stating: “We will do what needs to be done.”
Full Article
Read the full report on Philenews: https://en.philenews.com/insider/adonis-iii-foundation-stone-limassol-cldc-436-affordable-units-2026/
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