Insider Business Limassol: Russian buyers for old Sodap winery

Limassol: Russian buyers for old Sodap winery

Russian investors have submitted a successful bid to buy the old Sodap factory in Limassol for €32m — satisfying the minimum price of €30m set by current owners Altamira, the Limassol Chamber of Commerce said on its website.

The investors plan a huge development with multiple storey buildings and other high specification facilities, it added.

The 38,827 square metre property is situated on the coastal front between Limassol port and Limassol marina in what the Chamber described as the town’s ‘golden mile’.

On it there are listed buildings of a total area of 7,500 square metres.

It is an emblematic industrial complex which served as the headquarters of Sodap from 1947 and is considered one of the most important examples of Limassol’s industrial heritage, it added.

The deal follows the sale of LOEL’s factory by the Bank of Cyprus to Chinese investors for €33m who plan to build three 35 storey towers.

According to the Limassol Chamber next in line is KEO which must first transfer its production facilities to the new brewery that is being prepared south of the industrial area. The Chamber said that part of the historical complex will be preserved but the newer constructions will be cleared to make room for multi-storey buildings with apartments, offices and shops.

The first large-scale development in the area is underway by the Leptos Group who are building the Blu Marine — four buildings with offices and residences, it concluded.

 

Top Stories

Cyprus’ new covid preventive measures to be announced midday Friday

President Nicos Anastasiades on Friday morning chairs a new meeting with the scientific advisory team on Covid-1 before official announcements are made around midday...

What you need to know about the coronavirus right now

Here's what you need to know about the coronavirus right now: More than 60.68 million people have been reported to be infected by the novel...

AstraZeneca CEO expects to run new global trial of COVID-19 vaccine

AstraZeneca is likely to run an additional global trial to assess the efficacy of its COVID-19 vaccine using a lower dosage, its chief executive...

European Parliament urges EU to impose sanctions on Turkey over Cyprus

The European Parliament has urged the EU to impose sanctions on Turkey after President Tayyip Erdogan this month paid a visit to the breakaway...

EBRD’s mandate in Cyprus to conclude end of 2020

The European Bank for Reconstruction and Development's mandate in Cyprus will conclude by the end of 2020, according to a press release from the lender. Because...

Taste

Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...

Mezedes

No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...