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

Trump’s push to reopen schools part of bid to boost suburban standing

President Donald Trump's demand for U.S. schools to fully reopen this fall amid the coronavirus pandemic is central to an emerging re-election strategy that...

Pope ‘very pained’ by decision to turn Hagia Sophia museum into mosque

  Pope Francis said on Sunday he was hurt by Turkey's decision to make Istanbul's Hagia Sophia museum a mosque, the latest religious leader to...

Paphos: 7 injured in traffic collision

  Seven people have been taken to hospital after a collision between two cars that occurred on the Droushia-Latchi road a little after 1 pm...

11 of 18 latest coronavirus cases imported (infographics)

    Eleven of the 18 new coronavirus cases reported in the 14 days of June 26 to July 9 are imported and 89% of them...

Britain to spend 705 mln pounds on EU border infrastructure

    Britain will spend 705 million pounds on border infrastructure to help keep trade flowing after its transition deal with the European Union expires at...


Kolokasi (Taro Root)

Ingredients: (Serves 4) 1 kg kolokasi (taro) root ½ kg pork (lean belly pork or shoulder) cut into large cubes 6 tbsp olive oil 1 head of fresh celery,...


Moungra is a traditional Cypriot mezze which consists in cauliflower pickled in fermented bread dough and typically served as an appetizer or meze. It...

Cheesy Eggplant Rolls

Ingredients 4 Eggplants 2 tbsp olive oil 1 chopped onion, 2 grated carrots 1 garlic clove (sliced) ¾ of the cup finely chopped canned tomato, ½ ts sugar 1 ts oregano 2 tbsp...

Black eyed peas with chard (Louvia me laxana)

Ingredients: 2 cups black eyed peas small lemon (juice) + 1 tsp lemon zest 1 bunch Cypriot chards olive oil & lemon for serving salt & pepper Method: Step 1 Put the...