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Company maps properties in Nicosia in danger of Pedieos flooding

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Real estate company Ask Wire on Tuesday published a report identifying the properties in Nicosia in danger of a possible overflowing of the Pedieos river.

According to Ask Wire, a total of 900 buildings in the Chryseleousa area in Strovolos could be affected by an overflowing of Pedieos.

Specifically, 15 buildings which are particularly close to the banks of the river were listed as being in a danger zone.

These buildings are at a location which floods every 20 years, the company explained, adding there is a 5% chance that Pedieos will overflow in the next few years.

In addition, 120 properties farther from the river’s banks, at a location which floods every 100 years were listed. The possibility that these properties will be affected by flood in the coming years is 1% the report said.

Also, 770 properties were identified in the wider area of the river which floods every 500 years. These properties have a 2% chance of being affected by flooding in the next few years.

“As weather events intensify in the coming years, their impact on the real estate sector should be taken seriously by all involved, whether it is private persons who will acquire a property or public sector agencies that will proceed with new projects, or even private organisations such as real estate development companies, insurance companies and banks,” Ask Wire CEO Pavlos Loizou said.

“This is an issue that concerns everyone as it must be taken into account if they are going to invest, lend, develop or buy real estate,” Loizou concluded.

Pedieos
Pedieos

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