On Friday, the President of the Republic, Mr. Nikos Christodoulides, laid the foundation stone of the Cyprus Land Development Corporation (CLDC) project for affordable houses, in Agios Nikolaos area, in Larnaka.
The first social residences will be ready in 2024 and beneficiaries will be people on low income.
The Ianthi Complex, as it was named, will be located at the entrance of Larnaca in the area where the Metropolis Mall is located, will consist of 34 apartments, and will be completed in two phases. In the first phase, 24 residential units will be erected, 16 with three bedrooms and eight with two bedrooms.
The cost of the first phase of the project will amount to €3.8 million. The project is being implemented on a former municipal plot with a total area of 4,000 sqm, which was acquired by CLDC from the Municipality of Larnaca.
Speaking during the ceremony of laying the foundation stone, which was attended by the Minister of Interior, among others, the President of CLDC, Elena Koussiou, said that the organization “has so far helped about 5,000 people and families and operates in harmony with the private sector, which it does not wish to compete with or replace in any way”.