The Shipping Deputy Ministry is currently in consultations with the Ministry of Finance regarding the Project Concept Note (PCN) it has submitted, which is under review by the relevant department, for the construction of an emblematic headquarters building on the site of the former Nemitsa factory in Limassol.

The project is located in an area where numerous high-rise buildings and mixed-use developments worth many millions of euros are either under construction or planned. In practice, the transformation of the area into Limassol’s new financial district has already begun.

The Shipping Deputy Ministry told “Entrepreneurial Limassol” that efforts are being made for the project to move forward as quickly as possible, and it is estimated that the green light from the Directorate General Growth of the Ministry of Finance will be given within a month.

As stressed, the relocation is considered particularly important, as the services of the Deputy Ministry are currently housed in different buildings that do not adequately meet its needs. Priority is being given to bringing all services together in a single building that will effectively serve the needs of the Deputy Ministry, while at the same time making the best possible use of the Nemitsa land plot, which was granted to the Shipping Deputy Ministry by decision of the Council of Ministers for the purpose of constructing a new building and covering its accommodation needs. At the same time, the project is expected to contribute to the upgrading of the rapidly developing area.

An Environmental Study has already been prepared for the project and submitted to the Department of Environment for review and comments.

It is noted that, following the securing of the relevant approval, additional studies will also be prepared, including a Feasibility Study.

Beyond covering the accommodation needs of the Shipping Deputy Ministry, the construction of the new building provides Limassol with the opportunity to host the city’s only Deputy Ministry in a modern and emblematic building that will reflect the prestige of the Republic of Cyprus and the maritime sector.

It should be noted that the Deputy Ministry and the government are considering the possibility of constructing a conference centre with a capacity of more than 1,000 delegates on the same site, as well as establishing a Maritime Museum.

At the same time, the proposed new 24-storey office tower, with a height of 93 metres, in the Tsiflikoudia area by Interorient Shipmanagement (east of the site where the Deputy Ministry will be built), with a budget of €50 million, is currently under evaluation by the Department of Environment.

The building, designed by the architectural firm “Eraclis Papachristou Architects”, is intended to accommodate approximately 600 employees and will incorporate modern facilities, parking areas, and energy-efficient solutions.

The new building, which is expected to house the offices of the shipping company “Interorient Shipmanagement”, will be constructed on an adjacent plot to where the company’s offices are currently located, near the traffic lights of the new Limassol port.

A little further west from the site where the Shipping Deputy Ministry is planned to be built, the development company Imperio has already fenced off a large plot of land where it intends to construct a mixed-use development named “Imperio Portside”.

According to information received by “Entrepreneurial Limassol” from the company, “Imperio Portside” is a mixed-use development with international BREEAM certification, combining 1 and 2-bedroom residences, flexible commercial spaces, and multiple amenities such as a gym and a daycare center. It is situated in a prime location near the sea, the marina, the offices of major companies, and western Limassol.

Construction is expected to begin soon, with project completion anticipated in 2028. It should be noted that under the Special Housing Incentive for Affordable Housing Production, Imperio paid nearly €2 million to the Cyprus Land Development Organization as compensation for the project’s licensing, thereby boosting the supply of affordable housing in Cyprus and reaffirming its role as a responsible developer.