On November 30th 2016 Pafilia Property Developers and the Arabian Construction Company (ACC) and Joannou & Paraskevaides Group (J&P Group) consortium will sign the contact for the construction of the 37-storey building ONE. The construction contract is valued at €77 million and it will result to the highest residential, seafront tower in Europe, situated at the Limassol seafront. The total investment is valued at €120 million.
With a height of 170 metres, 37 floors and 83 luxurious apartments, 1 3-floored penthouse, ONE tower will offer uninterrupted sea and mountain view. The impressive building thus creates new standards for property sector both in Limassol and Cyprus overall.
Pafilia’ s goal, as mentioned in a relevant announcement, is to attract foreign investment, positioning the island on the international luxury property market. So far over 55% of the development has already been sold.
ONE was recently honoured with a 5 Star award for Residential High-Rise Development at the European Property Awards 2016-2017, organized by The Telegraph in London. Its construction raises the quality and luxury standards to meet buyers’ requirements,
At the same time it is expected that the construction of the tower will have multiple positive effects for the local economy. The project is expected to create hundreds of employment opportunities both in the constructions and services sector.
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