bbf firm to invest €189 million in transforming historic KEAN factory

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Property developer bbf plans to convert the historic KEAN soft drinks factory in Limassol into a €189 million mixed-use development featuring residential towers, offices and commercial spaces.

The project in Agios Athanasios will include five high-rise buildings – four residential and one office – with 317 apartments, underground parking facilities, commercial spaces and a central plaza, the Environment Department’s consultation documents revealed.

The development will cover 46,162 square metres, with a net development area of 40,768 square metres after land allocation for public infrastructure, the documents showed.

Limassol-based bbf, which has completed 150 projects across four countries in the past 15 years, has filed the proposal through KEAN soft drinks ltd. Public consultation on the project runs until May 11, 2025.

The existing KEAN factory will continue normal operations until its relocation is completed, after which the existing facilities will be demolished to begin development, the company said.

Construction will be implemented in three phases over six years, beginning in January 2026 with buildings 4 and 5, followed by building 3 for office use, and concluding with buildings 1 and 2 by December 2031.

Two residential towers will reach approximately 84.85 metres high with 19 floors, while the office building will stand at 71.15 metres with 17 floors. The other residential buildings will be 58.25 metres (13 floors) and 39.15 metres (9 floors) tall.

The project will include 1,167 parking spaces, 92 of which will be accessible for people with disabilities, and 162 bicycle parking spaces. Plans also include planting 220 new trees.

A 6,500-square-metre central plaza will serve as a hub for social and commercial activity, connecting the buildings to each other and the surrounding area.

During the public presentation of the Environmental Impact Assessment Study, local government representatives expressed concerns about environmental impacts, particularly regarding the Dassoudi forest area, underground water resources and soil sealing.

The developers have claimed that they will implement measures including Sustainable Urban Drainage Systems and permeable surfaces where feasible. Discussions also addressed the need to transplant approximately 150 olive trees on the site and conduct a Traffic Impact Study.

The project bears the signature of internationally renowned London-based architectural firm UHA, combining respect for the area’s cultural heritage with innovative architectural solutions.

In addition to the KEAN project, bbf is also developing the Land of Tomorrow project in collaboration with the Lefkaritis Group and Petrolina, and renovating the historic Berengaria Hotel in Prodromos.

The company’s other projects in Cyprus include eden roc, Marco Polo and Montebello. bbf is also the official sponsor of Apollon Limassol football club.

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