Lakatamia to get 18 new affordable homes

The Cyprus Land Development Corporation (Koag) has signed contracts with B.K.V Exelixis General Constructions Ltd for the construction of the “Alexandra” residential development in Lakatamia, marking the launch of another project aimed at boosting affordable housing.

The agreement represents a significant step towards strengthening affordable housing through modern and high-quality developments, in line with Koag’s broader strategy.

The three-storey apartment building “Alexandra”, to be built on Akropoleos street in Lakatamia, will include 18 two-bedroom apartments designed to meet growing demand for quality and reasonably priced housing.

The project is presented as a modern residential proposal responding to increasing housing needs, particularly for individuals and families seeking accessible home ownership options.

According to the announcement, the design focuses on architectural quality and improved daily living conditions, with an emphasis on functionality and comfort.

The apartments will feature spacious and bright interior spaces, ensuring sufficient natural light and ventilation throughout.

Large verandas will further enhance the comfort and overall living experience of residents, contributing to a higher standard of everyday life.

The development’s proximity to a public green space adds value to the project, creating an environment that promotes wellbeing and daily contact with nature.

In terms of infrastructure, the building will include a fully organised ground floor pilotis area with covered parking and storage spaces.

Provision has also been made for full accessibility for persons with disabilities, ensuring inclusivity in line with modern housing standards.

The project incorporates modern technical specifications and safety features, designed to meet current requirements for functionality and secure living conditions.

Particular emphasis has been placed on energy efficiency and sustainable development, with the building set to achieve energy efficiency class A certification.

The installation of a photovoltaic system, combined with thermal insulation aluminium frames and an external insulation system, is expected to significantly reduce energy consumption.

Additional features such as a video entry system and covered parking provisions are intended to further enhance safety and convenience for residents.

The “Alexandra” development forms part of Koag’s strategic investment in affordable housing, aimed at offering modern and quality housing solutions at reasonable cost.

The initiative is particularly targeted at young families and citizens seeking to acquire a home, addressing ongoing housing challenges in Cyprus.

It was also announced that apartment prices are expected to be published in May 2026, enabling interested buyers to submit applications.

The implementation of the project confirms Koag’s ongoing commitment to sustainable and high-quality residential developments, contributing meaningfully to tackling the housing issue.

A recent related development saw Koag proceed with the “Adonis III” affordable housing project in Polemidia, following the signing of contracts with A. Aristotelou Construction Ltd for the construction of 29 semi-detached three-bedroom homes featuring modern architecture and energy-efficient design.