Tuesday, May 16, 2023

RETIREMENT VILLAGE PLANNED WITH INVESTMENT OF €98.3million

 Filenews 16 May 2023 - by Angelos Nicolaou



The development of an integrated retirement village that satisfies the social, medical, and psychological needs of elderly clients in combination with state-of-the-art facilities of a nursing school, is planned in Peristerona. The proposed development of C.E.V Cyprus Eco Village Ltd is addressed to the elderly (retirement village).

The purpose of the retirement village is to provide modern and integrated geriatric care services to the elderly from Cyprus and abroad. Based on an initial evaluation by the architectural team, the total investment cost is estimated at €98.3 million, while the total duration for the completion of the project is estimated at approximately 4 years from the day of licensing.

According to the researchers, the proposed project is expected to have a significant positive impact on the economic, social and environmental aspect of the entire region since.

The retirement village includes the following strategic uses: 1) Modern Geriatric Care and Monitoring Center 2) Health Rehabilitation Center 3) School of Nursing. The development will have 917 parking spaces, of which 21 for people with disabilities. In full development, the proposed project is expected to have a capacity of 729 residents, 315 visitors, 170 employees.

The project is designed to include different types of developments, which will work together harmoniously in order to offer a comprehensive experience to residents, students and staff and create a safe, affordable, self-sufficient and enjoyable environment. These include: • An Education Centre consisting of five buildings. The main building of the nursing college, three student housing buildings and a kindergarten. • Medical Center consisting of four buildings. Two Geriatric Care buildings, a Rehabilitation Center and a Sports Club building. Central Square that will host shops such as supermarket, pharmacy, barber shop, dry-cleaner, cafes, restaurants etc.