{"id":4882,"date":"2025-03-15T03:26:52","date_gmt":"2025-03-15T03:26:52","guid":{"rendered":"https:\/\/in-greece.com\/index.php\/2025\/03\/15\/investor-irked-by-brake-on-nicosia-project\/"},"modified":"2025-03-15T03:26:52","modified_gmt":"2025-03-15T03:26:52","slug":"investor-irked-by-brake-on-nicosia-project","status":"publish","type":"post","link":"https:\/\/in-greece.com\/index.php\/2025\/03\/15\/investor-irked-by-brake-on-nicosia-project\/","title":{"rendered":"Investor irked by brake on Nicosia project"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div id=\"post-1264160\">\n    <!-- .entry-header --><\/p>\n<div class=\"first-img article_thumbnail_wrapper\" itemscope=\"\" itemprop=\"associatedMedia\" itemtype=\"http:\/\/schema.org\/ImageObject\">\n                                                                    <picture><source media=\"(max-width: 767px)\" srcset=\"https:\/\/www.ekathimerini.com\/wp-content\/uploads\/2025\/03\/Nicosia_Chammas-320x200.jpg?v=1741984849\"><img loading=\"lazy\" decoding=\"async\" width=\"960\" height=\"600\" class=\"picture-main-block-image\" data-nxsrc=\"https:\/\/www.ekathimerini.com\/wp-content\/uploads\/2025\/03\/Nicosia_Chammas.jpg?v=1741984849\" alt=\"Investor irked by brake on Nicosia project\" src=\"https:\/\/www.ekathimerini.com\/wp-content\/uploads\/2025\/03\/Nicosia_Chammas.jpg?v=1741984849\"\/><br \/>\n                        <\/source><\/picture>\n                                                        <\/div>\n<div class=\"entry-content\" itemprop=\"articleBody\">\n<p>A Lebanese investor is threatening legal action after the Department of Antiquities blocked a 115-million-euro development near the historic Nicosia walls, despite other authorities initially supporting the project.<\/p>\n<p>At a press conference, businessman Wahid P. Chammas, owner of Nerofarm Properties, said he purchased the land near Famagusta Gate with official encouragement and spent eight years on studies and approvals. However, the Department of Antiquities is now refusing to give the final nod, arguing that the 22-story complex could damage the nearby Venetian walls.<\/p>\n<p>\u201cAll the authorities are in favor, except one,\u201d Chammas said, accusing the department of ignoring legal procedures and refusing to meet with him.<\/p>\n<p>The proposed development includes a 58-room hotel and 116 pay-as-you-rent apartments, aiming to revitalize the area while respecting cultural heritage, according to the investor. He also argued that the department\u2019s eight-storey limit for the zone would actually harm the area by reducing green spaces and forcing a denser, less sustainable design. However, the Department of Antiquities has refused to budge.<\/p>\n<\/p><\/div>\n<p><!-- .entry-content --><\/p>\n<\/div>\n<p><script>\n        var NXFBPixelFunc = function () {\n            document.removeEventListener(\"scroll\", NXFBPixelFunc);\n            setTimeout(function () {\n                !function (f, b, e, v, n, t, s) {\n                    if (f.fbq) return;\n                    n = f.fbq = function () {\n                        n.callMethod ?\n                            n.callMethod.apply(n, arguments) : n.queue.push(arguments)\n                    };\n                    if (!f._fbq) f._fbq = n;\n                    n.push = n;\n                    n.loaded = !0;\n                    n.version = '2.0';\n                    n.queue = [];\n                    t = b.createElement(e);\n                    t.async = !0;\n                    t.src = v;\n                    s = b.getElementsByTagName(e)[0];\n                    s.parentNode.insertBefore(t, s)\n                }(window, document, 'script',\n                    'https:\/\/connect.facebook.net\/en_US\/fbevents.js');\n                fbq('init', '109138906120213');\n                fbq('track', 'PageView');\n            }, 0)\n        };\n        document.addEventListener(\"scroll\", NXFBPixelFunc);\n    <\/script><br \/>\n<br \/><br \/>\n<br \/><a href=\"https:\/\/www.ekathimerini.com\/economy\/1264160\/investor-irked-by-brake-on-nicosia-project\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Lebanese investor is threatening legal action after the Department of Antiquities blocked a 115-million-euro development near the historic Nicosia walls, despite other authorities initially supporting the project. At a press conference, businessman Wahid P. Chammas, owner of Nerofarm Properties, said he purchased the land near Famagusta Gate with official encouragement and spent eight years &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Investor irked by brake on Nicosia project\" class=\"read-more button\" href=\"https:\/\/in-greece.com\/index.php\/2025\/03\/15\/investor-irked-by-brake-on-nicosia-project\/#more-4882\" aria-label=\"Read more about Investor irked by brake on Nicosia project\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":4883,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"fifu_image_url":"https:\/\/www.ekathimerini.com\/wp-content\/uploads\/2025\/03\/Nicosia_Chammas.jpg?v=1741984849","fifu_image_alt":"","footnotes":""},"categories":[2],"tags":[],"class_list":["post-4882","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","no-featured-image-padding"],"_links":{"self":[{"href":"https:\/\/in-greece.com\/index.php\/wp-json\/wp\/v2\/posts\/4882","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/in-greece.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/in-greece.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/in-greece.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/in-greece.com\/index.php\/wp-json\/wp\/v2\/comments?post=4882"}],"version-history":[{"count":0,"href":"https:\/\/in-greece.com\/index.php\/wp-json\/wp\/v2\/posts\/4882\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/in-greece.com\/index.php\/wp-json\/wp\/v2\/media\/4883"}],"wp:attachment":[{"href":"https:\/\/in-greece.com\/index.php\/wp-json\/wp\/v2\/media?parent=4882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/in-greece.com\/index.php\/wp-json\/wp\/v2\/categories?post=4882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/in-greece.com\/index.php\/wp-json\/wp\/v2\/tags?post=4882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}