PROJECT LIMASSOL by Phileleftheros Public Company LTD

FREE WITH THE CYPRUS WEEKLY ON FRIDAY 29 JULY POST DATE SALES IN KIOSKS AT €2,50

PROJECT LIMASSOL

THE PROJECTS THAT ARE CHANGING THE FACE OF LIMASSOL

THE COMPANIES AND THE PEOPLE BEHIND THE IMPRESSIVE BUILDINGS JULY 2©16

JULY 2016

Ads.indd 70

7/28/16 12:49:03 PM

Ads.indd 70

7/28/16 12:47:46 PM

CONTENTS PROJECT LIMASSOL 2. FROM “EFTAPATO” TO

46. THE OVAL – CYBARCO

SKYSCRAPERS

52. ONE 4. ANDREAS DIMITRIADES: PROJECTS VALUED AT OVER €8 BILLION

54. CHRISTOS MOUSKIS: RESTAURANTS AND A SMALL CAFÉ ON THE SEA

6. THE CHANGING FACE OF THE CITY

57. GEORGIOS STAMATIOU: “QUALITY IS ONE THING, LUXURY ANOTHER”

8. AMATHUS BEACH HOTEL

58. THE NEW LIMASSOL WILL

10. LIMASSOL DEL MAR – D ZAVOS

BE BUILT BETWEEN THE MARINA AND THE PORT

GROUP / LEPTOS GROUP

18. FOUR SEASONS HOTEL

60. ΝΟBLE CENTRE – IMPERIO

20. HALCYON

66. TAKIS VASHIOTIS GROUP

22. ARISTO DEVELOPERS

76. ANDREAS CHRISTOU: REQUIREMENTS AND OPPORTUNITIES IN THE MAKING

28. iHOME 30. LIMASSOL MARINA

78. INTERORIENT: 36. OLYMPIC RESIDENCE

A €22-MILLION DIAMOND

42. PARKLANE LUXURY

80. YIANNIS ANTONIOU: THE

COLLECTION RESORT & SPA

EDITORS - DIRECTORS NIKOS C. PATTICHIS MYRTO MARKIDOU EDITORIAL DIRECTOR LEFTERIS ADILINIS EDITED BY YIANNIS ANTONIOU DIRECTOR, SALES & MARKETING RENOS ONOUFRIOU

CREATION OF A NEW CITY

SALES EXECUTIVES PANIKOS PITSILLIDES DINOS KOZAKOS ATHINA ANTONIOU

PAGE LAYOUT MICHALIS ORPHANOU, NKI ANDREOU

PRINTING AND BINDING PROTEAS PRESS LTD, NISSOU INDUSTRIAL ESTATE 2571, P. O. BOX. 21098, 1501 NICOSIA ΤEL. 22479000, FAX 22479200, EMAIL: INFO@PROTEASPRESS.COM.CY

PHOTOGRAPHS ANTONIS G ANTONIOU, «PH» ARCHIVE

JULY 2016

REPORTAGE

From "Eftapato" to skyscrapers Nearly 60 years have passed since the first attempt at residential development in Limassol with the construction of apartments for sale

otis Kolakides’ investment venture was not crowned with success, but it did arm him with valuable experience for the future. Residential development was attempted for the first time in 1959 when architect (later mayor of Limassol) Fotis Kolakides returned from his studies in the US. He constructed a five-storey apartment block with the aim of selling the individual units. The building, which to this day is known as the ‘Eftapato’, is located next to the roundabout, in front of Limassol’s law court. According to architect Tasos Andreou, the building gained a place in the city’s history, but from an economic point of view, the investment was not successful, resulting in Kolakides selling the building for £75,000 to the company ‘Charaki’. The ‘Eftapato’ established Kolakides as one of the voices of modernism in Cyprus. A number of other modern architectural buildings sporting Kolakides’ signature followed, including the then-innovative Amathus hotel, which he designed with the help of German

first office block built in the city. Michaelides also designed the building which houses the bank of Cyprus, opposite the church of Ayia Napa, at the junction of Ayiou Andreou and Saripolou Streets. This building has monumental elements. The Pallas Theatre, now the Pattichion Theatre,

architect Walter Gropius, the Pitta apartment block ON Gladstone Street, which today houses the offices of Zavos, the N. Solomonides building in Ayiou Andreou Street (now Columbia Plaza) and the Chrysostomos Meliniotes apartment block in front of the old port. Limassol has many examples of modern as well

THE ‘EFTAPATO’ ESTABLISHED KOLAKIDES AS ONE OF THE VOICES OF MODERNISM IN CYPRUS. A NUMBER OF OTHER MODERN ARCHITECTURAL BUILDINGS SPORTING KOLAKIDES’ SIGNATURE FOLLOWED designed by Roussou and Perikleous, the Lanitiou complex, although designed abroad, was supervised by Roussou and Perikleous, the First Technical School, the Police Headquarters designed by state architects during the colonial era, and the first offices of the Limassol Cooperative Bank, west of the Town Hall are buildings of the ’50s that stand apart. During the same decade, Neoptolemos Michaelides designed the Pavlides Apartments which was the first private apartment block in Limassol.

as Art Deco architecture from the 1930s. The best example of Modernist architecture is the house of Pavlides Zenonos (the present Municipal Gallery), a project by Veniamin Ginsburg who also designed the Rialto Theatre. The Terra Santa Convent designed by Stavros Economou as well as the Astir Hotel also belongs to the Modernist movement. The building housing the company Amathus, designed by Polyvios Michaelides, built next to the old port in the early ’50s was the

JULY 2016

The Amathus Hotel, designed towards the end of the ’60s by Fotis Kolakides and the architectural office of the German theorist of modern architecture, Walter Gropius

The â&#x20AC;&#x2DC;Eftapatoâ&#x20AC;&#x2122; was built in 1959 and was the tallest building in Limassol. Each one of its five floors had four apartments. It was the first residential development ever built

The Pitta Apartment block on Gladstone Street

JULY 2016

ARTICLE

Projects valued at over €8 billion Promotional activities from the official representative body of large private developers in Cyprus

ANDREAS DEMETRIADES PRESIDENT OF THE LARGE DEVELOPERS' ASSOCIATION

he Large Developers’ Association is the official body representing large development projects in Cyprus, and represents over 25 companies that have, over time, left their mark on the development of Cyprus and are promoting the implementation of projects valued at over €8 billion. The materialisation of the projects is expected to create over 7,000 jobs during the construction and operational stages. There will also be a wealth of important benefits such as taxes and other sources of revenue to swell the state coffers, as well as additional investment opportunities due to the boost to the general economy. Such projects, several of which have a sufficient

The need for the immediate implementation of reform policies to attract investors, to create a healthy commercial environment and to generate jobs is paramount. It should be extroversion and a competitive entrepreneurship that should be the driving force behind such a model, and not the state. The 25 large complex development projects being promoted by our members should receive the required licensing, via swift procedures, so

level of maturity to allow for a short completion time, include golf courses, marinas, medical and diagnostic centres, health and wellness centres, multidisciplinary parks, research and development centres, organised sports centres, schools and universities, commercial and residential developments and more. The mission of the association is to promote and implement large development projects in Cyprus, the rejuvenation of economic activity of Cyprus and the creation of a friendly and professional

on the improvement of the sustainability, profitability and appeal of development projects in Cyprus. The provisions of the Political Declaration on the creation of two strategies in large uniform developments, as well as the complex, timeconsuming and expensive approval process of development, create an environment with major constraints toward taking an investment risk by the private sector and especially by foreign investors. They also generate unease, put off

NOW, MORE THAN EVER, WE REQUIRE THE CORRECT AND BRAVE DECISIONS WITH REGARDS A SPEEDY COMPLETION OF REFORMS IN THE ECONOMY AND THE STATE IN ORDER TO CREATE THE FOUNDATION FOR A MODERN, PRODUCTIVE AND COMPETITIVE ECONOMY our entrepreneurs can promote strategic alliances with overseas investors for their implementation. The licensing of the projects prior to their promotion for investment is an imperative prerequisite that the state should address with a positive attitude. In other words, now that the major economic threats have receded, the state should concentrate

environment for the creation of new jobs. The association is working to enhance the prestige and image of Cyprus as a reliable investment destination and to attract foreign investment in the development sector through a series of promotional programmes both locally, but particularly targeting international markets.

JULY 2016

prospective investors and freeze commercial plans and initiatives. We must first create the necessary conditions in order for foreign investors to trust in development projects and our country. International companies and investors desire licensed, mature and viable projects, with high profitability, a friendly professional environment, transparency and

club, a hotel, residential development, shops, a commercial centre and health-and-wellness facilities. Leptos Group Blue Marine Residences. Office and residential development. Leptos & Zavos Groups Del Mar. Residential development. Zavos Gardea Private Medical Resort. A rehabilitation centre with around 100 double rooms and treatment facilities, a research centre and a stand-alone, fully functional hotel with 42 double rooms and other facilities.

quick, bureaucracy-free procedures. There can be no place for petty party politics in the pursuit of reform. The state requires unity, understanding and a desire for change. Now, more than ever, we require the correct and brave decisions with regards a speedy completion of reforms in the economy and the state in order to create the foundation for a modern, productive and competitive economy. After all, no investor would risk putting money into a country where procedures are complicated and their execution is not transparent. We need to realise that the international

access to the beach. The Marina includes a spa, gym, ocean training centre and a cultural centre for events and exhibitions throughout the year.

competition is fierce. We do not have the luxury to distance investors, nor should we place obstacles in the development of the country. We need to be freed from bureaucratic dysfunctions and onerous conditions, adopting a modern and flexible regulatory framework to meet the needs of investors.

Limassol Greens Golf Resort. A mixed development project comprising an 18-hole golf course, 397 luxury villas, 264 apartments and 100 plots, clubs, shops, restaurants and health and sports facilities in an area of 1,500,000 m2 in Fasouri.

NINE PROJECTS In the Limassol District, the following nine projects are being implemented or being promoted for implementation:

Aristo Eagle Pine Golf Resort. Includes an 18hole golf course, golf club, recreational facilities and a residential development at Ayios Amvrosios.

Limassol Marina. Includes 650 berths for boats of up to 110m in length, 162 luxury apartments and 74 villas with private docking berths and direct

Vasa Golf Resort. Includes a golf course and

JULY 2016

St Elisabeth Golf Resort Ltd. Includes an 18-hole golf course, club house, luxury hotel, tennis academy, golf academy, an athletics centre, football fields, shops, residential development, conference centre and other facilities. Pafilia Limassol Landmark. Includes residential, commercial and recreational development.

Contact Large Developers’ Association (Associated with the Cyprus Chamber of Commerce and Industry) ΚΕΒΕ Building: 38 Grivas Digeni Avenue & 3 Deliyiorgi Road, P.O. Box 21455, 1509 Nicosia Tel: 22889880 Fax: 22665685 BigProjects@ccci.org.cy www.CyprusInvestments. com.cy

DEL MAR

ONE

THE OVAL

DASOUDI CROWN PLAZA

GARDEN

BACKFILL

OLYMPIC RESIDENCE

UNDER CONSTRUCTION COMPLETED

LIMASSOL MARINA Η είσοδος του ξενοδοχείου

JULY 2016

I-HOME

HALCYON

PLUS SEA ΑΜΑΤHUS

MAΡINA ST.RAPHAEL

POSIDONIA HOTEL

ΒREEZE

PARKLANE (Le Meridien)

Vashiotis JOHN MARIE

FOUR SEASONS RESIDENCES

THE CHANGING FACE OF THE CITY

THE LIMASSOL MARINA AND THE OLYMPIC RESIDENCE ARE THE TWO BUILDING PROJECTS WHICH HAVE BEEN COMPLETED FROM THE MANY UNDER CONSTRUCTION OR BEING PLANNED FOR LIMASSOL. THESE PROJECTS, EXPECTED TO BE COMPLETED WITHIN THE NEXT TWO YEARS, WILL NOT ONLY CHANGE THE FACE OF LIMASSOL, BUT WILL IMPACT THE GENERAL LAYOUT OF THE CITY. SUCH TRANSFORMATION STARTED WITH THE MARINA, ONE OF THE LARGEST PROJECTS EVER UNDERTAKEN IN CYPRUS, WHICH LITERALLY CHANGED THE LAYOUT OF LIMASSOL, AS IT CREATED ADDITIONAL ONSHORE SPACE. THE PROJECTS AND THE COMPANIES BEHIND THIS URBAN METAMORPHOSIS ARE PRESENTED IN THE FOLLOWING PAGES.

JULY 2016

AMATHUS BEACH HOTEL

“Interior luxury, external paradise”

rom the day it opened its doors in 1973 until today, the Amathus Hotel is associated with quality, maintaining a high level of services which justifies its reputation as a member of Cyprus’ fleet of luxury hotels. The last two years have seen the historic hotel undergo an upgrade due to the change at ownership level, following

offering quality services to families with children without compromising the tranquillity which adult guests require. The five-star coastal hotel, a member of the ‘Leading Hotels of the World’, has 239 rooms and suites and offers exclusive spa facilities. Its renowned Limanaki fish tavern is particularly worthy of note, as are the Amathus’ large gardens which embrace the sea, as well as its top-level lounges, restaurants and refined interiors.

the cooperation between Amathus Public, Muskita Hotels and the Russianowned Palmar Investments. The management of the hotel is in the hands of Muskita Hotels, owners of the nearby Four Seasons Hotel. The Amathus’ common areas have thus been recently upgraded with renovation works, in fitting with the management’s new motto, “interior luxury, external paradise”, and

JULY 2016

www.amathuslimassol.com amathusl@amathushotel. com 75 Amathus Avenue, 4532 Limassol Tel. 2583Â 2000 A member of www.muskitahotels.com.cy

JULY 2016

LIMASSOL DEL MAR

A touch of beauty TWO WO LEADING A NG REAL A ESTATE S A FIRMS, MS THE D ZAVOS A OS GROUP AND THE LEPTOS GROUP, HAVE JOINED FORCES IN THE DEVELOPMENT OF THE AMBITIOUS DEL MAR PROJECT ON LIMASSOLâ&#x20AC;&#x2122;S PROMENADE

JULY 2016

LIMASSOL DEL MAR

Inspired by the sea

ypier Properties Ltd is constructing an ambitious project to impress both locals and foreigners. The Limassol DEL MAR, a dazzling project of high quality and design is set to change the Limassol promenade. The project is being developed by two of the leading development companies, the D Zavos Group and the Leptos Group, who have come together for this unique project.

The project was designed by the awardwinning international architectural firm, Benoy, one of the world’s largest architectural offices, famed for their design of the Ferrari Theme Park in Dubai and their Westfield London project. Limassol’s well-known architectural office UDS also participated in the design of the project. BuroHappold have undertaken the building’s concept design, including the static and electromechanical planning of the construction. This legendary and symbolic masterpiece has already attracted overseas attention, receiving international distinctions such as the Best 5-Star Residential High-Rise Development Cyprus 2015-2016 at the Property Awards in London and the High-Rise Architecture Cyprus 20122013.

the Limassol DEL MAR will be made up of two sleek masterpieces of modern architecture, with 168 ultra-luxurious two-, three- and fourbedroom apartments. The apartments will offer uninterrupted views of the sea from every room. A commercial centre with a variety of shops along a 170m seafront will be constructed on the ground floor, offering a unique opportunity for investment. The project aims to have the modern and innovative

THE PROJECT WAS DESIGNED BY THE AWARD-WINNING INTERNATIONAL ARCHITECTURAL FIRM BENOY, ONE OF THE WORLD’S LARGEST ARCHITECTURAL OFFICES, FAMED FOR THEIR DESIGN OF THE FERRARI THEME PARK IN DUBAI AND THEIR WESTFIELD LONDON PROJECT The project has been hailed as a huge success as a large number of apartments have been sold. Inspired by Limassol’s coast, the project aims to be the topic of conversation not only in Cyprus, but also throughout Europe and the Middle East. With its ideal location on the coast line, in one of the most soughtafter areas of Limassol,

design of the two towers add a touch of beauty to the already-beautiful promenade. Offering five-star hotel quality services on a 24hour basis, the Limassol DEL MAR features a gym, a spa, indoor and outdoor swimming pools and a club house. Additionally, it offers maintenance and rental services, a guarded entrance, security system and private parking.

JULY 2016

The highly-experienced team at the Limassol DEL MAR offices are ready to assist you with futher information Email: info@limassoldelmar.com Tel: 25 320015 Free-Phone: 8000 6070

JULY 2016

D ZAVOS GROUP

A development company founded on reliability and consistency A leader in the Cypriot market and considered one of the most important development groups in Cyprus

imitrakis Zavos established the D Zavos Group in 1980, with its main activity being land and building development. In 1992, his son Michalis Zavos, took control of the company, expanding the company’s activities abroad, and opening offices in Russia, Ukraine, the United Kingdom and a host of other nations in the Middle East, propelling the company to become one of the largest organisations in Cyprus. The D Zavos Group has been a leader in the Cyprus market over the last couple of years and is considered to be one of the most important land and residential developers on the island. The D Zavos Group of Companies has constructed over 127 commercial and residential projects, of which 111 have been issued with title deeds, thereby rightfully earning the respect and trust of its customers and associates. The conversion of nine large hotel units into luxurious residential units, with five-star hotel calibre services and amenities, has been one of the Group’s major accomplishments. Services like a 24-hour reception and security,

Limassol Corniche

Τhe Address

as well as cleaning and maintenance services, and features such as swimming pools, gyms and tennis courts, are all available to the tenants of these luxurious apartments and maisonettes. Most of the hotel units that have been converted into apartments have been issued with individual title deeds. Today, the Group offers all real estate-related services, with the most important following the area of development, as well as management and maintenance of properties. The management and maintenance service manages 10 private commercial centres, 25 other projects, plus a host of residential units. Professionalism, reliability and consistency are the foundations on which the D Zavos Group of Companies built its own company

headquarters. Cyprus has been promoted by many of the Group’s projects aboard, which today are benchmarks in quality and design. With an excellently-organised services and support department, the D Zavos Group of Companies also offers post sales services. These services include: maintenance and cleaning of facilities, gardening services, pool maintenance, rent collection, payments of accounts and security. It also offers interior design

JULY 2016

guidance by professional decorators. With careful construction, an excellent choice of materials, functionality and a modern architectural approach, the Zavos Group of Companies has thus succeeded in creating excellent residential units with unsurpassed uniqueness and been accredited with ISO 9001: 2008. New projects in the pipeline ZAVOS Group CEO

Aqua Park Resort Princess Court Interior

Crown Mansions

Michalis Zavos credits the incentives and tax credits offered by the state to attract investors as the reason for the recent upswing in the property market. According to Zavos, these steps have resulted in the resurgence of the property market and the attraction of both foreign and local investors. "The positive signs have started to appear because we’ve started seeing an increase in the demand to buy and to sell, as well as an increase in prices for the first time," he explains.

Apart from the Del Mar project, which is being constructed with the Leptos Group, the D Zavos Group is planning the development of the multi-storeyed ‘Limassol Corniche’ project on the city’s promenade, close to the Limassol Marina, as well as the multi-storeyed residential project ‘The Address’, also on the promenade and the residential projects ‘Princess Court’ and ‘Crown Mansions’ in the Germsoyia area of Limassol. The development of the last

phase of the ‘Aqua Park Resort’, the ‘Aqua Vacation Club’ - to include an indoor and outdoor swimming pool, a spa, a gym and a cafeteria - is also being planned. The Group is also planning a new innovative project which will be totally ‘green’, being powered exclusively by solar energy. The project will be unveiled in 2017.

JULY 2016

D. ZAVOS GROUP LAND & BUILDING DEVELOPERS 1, Griva Digenis Avenue, Zavos Kriel Court, 3035 Limassol P. O. Box 53311, 3302 Limassol Tel: +357 25 818555 Fax: +357 25 818550 Email: info@zavos.com Website: www.zavos.com

Venus Gardens

THE LEPTOS GROUP

Leaders for 55 years Our Philosophy is to create environmentally friendly projects with UNIQUE identity, DESIGN, and QUALITY

he Leptos Group is the leading group in land development in Cyprus. The Group’s strategy is based on two main pillars: Firstly, that each project has its own ‘heart’ and that it blends with the environment. Secondly, pioneering projects that open up new horizons in land development. The philosophy of Michael Leptos, Group founder and Executive Chairman, can be summarised as creating environmentally friendly projects with unique identity, design, and quality. The Group is also actively involved in the hotel and tourism industry through Leptos Calypso Hotels & Resorts, Education through Neapolis University, the first private University in Paphos and Healthcare through Iasis private Hospital.

A longstanding principle of the Group, is that commercial creativity is closely linked to social awareness. Therefore, the Leptos Group, as part of its social responsibility, is committed to the support of culture, sport, as well as other areas benefiting society in general. The Group’s leading position is based on its solid foundations; its founder’s vision, the creativity and professionalism of its workforce, its international sales network, its large prime land bank in development zones, its vast experience through a multitude of completed projects of different types and the provision of integrated support services. The principal strength of the Group, however, lies in its understanding of the wider business sector in which it operates, searching for new prospects and the

continuous redefinition of the term ‘land development’ with respect towards the environment. Amongst others, the Group offers the following projects: Limassol Del Mar An innovatively designed project on Limassol’s waterfront. More information on this project can be found on page 10-13 Blue Marine The project, whose plans are nearing completion, is situated in the ‘new heart’ of Limassol; on the waterfront and next to the Marina. Blue Marine, offers probably the best opportunity for investment due to its concept, close proximity to the Marina and to the new port as well as the expected development “frenzy” in this area which has been earmarked by the City Council to be a new business/

Blue Marine

Coral Seas Villas

JULY 2016

commercial/report area of Limassol. The project will offer apartments and penthouses with seaview as well as office space. It will include a multitude of services, facilities and amenities for its residents. Adonis Beach Villas & Coral Seas Villas Two impressive projects on the Paphos waterfront following the Group’s ‘master planned developments’ philosophy, each with its own unique and modern architectural style. Both developments offer luxurious and independent 3, 4 and 5 bedroom villas with uninterrupted sea view. Adonis Beach Villas is situated in an idyllic setting with its own ‘private’ bay in the Chlorakas area, only

Adonis Beach Villas

The founder and Executive Chairman of the Group, Michael Leptos Kamares Village

5 minute drive to the centre of Paphos and its picturesque port. The villas are all west-facing offering their residents the most majestic sunsets on the island. Coral Seas Villas are situated in the most sought after area of Cyprus, Coral Bay. The project offers ‘serviced living lifestyle’, common gardens, swimming pool and many other services and facilities. Residents will also benefit from access to the services and facilities of the Group’s two nearby five star hotels; Coral Beach Resort and Coral Thalassa Boutique Hotel Prices for villas start at €520,000 + VAT Venus Gardens A masterly designed

project built amphitheatrelike on a mild slope hill, a mere kilometre from the beach. All houses and apartments enjoy a sea view. The project offers a range of services with its ‘residents club’, communal swimming pool, tennis court as well as management and maintenance services. Venus Gardens is one of the Group’s most popular projects because of its features, and its attractive property prices, starting at just €308,000 + VAT Kamares Village The internationally acclaimed and awardwinning project ‘Kamares village’ is situated on the nearly hills of Paphos overlooking the countryside, Paphos

urban and tourist areas and the sea. It is a unique example of the concept of innovative development. Its completion heralded the largest residential resort development in Cyprus with over 1000 independent houses and holiday villas. All properties follow a specific aesthetic approach which blends with the natural environment, accentuating good taste and design, providing excellent seaviews, privacy and relaxation. This concept also characterizes the Group’s waterfront properties and those created with the philosophy of a ‘neighbourhood’ in mind. The development of the villas harmoniously blends with the natural environment following

JULY 2016

an intense tree planting programme which took place over the years. The project’s fantastic setting, beautiful natural green surroundings, architectural concept, and the services and other facilities offered through ‘Kamares Cub’ (which is used by Kamares Village residents on a daily basis) make this project unique. Prices for properties at the multi award-winning Kamares Village start at €400,000+VAT.

For more information for all of the company’s projects, call: 26 880120 or 80000707 (toll free) or by email info@leptosestates.com or visit our new website www.LeptosEstates.com

FOUR SEASONS HOTEL

Five-star upgrade further enhances top-notch hospitality

he Four Seasons Hotel has undergone the second renovation in its 23year history in the hotel industry. The flagship of the Muskita Hotel Group, the Four Seasons boasts 302 rooms and suites, and from the very first day it opened its doors, it succeeded in achieving its owners’ aims: to upgrade the level of hospitality possible to be offered by a Cypriot hotel. Meanwhile, the renovations recently completed were the result of targeted and in-depth research into hospitality details trending internationally at the moment. And in its implementation, new

materials and technology, as well as a highly-talented design team provided the basis of the upgrade. Apart from the luxury and top quality service offered by the hotel, it is also renowned for the gastronomic repertoire and variety offered to guests, and its outstanding spa facilities have been fully renovated, too. Among the many local and international honours the hotel has received, it was awarded ‘Best Employer’ and is the only hotel in Cyprus drawing the distinction ‘Investors in People’. The Company’s motto is: to offer genuine hospitality with the recognition of being the best. And for the Four Seasons’ welcome to be akin to that offered a family friend.

JULY 2016

www.fourseasons.com.cy enquiries@fourseasons. com.cy Ayios Tychonas, Limassol 3313 Tel: 25-858000 A member of: www.muskitahotels.com.cy

JULY 2016

HALCYON

Five-star hotel, mansions and apartments Stademos Hotels, owners of the Elysium Hotel in Paphos and the Mediterranean Hotel in Limassol are constructing a mixed-use tourist development project in Amathunda

he development will include a fivestar hotel, mansions and apartments in Limassol. Intensive construction on the Halcyon project has commenced, in order to

achieve its aim of accepting its first customers in the spring of 2018. The complex is in the Agios Tychonas area of Limassol, close to ancient Amathunda. "This new project is not just a hotel. It is a representative example of mixed-use tourist development which combines

a hotel with mansions and apartments," explains Demos Demosthenous, Chief Executive Officer of Stademos. He continues: â&#x20AC;&#x153;It is a comprehensive and dynamic complex which gives attention to detail; it has character and elegance

JULY 2016

while at the same time giving a sense of peace and relaxation. It consists of 183 rooms, all with an uninterrupted view of the ocean. The five executive suites, as well as the presidential suite, have their own private swimming pools and roof

gardens with a view of the Mediterranean. Nine whole-floor apartments and the 13 mansions increase the choices available to customers". Cement, copper, wood and stone will be used externally, while European marble will dominate the interior, accentuating the fine detail and commitment to quality and luxury. The stone adorning the project’s exterior walls will give the impression that the building is part of the coastline’s history. The unique way in which the building ‘blends’ with the environment attests to the

respect that Stademos Hotels PLC has for the culture and history of the city. The spa and health centre have been carefully designed to offer a high level of quality services in relaxing surroundings. Beauty, relaxation and wellness booths have been designed to strict standards. The athletics centre will offer the services of personal trainers, qualified athletics instructors and specialised dietary programmes, and constitutes an ideal model of a modern establishment. The project was designed by an internationallyacclaimed architectural

IT IS A COMPREHENSIVE AND DYNAMIC COMPLEX WHICH GIVES ATTENTION TO DETAIL; IT HAS CHARACTER AND ELEGANCE WHILE AT THE SAME TIME GIVING A SENSE OF PEACE AND RELAXATION group in San Francisco while the Rockwell Group from New York undertook the interior decoration. A characteristic feature will include landscaping, while endemic plants and trees will create a relaxing atmosphere for guests.

Amathountos Avenue, P.O. Box. 56767, 3310 Limassol Tel: 357 2582 8333 Fax: +357 2531 7555 info@stademos.com.cy www.stademos.com.cy

The aim is for Halcyon to accept its first guests during the spring of 2018

JULY 2016

ARISTO DEVELOPERS

Developing with vision, dynamism and consistency

JULY 2016

RECOGNISED FOR ITS LEADING ROLE IN LAND AND PROPERTY DEVELOPMENT FOR MORE THAN THREE DECADES, AND WITH A PORTFOLIO OF OVER 300 PROJECTS (IN CYPRUS AND GREECE), MARKED BY HIGH QUALITY CONSTRUCTION, EXCELLENT CUSTOMER SERVICE AND CONSISTENCY IN IMPLEMENTING OBLIGATIONS TOWARDS THEM, ARISTO DEVELOPERS CONTINUES TO FORGE AHEAD

JULY 2016

ARISTO DEVELOPERS

Investment and housing opportunities

Eagle Pine Golf Resort

Fifty projects under way in all Cyprus districts

luxury villas of the Imperial Residences impress with their unique, modern design, refined aesthetics and the high quality of the building materials in use.

IMPERIAL RESIDENCES – VENUS ROCK GOLF RESORT – PAPHOS In perfect harmony with Mediterranean architectural style, and incorporated into the largest development of the south-eastern Mediterranean, the renowned Venus Rock Resort in Paphos, the

PLAGE COASTAL RESIDENCES – PAPHOS The Plage Coastal Residences project is being constructed in the heart of the Paphos tourist area, along the cosmopolitan promenade starting from the traditional port of the city to the Geroskipou Municipal Beach. The project’s freestanding luxury villas with their modern designs highlight the

risto Developers offer ideal housing and investment opportunities via their 50 projects under construction throughout all the districts in Cyprus. Some of the present developments:

unique experience of a Mediterranean lifestyle. SEA CAVES RESIDENCES – PAPHOS A special collection of six free-standing luxury villas in the unique setting of the Sea Caves in Paphos and with an idyllic view of the sea, the Sea Caves Residences will offer occupants idyllic moments while admiring the greenery of the region and the blue hues of the horizon.

Imperial Residences

SPECTRUM BOUTIQUE RESIDENCES – LIMASSOL Consisting of impressive ultra-luxurious apartments, unparalleled modern architecture and style, the Spectrum Boutique Residences are being constructed in a majestic setting, opposite the St. Raphael’s cosmopolitan marina, offering panoramic sea views and vistas of the wider Limassol seafront.

Spectrum Boutique Residences

JULY 2016

Poseidon Grand Marina of Paphos

EAGLE PINE GOLF RESORT The Eagle Pine Golf Resort falls under the companyâ&#x20AC;&#x2122;s large-scale development projects, and is the second-licensed golf resort undertaken by the company. Geographically, it is placed between the picturesque communities of Ayios Amvrosios, Paramali and Sotira. Inspired by the local architecture of the area,

the project will include an 18-hole golf course, a club house with a restaurant, sports facilities, shops, touristic development and a series of residential plots and houses. Spread over a unique and scenic plateau, between two large morphologicallycompelling gorges, an uninterrupted view of the sea and connected to the Limassol-Paphos highway,

the project has attracted a lot of investor interest. POSEIDON GRAND MARINA OF PAPHOS As the major stakeholder in the Poseidon Grand Marina of Paphos consortium, Aristo Developers continue to pioneer development projects of distinction, not only in the Paphos District, but across Cyprus in General. The impressive

Sea Caves Residences

Plage Coastal Residences

JULY 2016

project which will have berths for 1,000 craft, will catapult Paphos into the international marine tourism market, enriching Paphosâ&#x20AC;&#x2122; tourism product and lifestyle. Simultaneously, the Poseidon Grand Marina, regarded as one of the most important projects in its category across the Mediterranean, is expected to bcomee a beacon for high-profile investors.

ARISTO DEVELOPERS

A leading company in residential and land development The group offers the largest range of unencumbered real estate

risto Developers which today holds a leading position among land and residential development companies was established in 1980 by Theodoros Aristodemou, who, since then, has acted as CEO of the group. Proof of the company’s success is displayed in the trust shown by the wealth of our multinational clientele (12,000 satisfied

customers in the last 20 years) for: ◗ The high quality of construction and style which distinguish our projects ◗ Unique and unparalleled settings chosen for our developments ◗ The longstanding experience and international awards received from overseas organisations (the first company to be awarded an ISO 9001 certificate of

quality for construction – Class A construction company) ◗ A network of more than 1,500 associates, worldwide ◗ Our dynamic presence in the Russian, Chinese, Egyptian, Greek, UK, Dubai and Cyprus markets ◗ The employment of over 250 office personnel and a multitude of associates and suppliers ◗ The contribution of €200 million to the state in the form of income tax for the sale of real estate valued at €2 billion ◗ The issue of 700 title deeds over 2015 and the first half of 2016m and holding a further 1,200 title deeds for immediate issue to our esteemed clientele ◗ The completion of innovative landmark projects in the Cyprus market such as: ◗ 18-hole golf courses like the internationallyacclaimed Secret Valley Golf Club, part of the wider development of the Venus Rock Golf Resorts. ◗ Educational Institutions such as the International School of Paphos. ◗ Waterparks such as the Aphrodite waterpark. ◗ Commercial centres like the King’s Avenue Mall, the largest and

FREE OF HEAVY LOANS, THE COMPANY HAS ASSURED ITS ROBUST COURSE FOR THE FUTURE, ACQUIRING AN IMPORTANT COMPETITIVE ADVANTAGE

JULY 2016

The president and executive director of Aristo Developers group, Mr. Theodoros Aristodemou most modern commercial centre in Cyprus. The company’s priority is the environmentallyfriendly planning and construction of development projects, strictly adhering to the highest possible standards, while offering the best housing solutions to our clients. Aristo Developers Ltd proudly announced it had recently come to agreement with the Bank of Cyprus (BOC) for the complete repayment of all its loans, amounting to €283 million. The Aristos Developers Group successfully covered its dues by offering BOC real estate, valued by the bank’s evaluators as being worth €310 million. Nonetheless, the real

Venus Rock Golf Resort estate given to the bank in no way affects the company’s property portfolio or its ongoing projects - including the ambitious Venus Rock project - whose implementation following the arrangement with BOC seem all the more viable. Ulltimately, the Aristo Developers Group remains strong, holding over six million square metres of land, with development opportunities amounting to hundreds of millions of euro. With remaining real estate currently

valued at over €440 million and a total debt to other banks at €110 million, the net worth of Aristo Developers is over €300 million. With this agreement, Aristo Developers proves once again its promise of consistency and assurance to its customers that all property on sale is fully exempt of mortgages and other charges. Additionally, the Group offers the largest range of unencumbered real estate on the market. Thus, Aristo

Developers, free of a high loan portfolio, ensures its course in gaining a significant competitive advantage and aims at taking a leap forward, reaffirming its leading role in the development of the real estate sector in Cyprus.

JULY 2016

Tel. +357 26 841 800 8000 27 47 E-mail: info@aristodevelopers.com www.aristodevelopers.com

iHOME

Remarkable multi-level residential towers rising up to 82m The estimated completion date of the grand project by A. Athanasiou Group, located along the Agios Tychonas coastline, is set for November 2017

. Athanasiou Group inspires with its innovative project iHome, estimated to be completed in November 2017. An impressive and modern residential project

apartments and penthouses. The iHome is a unique project providing the highest standards of elegance and the experience of living in a stylish home with the amenities and services of a hotel. The two towers, reaching up to

located along Limassolâ&#x20AC;&#x2122;s Agios Tychonas coastline, just 100m from the Mediterranean Sea and in close proximity to upmarket shops and restaurants. iHome is a two-tower condominium of two-, threeand four-bedroom high-rise

JULY 2016

82 metres above sea level, offer perfectly-designed apartments with spacious verandas, covered private roof gardens and majestic sea and city views. This stunning residential project offers unobstructed sea views from all

apartments and facilities that include a gated entrance, a lobby area, a private gym, a swimming pool, a fullyequipped entertainment and lounge area and a private playground. Constructed with topquality materials and upholding the highest standards of safety, the iHome is built to ensure the well-being of every homeowner and their family. A. Athanasiou Group Chairman, Mr. Thanasis Athanasiou, explained his vision of the iHome saying: “we wanted owners to enjoy the highest standards of

JULY 2016

living in an environment that is, without a doubt, one of the most appealing and preferred in the entire Mediterranean region”.

Construction of iHome is well under way, and the project’s progress can be monitored online at: www.athanasiouprojects. com For more information, contact: A. Athanasiou Group at 80008383

LIMASSOL MARINA

BREAKING

the mould

TWO YEARS ON, THE GROUND-BREAKING DEVELOPMENT AND EXEMPLARY PROJECT CONTINUES TO DELIVER ACROSS A SPECTRUM OF MARKETS, WITH DEMAND FOR ITS UNIQUE "LIVING ON THE SEA" CONCEPT SHOWING NO SIGNS OF WANING

JULY 2016

LIMASSOL MARINA

Living on the sea

imassol Marina is continuing to make waves in the Eastern Mediterranean and has built a reputation as the most exciting new destination in the region. A milestone project for Cyprus, and the island’s first superyacht marina, it has already established itself as one of the most enticing intiatives across Europe. Located in the heart of Limassol, and surrounded by rich history and a diverse, international community, Limassol Marina offers 650 berths for yachts up to 110m, 211 luxury apartments and 74 exclusive villas, with private berths or direct access to the beach. It also combines fine dining and shopping establishments with an elegant spa and fitness club, as well as leisure and cultural facilities. New residents, new residences With property sales in excess of 230 miliion euros, Limassol Marina has now welcomed its growing community of home owners across the fully-completed luxury apartments and villas. Served by a central reception and concierge service, first-class facilities and 24-hour security, residences within the waterfront development provide an ideal second home or investment opportunity for a broad

range of property buyers. Introducing an unrivalled concept to the shores of Limassol, the Peninsula Villas are the only homes of their kind in the Mediterranean. Surrounded by water, they benefit from direct access to the beach or private berths attached to each individual property, epitomising the essence of ‘living on the sea’, just a stroll away from the city centre. Just months since their completion and delivery, 65% of the readyto-move-into villas have already been sold. The highly-anticipated Island Villas with private berths, some able to accommodate yachts of up to 40m outside their garden, are also due for completion by early 2017. More show villas will be available for viewing within the next few weeks. A new range of luxury apartments has also just been released for sale to meet increasing demand, with a record 60% reserved in under two weeks. The 29 sea-view homes at Nireas Residences are perfectly situated, just steps away from the sparkling Mediterranean, with uninterrupted views of the Marina. The one-, two-, threebedroom apartments and four-bedroom penthouses benefit from immediate proximity to both the city centre and the sea. They come complete with a communal swimming

pool, covered terraces, private parking and storage space, all adjacent to the development’s dining, shopping and leisure facilities. Apartments at Limassol Marina have already attracted buyers from over 18 nationalities. Of the 121 units delivered to date, there is only one remaining. It is no surprise Nireas Residences was

JULY 2016

such a welcome addition to the current availability. Commenting on their high demand and ongoing success, George Englezos, Sales Manager at Limassol Marina, re-affirmed that "these newly-released apartments offer one last opportunity for buyers to own a waterfront home at one of the most exciting marina developments in the Mediterranean. We

have every confidence that the unique product offering and excellent value proposition will be embraced with enthusiasm. It is rare to find a residential experience in such an ideal location and with such attractive pricing". Adding to the charm of these elegant homesâ&#x20AC;&#x2122; design and architecture, is their location just a stoneâ&#x20AC;&#x2122;s throw away from the heart

of Limassol. Residents can choose between privacy or community, taking advantage of the numerous facilities and services on offer, or simply staying cocooned in their own, luxurious surroundings. Be it fine dining, shopping, fitness, culture or leisure on demand, there is always something for residents to do, literally just steps away from their home.

JULY 2016

LIMASSOL MARINA

Full - service marina

eyond the luxury residences, the Marina itself offers facilities and services of the highest standards, with the renowned stamp of Camper & Nicholsons Marinas behind the management and operations. Every berth, for vessels from 6m to 110m, has access to fresh water, electricity, fibre to the boat, highspeed wireless internet and telephone, fuel and waste removal. There are also haul out and shoreside technical facilities, a 100-tonne travel lift and 40-tonne trailer slipway, fuel station, helipad and boatyard for light repairs and maintenance. When the first superyacht sailed into Limassol Marina back in 2013, few could believe that this would be the beginning of a new era for Cyprus. M/Y Anastasia made history as the largest vessel to enter a marina on the island. Peering over the lighthouse, her slick 75m claimed their position along the south-eastern breakwater and changed the dynamic of Limassolâ&#x20AC;&#x2122;s most ambitious waterfront development forever. The shores of the vibrant Mediterranean city have since been frequented by a string of distinguished guests. Just

EXUDING CHARM IN AN UNRIVALLED ENVIRONMENT, IT OFFERS THE PERFECT BLEND OF LUXURY AND ELEGANCE, COMFORT AND CONVENIENCE, PRIVACY AND COMMUNITY time visitors, 88.5m M/Y Nirvana and 99m M/Y Madame Gu and 72.6m M/Y Queen K, were followed by 119m M/Y A. And these are just a handful of more than

recently, four of the most prestigious superyachts in the world used the services and facilities at Limassol Marina, the only superyacht marina on the island. Second-

JULY 2016

50 superyachts to have visited or signed longterm berthing agreements with Limassol Marina since its official opening. A vibrant destination Now just over two years in operation, Limassol Marina is one of the most talked-about projects to have ever materialised in Cyprus, attracting an average of 3,000 - 4,000 visitors daily and boasting an active calendar of events throughout the year. Exuding charm in an

unrivalled environment, it offers the perfect blend of luxury and elegance, comfort and convenience, privacy and community. An exciting new destination for living, yachting, dining and shopping, it offers a

to a luxury spa and gym, they also have a boutique mini market, bank, pharmacy and car-rental service on site, complete with designer shops like Ralph Lauren and Zilli, international Halcyon Gallery, Shiraz carpet art and world-famous jeweller, Graff. For the yacht owners, captains and crew, a fully-stocked chandlery, show room, yacht brokers and agents of all top brands are also based in the commercial area, adjacent to a listed cultural centre.

complete mix of products, facilities and services for everyone’s convenience. With the word ‘lifestyle’ at the pinacle of everything the development aspired to during its planning, not only do residents and visitors have access

JULY 2016

The shareholders of Limassol Marina Ltd are: Joannou & Paraskevaides Ltd, J&P-Avax S.A., Francoudi & Stephanou Ltd, Cybarco Limited, LMDC Services Ltd, Athena S.A. and CADS Holdings Ltd. For information on the apartments, villas and berths at Limassol Marina, or to book a private viewing of the residences, contact 25 020 020 or visit limassolmarina.com

Î&#x;LYMPIC RESIDENCE

Embraced by the sea and the sky 36

JULY 2016

THE OLYMPIC RESIDENCE - OR THE ‘TWIN TOWERS’ AS THEY HAVE BECOME KNOWN - HAS QUICKLY DEVELOPED INTO A POINT OF REFERENCE THROUGHOUT CYPRUS. CONSTRUCTION COSTS WERE €80 MILLION AND CONSTITUTE THE FIRST LARGE PROJECT THAT HAS BEEN COMPLETED. THE OLYMPIC RESIDENCE BELONGS TO THE OLYMPIC ENTERPRISES CONSORTIUM, MADE UP OF MARFIELDS ENTERPRISES AND DANIEL BV AND OTHER FOREIGN INTERESTS

THREE PENTHOUSES AWAITING THEIR OWNERS

All the apartments have already been sold, apart from three of the eight penthouses which have an endless view of the sea and stars. These luxurious penthouses, which are between 480 sq. metres and 1,000 sq. metres are on the 16th and 20th floors. Like the apartments, the penthouses offer all modern comforts and have been constructed in accordance to the highest standards of quality and safety. Staying at the Olympic Residence is a unique experience, given the swimming pools, jacuzzi, tennis courts, an impressive spa with Roman baths, an ultramodern gym, a beauty salon and much, much more. On the ground floor, opposite the sea, one finds the Como with its delightful gastronomic treats, while exclusive boutiques and shops are situated right next door.

JULY 2016

ΟLYMPIC RESIDENCE

A vacation like never before

taying at an impressive building like the Olympic Residence is not out of one’s grasp, as a number of apartments are available for short-term or long-term letting. “The new condominium trend is offered by Olympic Residence for those who wish to live this unique experience, enjoying the services of a five-star hotel,” states Managing Director of Olympic Residence Management, Demetris Tsangaras. Customers enjoy the same Managing Director of services as tenants, having Olympic Residence access to the swimming Management, Demetris pools, gym and beauty Tsangaras salon.

JULY 2016

olympicresidence.com Sales and reservations: sales@olympicresidence.com Tel: +357 25247000 Fax: +357 25247100 353, 28th October Street 3107 Limassol

JULY 2016

CENTRAL PARK RESIDENCE

Olympic Residence’s ‘small brother’ in Nicosia

ollowing the huge commercial success of the Olympic Residence in Limassol, Marfields Enterprises has decided to expand to Nicosia by constructing the Central Park Residence, expected to be completed in 2017. The project, estimated at €40 million, is set in the area of the old GSP Stadium, and fulfills the two criteria which determine an investment: practicality and value. The Central Park Residence is a mixed development (commercial, residential and services), including luxury two- and threebedroom apartments and penthouses with breathtaking views. It will also feature a beauty salon, spa and a gym. Within close proximity to most of the state services, ministries, embassies, commercial roads and banks, the residents of Central Park Residence will benefit from the competitive advantages of living in a centralised but quiet area. The project fulfils the strictest quality and safety standards by employing the latest innovative, automated and energyefficient systems. marfields.com Τel +357 25247000 October 28th 353

JULY 2016

PARKLANE LUXURY COLLECTION RESORT & SPA

â&#x201A;¬70-Million investment in former Le Meridien hotel

The hotel entrance

JULY 2016

PARK LANE LUXURY COLLECTION RESORT & SPA, LIMASSOL’S NEW HOTEL, WHICH WILL TAKE THE PLACE OF LE MERIDIEN – AND WHICH IS BEING RENOVATED FROM THE GROUND UP AT A COST OF €70 MILLION - PLANS TO OPEN ITS DOORS TO THE PUBLIC TOWARDS THE END OF 2017

JULY 2016

PARKLANE LUXURY COLLECTION RESORT & SPA

Something more than a hotel

ARKLANE Luxury Collection Resort & Spa is set to open its doors to the public at the end of 2017, in place of Le Meridien. And it’s not only the name that’s changing, but everything else as well, as demanded by Roman Nikitin, major shareholder of Emerald Coast Properties that owns 75% of the hotel that was part of the Galatariotis Group. PARKLANE Luxury Collection Resort & Spa will be part of the Luxury Collection, the international Starwood Hotels & Resorts (Marriot International) chain. It will have 53 suites, each with a private swimming pool, as well as 222 rooms, 10 restaurants and bars, a 2,000-square-

Costas Tseriotis, CEO of holding company L’ Union National

In place of Le Meridien, Roman Nikitin wants to create the best hotel in Cyprus and one of the finest in the world

visitors will want to stay and enjoy personalised services. Six hundred and fifty highly-trained associates will offer quality and friendly service,” says Costas Tseriotis, CEO of holding company L’ Union National.

metre conference hall, four indoor and outdoor swimming pools, a spa with suites for Russian baths, a children’s playground with a lake and a children’s restaurant. “Our vision is to create the top luxury resort in Cyprus, where

There will be 53 suites in the new hotel

JULY 2016

One of the indoor swimming pools

The childrenâ&#x20AC;&#x2122;s playground, The Princess & the Pirate, will offer a castle with a lake and a pirate ship, as well as water games and a kidsâ&#x20AC;&#x2122; restaurant

The logo of the new hotel with a clear reference to the Cypriot element

JULY 2016

THE OVAL

A PROJECT BY CYBARCO, WHICH FURTHER ENHANCES LIMASSOLâ&#x20AC;&#x2122;S IMAGE AS AN INTERNATIONAL BUSINESS CENTRE

A landmark building

JULY 2016

THE OVAL The Oval (photo, June 2016)

Situated in the heart of Limassol, just 100m from the sea The Oval sets new standards in the business world. Sales and reservations of The Oval have already exceeded 65% 48

JULY 2016

he Oval is a landmark structure that will further enhance Limassol’s image as an international business centre. Located just 100m from the sea, The Oval will be the tallest commercial building in Cyprus, reaching 75 metres high and consisting of 16 floors with uninterrupted sea views. Construction of The Oval is progressing rapidly, with the concreting process of the building’s skeleton already complete, and the metal frame of the shell structure on its curved exterior now under way. This, along with the formation of the interior areas also in progress, marks the countdown to the completion of The Oval’s construction in April 2017. The success of this unique project has been proven by the impressive rate of sales and reservations, which have already exceeded 65% Each of the 16 floors have uninterrupted sea views, together with a flexible open-plan design that can meet the requirements of every business. Located on

the fifth floor of The Oval, the most iconic show office in Cyprus is now available for viewing by prospective clients and investors. Designed to exhibit the ultimate in luxury and quality, offered by both the space itself and the construction of the building, Cybarco’s show office reflects the uniqueness and functionality of an exclusive

highly-innovative manned reception lobby on the ground floor. The Oval will also feature beautifully landscaped gardens and a cafeteria, as well as a variety of services such as property management, a 24-hour security service, controlled access to the building and two underground parking areas. With an A-rated energy performance

THE SUCCESS OF THIS UNIQUE PROJECT HAS BEEN PROVEN BY THE IMPRESSIVE RATE OF SALES AND RESERVATIONS, WHICH HAVE ALREADY EXCEEDED 65%

working environment. The pioneering development’s unrivalled location, innovative design and exceptional interiors are the perfect complement to the state-of-the-art systems tailored for companies wishing to stand out. The building’s impressive exterior is complemented by an exclusive and

certificate, this project is a sustainable development using geothermal energy to minimise carbon emissions. Internationally-acclaimed architects Atkins, in collaboration with WKK and Armeftis & Associates, have designed this landmark project with a distinctive shape that stands out in every sense.

Show office of The Oval

JULY 2016

CYBARCO

Exceeding Expectations

ybarco, a member of the Lanitis Group of Companies, was established in 1945 and has since grown into one of the largest construction companies in Cyprus. During the 70 years of its distinguished and successful history, it has also gained a reputation as the island’s leading luxury property developer. Cybarco is

people, are all values that contribute to Cybarco’s solid foundations and continual growth. Through its diverse portfolio and broad spectrum of activities, Cybarco aims to continue

responsible for numerous landmark luxury projects both domestically and abroad, including iconic real estate developments such as Akamas Bay Villas, Sea Gallery Villas, The Oval - the highest commercial building in Cyprus - and Limassol Marina - the first mixed-use marina development in Cyprus. Innovation, quality, a customer-oriented approach and commitment to its

Sea Gallery Villas

CYBARCO’S SOLID RELATIONSHIPS, ITS REPUTATION FOR QUALITY AND INTEGRITY, ITS DEDICATION TO ITS CUSTOMERS, AS WELL AS ITS DEEP-ROOTED VISION, ARE KEYS TO ITS SUCCESS Berth-side, Limassol Marina Villas

JULY 2016

creating projects that positively impact living and working in Cyprus. Cybarco’s solid relationships, its reputation for quality and integrity, its dedication to its customers,

as well as its deep-rooted vision, are keys to its success. Cybarco has remained loyal to its strategy of carefully combining essential elements – such as privileged and desired locations, a careful design approach and quality in construction – to create the right product, at the right price, in order to meet the expectations of the company’s clientele. The increased interest by investors in Cybarco’s projects, as well as its recordbreaking sales of luxury properties, proves that organisations implementing careful strategic planning and offering projects that not only excel in quality but also in design and functionality, can be confident of a positive future. A testament to the above is the sale of all properties at Sea Gallery Villas in Limassol, as well as the increase in sales at Akamas Bay Villas on Latchi’s seafront. Both these projects confirmed that location, quality and reliability can overcome any challenges. Based on the above features, Cybarco has recently released two luxury villas at the Aphrodite Hills Golf Resort. Limassol Marina also provides ample evidence that product and reliability are integral to the success of developments in Cyprus, given there has been over €240-million-worth of sales of apartments and villas with private berths or direct access to the beach. Meanwhile, the Oval, a new landmark office building in Limassol, is yet another ground-breaking project

Akamas Bay Villas

Villa Levanta Aphrodite Hills Resort

for the company itself, they are also vital to the country’s economy, especially during the current climate, as they decrease unemployment and create hundreds of new jobs. Furthermore, such projects attract foreign capital and strengthen Cyprus’ infrastructure, thus increasing its economic competitiveness.

boosting momentum in 2016. Its sales have exceeded initial projections and targets as 65% of the building is sold and reserved- demonstrating that trust in the real estate market is slowly but firmly returning. Over and above the significance that projects of such magnitude represent

JULY 2016

Cybarco.com Tel: 8000 5030 facebook.com/ Luxury.Cyprus.Property youtube.com/ CybarcoLtd Address: 10 Tefkrou Anthia Street Dhali Industrial Zone 2540 Nicosia, Cyprus

ONE

37 floors of perfection Limassolâ&#x20AC;&#x2122;s skyline is set to be defined by Pafiliaâ&#x20AC;&#x2122;s ambitious new project in constructing the tallest seaside residential building in Europe. The One, recognised from every corner of the city, is expected to be the tallest building in Cyprus 52

JULY 2016

he project, earmarked to be a flagship for Cyprus, is situated on October 28 Avenue, and will change the picture of Limassol, strengthen the role of the island as a destination for foreign investment and place the Republic on the luxury real-estate market map. These reasons have contributed to the projectâ&#x20AC;&#x2122;s

THE ONE WILL CONSIST OF 83 LUXURY HOMES, WITH THREE APARTMENTS AT EACH LEVEL. EACH APARTMENT WILL HAVE AN UNINTERRUPTED VIEW OF THE OCEAN

name, which upon completion will be unique. The One will consist of 83 luxury homes, with three apartments at each level. Each apartment will have an uninterrupted view of the ocean. The apartments have an interior design stretching from one side of the building to the next, offering an amazing view of Limassol and the Troodos Mountains. Internationally-acclaimed architects, draughtsmen and engineers are behind the detailed design, as well as the interior decoration, and include Atkins, WKK, HBA, and Burohappold Engineering. Respect is the strong foundation to which the designers adhered in the creation of this remarkable,

JULY 2016

unique and authentic ONE. The structure of the building, its details and finish lend additional advantages to its location. Construction work, including the clearing of the site, excavations and the construction of a perimeter wall around the building area started on March 21, 2016. The ONE is expected to be completed by December 2018.

www.pafilia.com Nikodemou Mylona str. 33, 8101, Paphos Tel: +357 26 848 800 Fax: +357 26 934 910 info@pafilia.com Tel. 8000 89 89

INTERVIEW CHRISTOS MOUSKIS

Small restaurants and a café on the sea By creating small restaurants, a café and other forms of recreation on the sea, Limassol could be further upgraded into a tourist destination, thereby attracting visitors with high expectations, claims hotelier Christos Mouskis. The executive director of Muskita Hotels shares his vision for Limassol, explains what bothers him and speaks for the first time about the 10-storey Four Seasons Residence development presently under construction, which will offer luxury apartments and suites

he Four Seasons Residence development, under construction by the Four Seasons Hotel, will boast its familiar café and the remaining 10 floors will house ultra-modern apartments and suites. The project is expected to be completed by March 2017 Are the apartments for sale? Yes, part of the building will offer apartments and they will be available for purchase via long-term payments. When will they be ready? According to schedule, they should be complete by March 2017. Is there a demand for this type of development? There is a big interest in this project from current clients who would like to have the hotel’s services at their apartments. These are individuals aware of the consistently high level of services that the Four Seasons offers. Have the incentives for additional construction been effective? The incentives given by the

the investor withdrew his interest. How is it possible for a serious investment to proceed when the investor doesn’t know when the project will start or finish? These are some of the basic problems and it’s a shame we’re still at this level of inefficiency. If any private enterprise were to operate this way, it would go bankrupt in a very short period of time. People

government have yielded results. They have offered a boost to a number of projects, some of which have commenced. Bear in mind that the incentives are not limited to hotels. What other incentives should be given? For tourism? For tourism, and in general. We have for years now been saying we should solve the

THE INCENTIVES OFFERED BY THE GOVERNMENT HAVE YIELDED RESULTS AS THEY HAVE BOOSTED THE NUMBER OF NEW PROJECTS IN OPERATION

damaging our country with their attitudes should be removed from key positions as quickly as possible. Following the completion of the Marina, what, in your opinion, is the infrastructure project which will give Limassol, and Cyprus as a whole, additional value as a

problem of red tape. We have a serious problem with procedures which in essence prevent foreign and local investment. I speak from experience. We had contacted a foreign investor to construct a remarkable tourist project. When we discussed the timeframe needed for completion,

JULY 2016

tourist destination? The Marina added value to Limassol. It created a new centre of attraction for the city. The coastal road now leads to a destination, to a centre called ‘The Marina’. Its creation has helped a lot. What Limassol needs, something which has been improving over the last few years, is uniformity with regards to restaurants and shops, especially along the coastal road where the cluttered lack of aesthetics is evident. All of this will happen when the political leaders of the city really start to believe in tourism. With their initiative and our help, we will be able to accomplish what we owe our city. There’s a lot of talk that our tourism industry is old and outdated. As manager of two of the best hotels in Cyprus, what do you think we should do? We should embark on subtle developments on the sea in order to create a reliable brand that will set us apart from other destinations. For example? We can create wharfs running parallel to the

PHOTO: ANTONIS G. ANTONIOY

beach so people can walk over the water, very much like the wharfs that Limassol Municipality constructed at the Backfill Park. We could gradually construct a wharf from the backfill to the Le Meridien Hotel, passing over the rocky outcrops, with a small café and restaurants for entertainment. With careful planning and lighting, the project would surely upgrade the city and draw a higher standard of tourism benefiting all the businesses and generally allowing for the gradual development of shops, restaurants, and so forth. Organised beaches should also be developed, to draw a four-star rating as opposed to the present two-star rating. The private sector is willing to invest in this, pending the granting of licences. Is the sun and sea model no longer valid? What should we focus on? Sun and sea are the basic factors for someone deciding to go on vacation. There are many destinations which offer sun and sea, but the most successful are those that have managed to enrich their visitors’ experience by highlighting their strong points. These could be natural sights, theme parks, embellished tourist areas, and so forth. We don’t exhibit leadership in tourism and rely on the efforts of the private sector. We need to offer our visitors good experiences both in and out of our hotels. In this, the local authorities play an important role. They, as well as the new agency undertaking the creation of a new ‘tourismfocused Cyprus’, need to

"Leaving a five-star hotel, tourists suddenly find themselves in two-star surroundings," states Mouskis, who says most of the island’s tourist areas lack the infrastructure to support the services offered by hotels their first visit here the reason for choosing Cyprus as a holiday destination, most of them reply it was recommended by friends or family who had already visited the island. Unfortunately, Cyprus does not have a definitive tourist profile and position in the

be informed and educated according to the new plan which is being prepared. I hope this one, the fourth if I am not mistaken, will be adopted - at least in part. Do we have many repeat visitors coming to Cyprus? Yes, approximately 35%. When we ask clients on

JULY 2016

European market and relies on these repeat visitors as its most reliable advertisement. What are the challenges the Cyprus tourism industry needs to face? We have competitors that can offer more than us and at cheaper prices, too. We don’t have the

INTERVIEW CHRISTOS MOUSKIS The Four Seasons Residence development, under construction by the Four Seasons Hotel, will boast its familiar café and the remaining 10 floors will house ultra-modern apartments and suites. The project is expected to be completed by March 2017

infrastructure to support the services offered by the hotels. In most tourist areas, a tourist can leave a four- or five-star hotel and find himself in twostar surroundings. The infrastructure, which is the responsibility of the local and state authorities, doesn’t support the hotels’ infrastructure. The private sector has contributed immensely, but has not had any support. As an industry, we have done everything in our power to help. Another serious problem in not

WE NEED TO SOLVE THE PROBLEM OF RED TAPE. THOSE DAMAGING OUR COUNTRY WITH THEIR ATTITUDES SHOULD BE REMOVED FROM KEY POSITIONS I agree. We are in a better situation due to improved infrastructure, especially in the Limassol Municipality area, and because of private sector-initiated projects

having a ‘branded product’ is that we rely heavily, about 70%, on two markets: Russia and the United Kingdom. Nonetheless, Limassol has changed.

JULY 2016

which have significantly upgraded the city. Unfortunately, old buildings in need of renovation still exist alongside the new; the coastal paths need maintenance. There isn’t a person who inspects and takes decisions to solve problems in the tourist areas. There has been an improvement and we want, and can transform this city into one of the Mediterranean’s most beautiful, so why should some bad attitudes stop us?

INTERVIEW

"Quality is one thing, luxury another" Architect Georgios Stamatiou suggests Cypriots should be given incentives to buy luxury apartments

own planning incentives that have been announced for construction will definitely influence the architecture of Limassol, notes architect Georgios Stamatiou, stressing that the market targeting this type of development has very high economic standards, which should result in the creation of high-quality and aesthetically-rich buildings which will definitely upgrade the level of architecture in Limassol. “Naturally, we must be cautious; quality is one thing, while luxury is

“The Town Planning Department has prepared studies for this area, and with the right planning a new upgraded area can be created by replacing existing industries with high-rise buildings and parks.”

another; something that is luxurious does not necessarily mean it has quality,” explains Stamatiou. Asked if a new city is being constructed, Stamatiou suggests Limassol’s skyline can change for the better with tall buildings which will need to be surrounded by parks and recreational areas in order to raise the quality of life level in the areas in which they will be built, adding: “the location of these buildings requires a lot of thought if they are to be built within the existing building framework and should be concentrated in large areas along the coastline and in the area between the old and new port.

A Buyer’s Profile Stamatiou is concerned whether these buildings will eventually be inhabited or left empty and unused by their owners. Interest in these types of developments is mainly from foreigners who wish to invest over €2.5 million for an apartment in order to obtain a Cypriot passport. “What happens next? Will they live in the apartment or will

they treat it as a dormant investment?” he asks. Perhaps the concerns regarding the fate of these buildings will prompt the government in studying the possibility of giving incentives to Cypriots to be able to purchase such properties at prices closer to the local socioeconomic reality, in order for these buildings to be inhabited and enjoyed on a permanent basis by their owners. “I hope in future Limassol will have tall buildings incorporated into the social framework of the city and that they will be living architectural examples and not tall, dead monuments,” concludes Stamatiou.

REPORT

The new Limassol will be built between the Marina and the Port Industries will make way for residential, office, tourist and commercial development

imassol’s old industrial estate, a large area on the western side of the city between the Marina and Port, which has been largely downgraded, will be unrecognisable in a few years. The intrusive wineries, brickyard and other small

developments will affect the general city landscape, and the second is centred on the ‘dark window syndrome’. The phenomenon of empty, unused and perhaps abandoned property purchased by investors for any reason other than to live in them and to integrate into the local society. It is a phenomenon that has begun around some of the skyscrapers abroad. These discussions are taking place in Cyprus, with the Cyprus Architects’ Association, The Cyprus Scientific and Technical Chamber (ΕΤΕΚ) and the Town Planning Department agreeing that the rapid

Christou, it is expected to be approved shortly. The concentration of many tall buildings in a particular area, and perhaps in this specific one, is considered by some as a good solution to prevent any negative impact that a lot of tall buildings will have in the city. The issue is a subject

ARCHITECTS, ETEK AND TOWN PLANNING DEPARTMENT AGREE PLANNING IS REQUIRED FOR A COMPREHENSIVE POLICY ON TALL BUILDINGS industries have completed their lifecycle in the area and are making way for development at extremely attractive prices. According to Limassol Mayor Andreas Christou: “it concerns a huge area, which has an astonishing number of listed buildings, and which can house residential, office, commercial, recreational and hotel development”. The Municipality, in cooperation with the Town Planning Department have conducted a study of the area and, according to

of public debate at an international level between experts, and the public in general, presenting the pros and cons in the trend of constructing tall buildings which has existed in the last few years. The incentives which governments offer to attract investors to counter the effects of the economic crisis have been successful in a series of cities such as London, Dubai and Moscow. Concerns have been raised on two issues; the first is how these

JULY 2016

development in the construction of tall buildings in Cyprus has caught the state and the public unawares as how to confront the issue. This was revealed in a recent seminar on Limassol organised by ETEK. “The density in urban centres and the need to create sustainable cities is a basis for consensus; however, the conditions under which it can be achieved by focusing on the development of height, raises concerns for the correctness or otherwise of the citing policy for the establishment of ‘tall buildings’ in the cities of Cyprus and finding the appropriate framework

through which the new type of buildings could add value, both to the Cyprus urban landscape, and the inhabitants’ quality of life,” says Christos Christodoulou, president of the Cyprus Architects’ Association. Stelios Achniotis, president of ETEK, poses the issue of the parameters of a uniform and holistic approach to urban planning which should be based on three basic principles: containing urban diffusion, the involvement of local communities in the planning and promotion of sustainable mobility. “The question is: to what extent do tall buildings contribute in this direction and under which terms and conditions on an environmental and topological level?” Architect and Town Planning Department senior official Georgios Hadjimichail says the issue is fairly complex, demanding proper regulation and management, which can bring with it not only advantages and benefits, but problems, too. Hadjimichail says the following questions should be addressed before a specific area is designated for tall buildings: which part of the city, for what reasons, how high, what type of construction, how many buildings and under what prerequisites.

NOBLE CENTRE

Inspired by nature and mythology LOCATED A A AT ONE N OF THE BUSIEST JUNCTIONS N N OF LIMASSOL, MA NOBLE CENTRE IS A LANDMARK DEVELOPMENT BY IMPERIO. THESE SPECTACULAR OFFICES OFFER STUNNING VIEWS OF LIMASSOL, THE ACROTIRI BAY AND BEYOND, AS WELL AS, A HOST OF RESIDENTS' FACILITIES INCLUDING THE OLIVE GARDEN ROOFTOP TERRACE. THE TERRACE FEATURES SPECTACULAR VIEWS WHILE ENGAGING CLIENTS AND MOTIVATING STAFF ON THE BUSIEST DAYS.

JULY 2016

NOBLE CENTRE

A place to enjoy work

he newlydelivered Noble Centre is one of the most eye-catching buildings in Limassol and stands out prominently on the city’s skyline. A landmark located on the junction of Spyros Kyprianou Avenue and Omirou, it combines superior architectural design and state-of-the-art technology that offers a refined touch to Limassol’s business environment. Designed with innovative facilities, it provides unique spaces with contemporary glass facades. These soundinsulated surfaces transport you far from the hustle and bustle of Limassol, even while you remain right at the heart of it. This stylish tower consists of over 2,000 sq. m of contemporary office space, and three levels of generous parking. From almost every floor, one enjoys breathtaking views of Limassol, the Mediterreanean Sea, Akrotiri Bay and beyond. A swathe of greenery cuts through the very core of the building, drawing light and life into every office space, and creating a positive feeling crucial for the proper and efficient functioning of a team. The ‘Vertical Garden’ also contributes to the premises’ better energy efficiency. Another notable feature of the Noble Centre is the ‘Olive Garden’, the garden on the roof of the building which is surrounded by olive trees. This offers a

private rooftop club space, inspired by the olive groves for which Cyprus is famous, and providing magnificent views. Besides being a recreation and relaxation area, it is a source of rejuvenation and creativity for both employees and guests. The Olive Garden is the perfect place to work or meet during the day, or relax in the evening and watch the sunset. After all, the olive trees adorning the space, beyond embodying

perfectly suited to Limassol’s longstanding reputation for cultural sophistication, and to Noble Centre’s contemporary architecture,” says Imperio Director Yiannis Misirlis. “Besides, there’s a global enthusiasm for contemporary art, and Imperio is dedicated to making our clients feel embedded in the art world.” The artist, Christopher Christou, was inspired by the Greek myth whereby the goddess Athena caused

The unique and original lighting design of the building, meanwhile, depicts a rain of illumination, demonstrating the philosophy behind the building’s architecture. Besides its sense of style, such lighting highlights the architectural lines of the building, which were designed to achieve a high energy efficiency. “Noble Centre was designed to allow flexibility in usage and internal

the freshness of nature, also symbolise prosperity, fertility, victory and wisdom. Imperio adds a cultural heft to its latest masterpiece in Limassol, by including a piece of contemporary sculpture in the Noble Centre’s public spaces, openly exhibited and thereby adding to the culture and contemporary architecture of Limassol. “The sculpture is

an olive tree to arise by striking her spear into the ground. The spear is a symbol of immortality, wisdom and peace. Yet the art at Noble Centre does not stop here, but continues in the interior of the building’s entrance. Countless metal butterflies created from recycled materials are attached to the large, imposing tall wall entry, presenting us with a striking image.

layout, energy efficiency, and at the same time to create an enjoyable workplace. The use of vertical and horizontal blinds irregularly arranged, along with the insulating panels on the façade of the building allow the project to offer different interior layouts without affecting its façade,” explains building architect Pavlos Antoniades, of antoniades + eleftheriou UDS Architects.

JULY 2016

IMPERIO PROPERTIES

Imperio has redefined modern living

mperio is a one of Cyprus’ most reputable and awarded property development and management firms. It specialises in the design, construction and marketing of contemporary apartments, maisonettes, townhouses and golf villas, as well as office and retail developments. Imperio has redefined modern living in Limassol over the past few years, creating award-winning properties that offer a sophisticated lifestyle, superior design and incomparable value. With its remarkable properties, Imperio has achieved an enviable portfolio of success stories, which are the foundations of its reputation for delivering quality based on the high specifications built into every property. Since its establishment, the company’s goal has been unequivocal: to design and create worthy properties, each offering something unique and distinctive, for the benefit of society at large. Imperio’s achievements are an accurate reflection of the collective inspiration of a young, dynamic and forward-thinking team. Imperio’s business activities began in 2004 in Limassol. Ever since then, the company has remained focused on the design and construction of properties within the district of Limassol. The

only exception is the development of golf villas at the Aphrodite Hills Golf Resort in the district of Paphos. To date, the company has successfully completed and delivered over 20 residential complexes and three commercial projects. Each creation bears Imperio’s signature: an architectural design of eye-catching contemporary style. Over the years, Imperio has conscientiously maintained its commitment to high quality construction, settling for nothing but the best, as well as using the latest construction materials to deliver high-specification residential and commercial units. Visibly unrelenting perfectionism is clearly noticeable in the attention to even the smallest details – which is ultimately what draws selective customers with an extensive wish list to Imperio’s properties. In order to guarantee the highest construction quality, Imperio’s experienced technical staff carefully screen and inspect construction companies and suppliers, before establishing any form of cooperation. This is followed by the conscientious supervision of every project from start to completion.

Imperio's Directors Yiannis and Antonis Misirlis

SERVICES Imperio offers its esteemed clients a wide range of services, ranging

JULY 2016

SINCE ITS ESTABLISHMENT, THE COMPANY’S GOAL HAS BEEN UNEQUIVOCAL: TO DESIGN AND CREATE WORTHY PROPERTIES, EACH OFFERING SOMETHING UNIQUE AND DISTINCTIVE, FOR THE BENEFIT OF SOCIETY AT LARGE from Property Management and Administration, to full Interior Design and Immigration services. INTERIOR DESIGN Imperio’s interior design team, which boasts both expertise and experience, is at the clients’ disposal. Thanks to its involvement in various projects and

differing styles of interior decor, the design team is well-equipped to transform the clients’ vision of the ideal living environment into a reality. Whether a single specific piece of furniture is required or a whole interior design proposal, the goal is to achieve the individual results which the client

seeks. In cooperation with suppliers of only the best materials and employing the most talented craftsmen, Imperio’s design team can thus ensure outstanding quality and unique results. Ultimately, Imperio’s designers are capable of turning dreams into reality as the company delivers properties of award-winning calibre that are aligned with each customer’s personal vision. Recently, one of Imperio’s special creations – Apartment 301 within Buena Vista Residences – was recognised as the apartment with the ‘Best Interior Design 2010’, not only in Cyprus, but

JULY 2016

throughout Europe, a title that built on an earlier award in 2009 for the ‘Best Apartment in Cyprus’. And Imperio’s awardwinning potential does not end here. Imperio also earned an award for the ‘Best Office Development in Europe’, granted to the company’s newly-delivered Noble Centre.

www.imperioproperties.com Tel. +357 25581005 Fax +357 25580205 131 Gladstonos Str., 3032 Limassol

TAKIS VASHIOTIS GROUP

VASHIOTIS BUSINESS CENTRE VASHIOTIS TRUST

Luxury and reliability TAKIS VASHIOTIS IS UNDERTAKING A NUMBER OF LUXURY PROJECTS ALONG THE LIMASSOL SEAFRONT, OFFERING RELIABLE COMMERCIAL AND RESIDENTIAL SOLUTIONS IN ONE OF THE MOST EXCLUSIVE AREAS OF THE CITY

JULY 2016

NEW PROJECT VASHIOTIS SEAFRONT VASHIOTIS IKOS CENTRE

NEW PROJECT VASHIOTIS JOHN - MARIE BEACH

JULY 2016

TAKIS VASHIOTIS GROUP

VASHIOTIS SEAFRONT Eight 650 mÂ² floors Offices and shops Due mid 2017

JULY 2016

TAKIS VASHIOTIS GROUP

VASHIOTIS TRUST

JULY 2016

TAKIS VASHIOTIS GROUP

VASHIOTIS JOHN - MARIE BEACH Sea view Four shops Eight luxury three-bedroom apartments Park Due mid 2018

JULY 2016

TAKIS VASHIOTIS GROUP

Sixty years on the frontline Timeless growth and development through major projects with guaranteed title deeds

JULY 2016

ased in Limassol, Takis Vashiotis Ltd was founded by the pioneering Takis Vashiotis as one of the largest land and residential development companies in Limassol. One of the company’s earliest projects is the well-known Vashiotis apartment block in Mesa Geitonia, the first private apartment block ever constructed. Takis Vashiotis continues to lead the company’s management team, consisting of family members, and supported by a large team of associates, including architects, civil engineers, office staff and sales department personnel. Over the last 60 years, Takis Vashiotis Ltd has distinguished itself among clients and associates by offering quality construction, consistency and support to its customers, both during and after the execution of its impressive projects. With responsible and measured steps, the firm’s impressive story continues on solid foundations, ensuring the company is economically sound and without a trace of risky investment, allowing it to guarantee title deeds

JULY 2016

and resolve all issues to the satisfaction of its clients. QUALITY SERVICE The unique and timeless experience of Takis Vashiotis Ltd is both a guarantee and security. The permanent and experienced team of technicians in all fields assures quality at all stages of development using the latest building techniques All the company’s projects utilise the best materials, and Da Noi products, a daughter company of the group and importer of kitchens, cupboards, windows, interior and exterior doors of the highest technology and from the largest manufacturers in Europe, guarantees quality and reliability. Additionally, the company’s experienced technical team offers reliable after-sales support.

Takis Vashiotis Ltd Spyrou Lambrou – Sterea Court No. Tel. 25 587 586 Fax. 25 586 270 Email: vashiotis@vashiotis.com.cy www.takisvashiotis.com.cy www.vashiotis.com.cy

ARTICLE

Requirements and opportunities in the making The potential development in the coming years will be concentrated mainly on the western districts of Limassol, as the eastern districts have already developed their own tourist and housing characteristics - although opportunities still exist

ANDREAS CHRISTOU, MAYOR OF LIMASSOL

he energy industry is another pillar of

development, while the next dimension in the city’s development will be centred on the so-called ’blue development’. The development of a city is influenced by its geographical location, and by its particular features and advantages, its history, the vitality of its inhabitants, but also its climate, pleasant coincidences, and international and regional developments, as well as its ability to utilise these opportunities. I believe Limassol has managed to accomplish this. It has established a common understanding at all levels among the social and economic partners involved in the growth of the city. The past 20-25 years have

been instrumental in creating the conditions for a broad consensus among the different social groups in our city, the City Council, as well as among commercial and social bodies. As a city, we wish to send out the message that we stand united or are very close to each other’s ideas regarding serious issues. This consensus, which in turn is reflected in the city’s elected bodies, is instrumental in achieving important goals. Our city remains, as it has for the past 20-25 years, reliant on some specific sectors for development, which includes tourism and International companies. Other important sectors for the city include the building industry which has to do with the residential and commercial needs of the city; the port, in other words, any development that has to do with the maritime industry; energy, which has been thrust into our lives by state and government as an important aim; the development of tertiary education and private medical centres. All these have resulted in a dynamic surge in our city. I would say the main element at this time is the fact that Limassol has, for a

number of reasons, become an important centre for international business, not only in the Mediterranean, but also in the European Union. The presence of powerful foreign financial groups has also created these potential conditions as well as those created by the national economy. I will not mention what we have managed to achieve until now; together we have achieved a lot, we have created an excellent cultural infrastructure, an infrastructure for a variety of social activities, we have created an environment where a foreign visitor and

JULY 2016

those who wish to establish their businesses in Limassol, encounter a combination of different uses, entertainment, recreation, cultural activities, and so forth. And mainly, we give the impression that we are in the broad sense of the word, hospitable. Limassol is a place where someone can establish his business; find good schooling for his children - from primary school to university; it is a place which accepts other people and nationalities and a place where one can socialise with the local population. The potential for

development, at least in my opinion, is concentrated in the western districts of Limassol because the eastern districts have already developed their tourist – residential character, although there are still possibilities. The western districts, from where the marina ends, right up to Lady’s

and the ability to handle the associated problems accompanying such a development, the City Council indicated it had no objections for further drilling to be conducted from this area for the benefit of the economy. Thus, the energy industry offers the city another focus for development. It has already profited a small section of the population having ties to the port, with 250 being hired, while houses, restaurants, taverns,

activities. The other is the area earmarked for the creation of a golf course, not forgetting a third proposal for the creation of a large tourist development. In my opinion, the close proximity of Lady’s Mile to the unique characteristics of the salt lake and the sea offers enormous prospects for the area. There is also

recreation and tourism and all other factors associated with the sea. For this reason, we have already started an effort to create artificial reefs, in which two vessels, purchased by the Municipality, have been submerged opposite the former Holiday Inn Hotel. Attempts are now being made to purchase a platform, which, instead of being left to rot, will be cleaned and submerged in order to create a tourist attraction. We are trying to

LIMASSOL IS A PLACE WHERE SOMEONE CAN ESTABLISH HIS BUSINESS; FIND GOOD SCHOOLING FOR HIS CHILDREN FROM PRIMARY SCHOOL TO UNIVERSITY; IT IS A PLACE WHICH ACCEPTS OTHER PEOPLE AND NATIONALITIES AND A PLACE WHERE ONE CAN SOCIALISE WITH THE LOCAL POPULATION

Mile - which we never forget, and will never abandon to anybody – are, in my opinion, the areas which have gained the most attention due to their environmental characteristics, their limitations and their advantages. That is why plans have been made for the construction of three major development projects in these areas that have immediate access to the Vertical Road. Probably the most attractive of these is to create a casino, conference centre and a number of related casino-related

craftsmen, workshops, and so forth have benefited from the presence of the company. It is an industry spin-off that unfortunately is lost. And we have lost all the industries that were once the glory of Limassol. The next dimension in the development of our city is the so-called ‘blue development’. As you know, with the Limassol Declaration, signed in 2012 when Cyprus held the presidency of the EU Council, in the presence of the President of the European Commission José Manuel Barroso, who was the initiator of this idea, the EU decided to exploit Limassol’s marine wealth for further uses, to benefit

potential for developing the area between the port and the marina. The first drilling by energy firm Noble in Block 12, with its welldocumented results, was initiated from Limassol’s port. Because we had a clear picture and the experience of how smooth and problem-free the drilling conducted from a small area in the existing massive available space of the port had been, when asked if the port has adequate infrastructure for the safe establishment of other such companies

JULY 2016

clean this area, which lies between the port and the marina, with funds from the European Union - because, as you know, the area has been used as a dumping ground by local industries - in order to create access and develop a second beachfront for the city. It is an area of great importance to us. We will also be creating conditions to further utilise the sea, for example, with the so-called ‘water taxis’, which are known and widely used overseas. These could reduce the congestion on our promenades by using the small ports located along the coast, from the Meridien Hotel up to the new port.

INTERORIENT

A €22-million diamond in Limassol’s new development stake The dynamism of the downgraded area is shown by the award that the Municipal Council gave the innovative development project

rastic changes are taking place in the area between the old and new ports in Limassol, which is expecting to undergo major development in the coming years. Interorient Navigation Offices’ five-storey building, at the junction of Franklin Roosevelt and Omonia Avenues, is an example of this dynamism. The building, located at the site of an old plastics factory, in an area filled with craftsmen, mechanic workshops, warehouses, and so forth, has contributed to the improvement in the quality of life, not only for workers, but also for the neighbouring community. The project, designed by architect Giorgos Stamatiou, shared the Limassol

Municipal Council’s first prize in development with Vakis Hadjikyriacou’s design for the Columbia Plaza complex in Agiou Andreou Street. Construction began in November 2007 and was completed in November 2009 at a cost of 22 million euro. The design of the building is based on, as far as it can be represented, the action of ocean waves. Surfaces of continuously-moving water along the building’s entrance offer an audible movement of water which is a feature tied strongly to the basic design concept of the building. The mass of glass which is the double elevator in the atrium of the building’s main entrance, which transports employees and visitors to the various levels, is in itself a journey through the site. The glass is horizontally framed with

wavy wooden sound-proofed flower gardens, offering, simultaneously, a contrasting yet harmonious blend of technology and nature, very much like ships on the ocean. The conference rooms on the first floor are fitted with the latest in audiovisual

JULY 2016

technology and, depending on their use, natural and artificial lighting is automatically regulated. The specialised, undulating soundproofed ceilings simultaneously achieve ideal acoustics and add to the feeling of motion prevalent

THERE ARE PLANS TO INTRODUCE LARGE WORKS OF ART INTO VARIOUS PARTS OF THE BUILDING. TWO PIECES BY VALENTINOS CHARALAMBOUS SYMBOLISING THE SUN AND OCEAN HAVE ALREADY FOUND A PLACE AT THE ENTRANCE AND ON THE TOP FLOOR VERANDA

throughout the building Apart from the comfortable and modern work area, conference rooms and wash rooms, employees can take full advantage of the Olympicsized indoor swimming pool and gym located in the basement. The covered outdoor and underground parking facilities are more than enough for employees’ needs, while also contributing toward lessening traffic congestion in the area. Some of the building materials were introduced for the first time in Cyprus, and chosen for their environmental behaviour with regards to energy, acoustics and low maintenance.

• The atrium at the centre of the building is covered by a raised roof, fitted with specialised high-tech solar panels, producing electricity used in the central heating and cooling systems of the building, as well as in the production of hot water and heating the swimming pool. The building’s energy needs are approximately 50% lower than permissible EU levels. • The building’s grey water is recycled and reused by supplying water to toilets. • The building is surrounded by easily accessible gardens with trees and plants found in the Cypriot countryside, such as olive trees, lavender, rosemary and thyme. To the north of the building, a landscaped area with a playground is open to the public.

JULY 2016

The creation of a new city

Τ YIANNIS ANTONIOU

he sea is nature’s gift to Limassol. It is the gate connecting her to the rest of the world, and the window through which her inhabitants gaze out towards the horizon. This important resource is the foundation of many economic activities, including trade, tourism and the services required for the optimal functioning of a harbour and port - prerequisites for developmental advancement. All these elements have made Limassol a centre for international trade and a second home to tens of thousands of people from neighbouring countries, from Europe and elsewhere, but especially from Russia who work and live in the city and contribute significantly to its economic development. Limassol is the centre of ship management in the European Union and fifth worldwide, a fact that makes it a headquarters for a large part of the international fleet sailing across the world. This characteristic, creating a demand for office space for hundreds of companies and housing for thousands of their employees, has contributed to the growth of the construction industry. Limassol’s blossoming over the last few years has been accompanied by urban projects which have highlighted the sea, especially along the western part of the coastline where the marina is the new focal point. The sea remains hidden along the eastern coastline, primarily due to development after 1974, when the city was called upon to carry the burden of economic

reconstruction. Meanwhile, Limassol has not remained unscathed by Cyprus’ economic crisis of the last few years. However, the momentum it has generated has allowed the city to attain enormous strength. The sea once again has played an important role in attracting investors. The Government’s decision to introduce incentives for the construction of multi-storeyed buildings, have been fundamental in creating the prerequisites for investment and construction advancements. Following the construction of the marina, many other large projects have started or are in the planning stages due to the high demand from investors, lured by the possibility of acquiring Cypriot nationality and, by extension, European nationality. Furthermore, a new city is in the making due to the rapid rise in the numbers of tall buildings appearing in Limassol. All involved have expressed their satisfaction at the dynamic growth of this market, without, however, hiding the problems. The construction of tall buildings with sea views is an integral part of enticing investment, but it does come with a price, warn architects and other organisations , who demand adherence to safety standards to minimise a negative impact on the city and its inhabitants. Ultimately, the construction of a new city is welcome, provided it respects the old city; therefore, let’s hope that this will be ensured by the authorities. yiannis.antoniou@phileleftheros.com

JULY 2016

Ads.indd 70

7/28/16 12:48:41 PM

Ads.indd 70

7/28/16 12:49:22 PM