Cyprus Developers News

Release of "Frozen" deposits from Bank of Cyprus through a property investment from Aristo DevelopersFollowing the news of the release of "frozen" deposits from the Bank of Cyprus, Aristo Developers is in position to offer large selection of investment opportunities to those interested in acquiring property in Cyprus.

The bill of AKEL to reduce residential and commercial rents from 15% to 20% for one year was enacted into law by the majority of the Cyprus parliament.The law was approved with 31 votes in favor ( AKEL , the Democratic Party EDEK Ecologists and Environmentalists) against one ( Zechariah Koulias ) and 20 abstentions ( Democratic Rally and MP Antonis Antoniou Nikos Koutsou ).

Three investment funds of Kuwait, have expressed keen interest for Cyprus investments after the recent contacts of the Cypriot delegation with the Arab country.In fact, a list of 30 projects which are in the final stage of implementation, ie they have final drawings, necessary permits and any other relevant plans were promoted in Kuwait.

PROTRACTED discussions on the immovable property tax (IPT) bill is stopping people from paying and could derail revenue targets, the government said yesterday, as it urged MPs to resolve the matter immediately.

In recent months there have been dozens of recorded property sales in Cyprus to foreigners, mainly of Arab origin investors who come from Egypt, Syria and Lebanon.Particularly Larnaca has gained investor interest from Arab descent investors.

The Government as well as Hermes are preparing for an international public tender for the expression of interest for the management of the premises of the old Larnaca and Paphos airports, which are adjoining the new airport facilities.

Investors from all over the world, primarily Asians and Americans, are stepping up their interest in purchasing properties in Cyprus and Greece. Real estate assets in Athens and the islands of Corfu, Crete and Rhodes have attracted plenty of interest from overseas investors in recent times.

The D. Zavos Group of Companies participated in the international property exhibition, Cityscape held in Cairo, Egypt.The Group presented its wide range of properties to interested buyers and partners with existing projects as well as projects which plans to develop soon.

D. Zavos Group has participated at the 77◦ District Rotary Conference which was held in Limassol and hosted by Cyprus Rotary.Participants were from most parts of Middle East, including Egypt, Lebanon, Jordan, Bahrain, United Arab Emirates, Armenia, Palestine, Sudan, Georgia and Cyprus.D.

The Leptos Group with its systematic upgrading and maximizing of customer service in its Information Offices , recently held a special staff meeting at the conference room of the Groups headquarters in Paphos.

The great success continues with the presence of Leptos Estates at international real estate exhibitions in various Middle East countries as well as the Gulf region, within the first month of this year with the participation in Cityscape Cairo, the largest Real Estate Exhibition in the area.

 After a 3 week strike, building contractors and the unions of construction workers have reached an agreement. Following numerous attempts to narrow the gap between the parties, Labour Minister Sotiroula Charalambous, submitted a new proposal which seem to satisfy all parties concernedThe proposal provides for the collective agreement to expire on June 30th, 2014..

The first property owners of Limassol Marina have had deliveries of their prestigious Cyprus property. Nereids Residences luxury apartments were delivered during the first days of 2013.The General Manager of the Limassol Marina, noted that “we deliver within schedules and we are particularly pleased that the Limassol Marina is among the property projects with the best sales in Europe. .

THE CABINET yesterday approved new immovable property tax (IPT), which exempts property of up to €40,000 at 1980s values, but also scrapped the tax-free threshold.This means that if a property was worth €50,000 at 1980 levels, the tax will be charged on the full €50,000 and not just the €10,000 difference.The bil.

Some Chinese property developers have plans to buy land in Cyprus or form joint ventures with local developers to build homes for Chinese people there, a source told China Daily."They are also interested in developing a exhibition center for Chinese exporters," said Christos Mavrellis, managing partner with Chrysses Demetriades & Co LLC, a law firm in Cyprus.

CYPRUS beat out Britain and France, coming in 23rd place in a list of 80 countries ranked according to whether they were a good place for a child to be born in 2013.The ‘where-to-be-born ‘index  was first compiled a quarter of  a century ago by the Economist Intelligence Unit as a light-hearted project but it says it has now earnestly calculated where would be best to be born in 2013.The q.

As housing becomes increasingly expensive, affluent and middle-class Chinese families are increasingly looking abroad for an ideal homeAt the recent Beijing International Property Expo, Wang Jing's eyes widened.

Construction workers are planning a new strike in the new year. The colelctive agreements not been signed, the contruction workers are planning a new strike by mid Januray 2013. 

 2012 was not a great year in property sales according to the Land Registry information and not only. On the contrary, a drop by 8% in registering new deeds is the overall result in property sales for Cyprus..

The construction works are underway, and progress is visible at the Limassol Marina where the first residents will soon be accommodated. Approximately 80% of the marine works are ready whereas 40% of the residential and general infrastructure projects are completed.

A unique project by Rotos Developers initiated construction works promising timely delivery. The Building Society consists of dormitories for students featuring a shopping mall, restaurant, cafeterias, bar, extensive sport facilities and beauty center.

Developers pleased with the granting of Permanent resident visa to foreign investors

Spain plans to offer Residency Visa to Property Investors

Foreign investment in the Cyprus Real Estate Market is serviced by various factors, while this period is marked by the Chinese property investors who are attracted by the benefits following a property transaction in Cyprus.

The construction industry came to a halt, following a decision of the Cyprus  construction unions' members to go on  a 48-hour strike on Thursday 22nd and Friday 23rd November. Cause for this first act of protest is the Employers’ refusal to renew or come into talks regarding the Collective agreements with the Construction Unions pending since 2010. Th.

WAYS of strengthening the growing ties between Paphos and China and possible problems faced by the town’s burgeoning number of Chinese investors were the focus of a meeting held at Paphos town hall this week.T.

The Board of FIABCI-Cyprus brought to the attention of the President of the Parliament the problems of the Cyprus Property Market and suggestions for confrontation.

A new research indicates that expensive property in Cyprus of over 2 millions, currently keeps the property market alive, especially in Limassol.

Gypscorton Trading Ltd is offering solutions from simple repairs to major building complex renovations, according to a statement by the company. We undertake projects of any size and nature in professional and commercial buildings, recreational areas, hotels, development projects, apartment buildings and private residences.

The Real Estate agents Antonis Loizou & Associates have extended their connections with China and have invited several real estate agents to visit Cyprus. "Your hospitality and the amount of 2800 Cyprus Properties for sale and the over 800 properties for rent which you have in your portfolio have impressed us" said Mr Sun Bao Zhong spokesman for the real estate agents from China.

Kanika Develoments, the Limassol based property developer, focuses on the Chinese market to attract Cyprus property investment from the Far East. Having employed staff who speaks the Chinese language and having already concluded partnerships with various partners in China, the company notes property unprecedented success in its efforts to report and awareness.

The Leptos Group have issued a statement that “Paphos is taking back the lead as the first destination on the Cyprus property investment market as well as in tourism”Despite the downturn in the property market in Cyprus during the first half of 2012, Paphos has shown a huge increase of 25% on the submitted sale documents with the Cyprus Land Registry department. Th.

Cyprus Land & Building Developers Association statement on extended reduced VAT and property taxes on transfer fees until the end of year 2012

Alexander Heights residential development of Lanitis Development Ltd