30% of buyers in luxury Cyprus development drawn from across the region
Dubai, United Arab Emirates: – Luxury developer, Leptos Estates has witnessed strong interest from MENA-based investors seeking to enjoy the Cyprus’ year-round climate whilst taking advantage of the country’s permanent residency programmes.
The latest high-end development along the west side of the city that is dubbed Europe’s new Riviera by Leptos Estates has seen sustained sales interest from Middle East buyers including investors from UAE, Saudi Arabia and Kuwait. Sales at the developer’s latest, high-end development Limassol Blu Marine, have now totalled €100M, 30% of which have been generated from buyers from the Middle East.
The luxury development is one of several taking shape over the past year including bespoke residential and shopping destination, Limassol Del Mar to the east and the new City of Dreams Mediterranean, to the west. At Limassol Blu Marine, the foundation of the first tower was laid in December and has already attracted interest from foreign investors and a large number of buyers of high-end apartments.
Limassol Blu Marine aims to establish the area as a prime location for new Cypriot and foreign companies dealing with innovation, technology and the finance sector. In addition to the Middle East, buyers from the UK, Russia and the Far East are being enticed by the cosmopolitan island that offers 300 days of sunshine and a permanent residency programme that allow for longer movement across the EU, post-Brexit.
Pantelis Leptos, Deputy President of Leptos Group of Companies, comments: “We are excited to be a part of this pivotal change in Limassol, contributing to the upmarket residential, business and leisure revival along the seafront. The infrastructure investments along this stretch will act as a major catalyst and drive the development of the area, at an unprecedented rate for Cyprus.
“Limassol Blu Marine is the only development that gives you the option to open an office and build a home here in one location. The uptick in sales we have seen at this development in recent months, particularly in the Middle East, is a reflection of how people are living their lives post pandemic, wanting somewhere with all round sunshine and a place worth investing in.”
Leptos Group’s Limassol Blu Marine will contribute significantly to the Cypriot economy and will be at the heart of Limassol, destined to be world-renowned address, a luxury destination for buyers to live, work, shop and dine. It will create a new prime location for the city and create jobs in both the construction and service industry. The Mayor of Limassol refers to the new Aktaia Odos area in which Limassol Blu Marine resides as, ‘a city within a city’; and is part of a wider master plan that will see over 1.5km of multimillion pound infrastructure investment, rivalling the regeneration of the French Riviera.
The luxury development offers a place for residential, business and pleasure purposes, all within the area of the city abuzz with change. Set in the heart of Limassol on the seafront, Limassol Blu Marine includes a selection of one, two and three bedroom apartments across three impressive towers named after ancient Greek Gods, all with panoramic sea views. The architecture by Benoy Architects – the experts behind Ferrari World Abu Dhabi and Westfield London – worked with Leptos Estates to design the landmark scheme that offers an unrivalled lifestyle in the heart of the new Riviera.
Each apartment offers carefully-planned interiors maximising on south facing views over the Mediterranean Sea and include open plan living, with large balconies, premium specification and interior finishes with smart home technology. Residents will also be able to take advantage of the elevated podium over the sea, which will host a spectacular 50-metre infinity pool, landscaped gardens, a double height gym, bistro and lobby with 24-hour concierge. A luxury health and wellness facility offering treatment rooms, sauna, steam rooms and a 25-metre heated, indoor pool also makes these apartments an exceptional place to call home.
The new neighbourhood of Aktaia Odos has been master-planned with state of the art residential and commercial properties, mixed with attractive tourism and leisure options that sit in green spaces, with bicycle lanes and pedestrian walkways. The area, in accordance with the strategy of CIPA (Cyprus Investment and Promotion Agency) is set to become a hub for international headquarters with some 14,000 new jobs being created.
Limassol enjoys a vibrant shopping district, nightlife and an array of cafes, bars and clubs to cater to all tastes. With a superyacht marina, Limassol Marina to rival the best in Europe, alongside historical sites and the backdrop of nearby Troodos Mountains. A thriving business hub, and in the midst of a major urban regeneration planned by the Municipality of Limassol, Limassol Blu Marine is positioned in front of Aktaia Odos, an area that includes Limassol Marina, My Mall, Dubai World Cruise Terminal and an international championship golf course. A one-bedroom apartment at Limassol Blu Marina is available from €655,000, two-bedrooms are available from €1,065,000, and three bedroom apartments are available from €1,275,000.