Limassol, Cyprus’ second largest city, has undergone nearly a decade of regeneration and development, emerging as a luxury destination with landmark developments like Limassol Marina, My Mall, Dubai World Cruise Terminal, and a PGA championship golf course. High-profile global celebrities and Ultra High Net Worth individuals from the GCC region now call it home.
Cyprus has become a primary business partner for the GCC and Middle East, with direct flight routes from UAE, Qatar, Kuwait, and Saudi Arabia. The country positions itself as a classic European investment destination for investors from the GCC.
Pantelis Leptos, Co-President of Leptos Group of Companies, believes that Cyprus’s strong connections to the Middle East are growing stronger each year. He sees the country becoming a clear bridge providing access and investment opportunities into and out of the EU, especially through the city of Limassol.
The city of Limassol has also seen rapid growth in its property market, offering high rental yields and the island’s highest market values. Sales of high-end properties have increased in volume, particularly in Limassol.
Leptos Estates has recorded the highest proportion of its sales in Limassol, particularly at three high-end developments: Limassol Blu Marine, Limassol Del Mar, and Limassol Park.
Blu Marine, a largescale development in Limassol attracting buyers from 20 different nationalities, will contribute significantly to the Cypriot economy and shape a new veneer for the historic city.
The Mayor of Limassol refers to Aktaia Odos as a city within a city, part of a wider masterplan that will see multimillion pound infrastructure investment, creating a luxury coastal destination that rivals any other in Europe.
Cyprus has kept a healthy tax rate for foreign companies to attract foreign investment, making it a prosperous place to live and work. Limassol, in particular, is driving the local property market and generating strong returns for investors.
Leptos Estates recently launched the Zeus Signature Collection within the second luxury residential tower at Limassol Blu Marine. Prices start at $927,533 +VAT for a one-bedroom apartment, and the development offers access to a private amenity suite, swimming pools, and a dedicated beach.
Limassol Park, close to the new Limassol Golf Course, offers homes surrounded by green fields and allocated landscaped gardens. Limassol Del Mar, a contemporary development, has modern architecture and offers stunning views of the Mediterranean Sea.
Leptos Estates is the leading provider of new homes in Greece and Cyprus. For more information, contact the Dubai office on +971 4 2579306 / +971 509482424.