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REAL ESTATE

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Limassol Del Mar Construction Assigned to a Consortium of Four Companies

Limassol Del Mar Construction Assigned to a Consortium of Four Companies

Cypeir Properties Ltd has announced assignment of the construction works of Limassol Del Mar, the fully licensed luxurious project, to the consortium of companies, which includes Atlaspantou Co Ltd, MAN Enterprise, ICM Group and CMB Società Cooperativa. These companies have a wide expertise in the field of high-rise developments and the assignment decision leaned towards them due to their eminent professionalism, international standards and novelty in successfully delivering Limassol Del Mar, the development project of international standards.

One of the four companies in the construction, the local company Atlaspantou Co Ltd, is pioneering in the construction field with more than 80 years of experience. It has been established with noteworthy projects, including one of the highest in Cyprus.

The world-wide MAN Enterprise is based in Lebanon and stands out for the excellence of the projects it undertakes. An example worth mentioning is the 52-story skyscraper “Sama Beirut” in the heart of Lebanon, which is considered a landmark project of the 21st century as well as the Beirut Terraces.

The Italian IMC Group, established in the field of construction; due to their high standards, IMC Group has secured residential, commercial and public construction projects worldwide since its formation.

Last but not least is the Italian Società Cooperativa, internationally famous for its impressive projects. Its latest development is the forty-four floor skyscraper “Generali Tower” in Milan, designed by the famous architect Zaha Hadid.

The assignment agreement was signed on 28/2/2018, at the Limassol Del Mar offices by the two groups, Leptos and D. Zavos, which formed the Cypeir Properties Ltd consortium. The construction will be immediately “occupied” by the newly-formed consortium, with the arrival of the appointed specialists’ team of qualified staff.

The execution of the project is expected to bring many advantages to the Cypriot economy since it will create hundreds of new job vacancies in both the construction and services fields with the commencement of its operations. The overall investment is covered by the incomes acquired from the apartment sales, amount that already ensures the completion of the project’s construction.

Achilleas Achilleos, Project Manager of Limassol Del Mar mentions: “We are sure that the team work, joint experiences and know-how of the specifics of the construction field, the team leaders’ absolute focus on our target, which is the good result and on-time delivery, will set the foundations for superior practice in Cyprus and develop a new level of professionalism.”  

Part of the foundation and assembly of the basement has already been completed. Based on the contracts and deadlines, the consortium is expected to complete and deliver Phase I of the works by 2019, while the second phase of the project will be delivered in 2020.

The first phase includes the completion and delivery of the ground floor and mezzanine floor, where the shops, restaurants and parking spaces will be located, and the third floor, where all services provided together with the residences of the first tower.

It’s important to highlight that after the immense success of apartment sales of Phase I, the success still continues with the sales of the second tower called “The Signature Collection” exceeding every expectation and company target.

Limassol Del Mar is a world-class seafront development, in the ultra-desirable coastal Limassol, with unobstructed sea-view from all apartments. This landmark development consists of luxury residences, 5-star facilities and services as well as high-end shops and restaurants.

With property deliveries from 2019, Limassol Del Mar is at a vantage ground over other projects.     

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