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Symbol Residence: Foundation Stone Laying Ceremony Attended by Billionairess Elena Baturina

Symbol Residence: Foundation Stone Laying Ceremony Attended by Billionairess Elena Baturina

The foundation stone laying ceremony was for the high-end residential development ‘Symbol’ was held on May 27 in Agios Tychonas, Limassol. The project involves investment by the Investment Group of Elena Baturina, the richest woman of Russia, international entrepreneur and philanthropist. As was previously announced, the overall investment into the development will exceed €40 million.

The ceremony celebrated the start of the active stage of construction, and was attended by the Mayor of Agios Tychonas, Charalambos Ioannou and Elena Baturina, as well as the project’s executives, representatives of the Cyprus Government, business community and other prominent members of the public.

The Mayor Charalambos Ioannou welcomed the guests, and pointed out that “Agios Tychonas and Limassol in general are areas of rapid development. Every year, new residential, commercial and public buildings are built; new elements change the city’s infrastructure in order to host many cultural and business events... We always welcome new friends who are willing to support this development, bring something new and exciting to our city and country, such as the Symbol Residence. I hope that it will become another beautiful landmark in our city, one that its people will be proud of.”

Representing the hosting side, Oleg Gavrilov, Golden Wisdom, Project Manager for the Symbol Residence, thanked the guests for coming, and the community of Agios Tychonas and Limassol for their support. “We welcome you to the site that will very soon become a perfect home for many people, and a landmark for the city itself. With its extensive list of services and highly developed infrastructure, it will be a contemporary complex designed around the concept of offering maximum benefits to its future residents, and to the community,” he said.

Alexander Rezchikov, Managing Director of Golden Wisdom, the company that commissioned the construction, added, “I view laying this Foundation Stone not only as the first step of this very construction, but as the first step to multiple future prospects.”

The project is being brought to life by Elena Baturina’s Investment Group; Andreas Charalambides, Chairman of the Board, spoke on its behalf: “We welcome you all to the very start of this construction. We are happy with all the choices we have made for Symbol, starting with the concept and location, and ending with our partners and contractors. With all the preparatory work successfully finished, we all can’t wait to see the result.”

To this, Elena Baturina added, “Limassol is a wonderful city with lots of potential for all sorts of investment. We are happy that we can bring our visions to life here, starting with this beautiful architectural vision to soon become reality and bring even more distinction to Limassol’s skyline.”

The construction itself is carried out by Cyprus construction company, Cyfield Group, with the completion scheduled for 2021. The CEO of Cyfield, George Chrysochos, commented that Symbol is an outstanding architectural project developed by Spanish architect Ricardo Bofill and his studio ‘Taller de Arquitectura’. “The building will comprise 23 residential units, a total of over 7 thousand square meters. It possesses unique inner and outer structure with spacious terraces on each floor, and layout flexibility. It is an exciting challenge that we are eager to take on,” he explained.

The plot for the development with the area of 4.6 thousand square meters is located directly on the beachline in close proximity to the Limassol city centre with easy access to all amenities and transport links. In the territory of the residence, there will be such facilities as an underground parking, health, spa and fitness zones, recreational areas, a pool, a private garden and dedicated concierge and security services. Complete information on the development, as well as the visuals of the project can be found at

Elena Baturina is a businesswoman, entrepreneur and philanthropist. Having graduated from the Moscow Institute of Management, Baturina went on into business and established her company Inteco, which swiftly became one of the country’s leading construction firms, boasting a wide-ranging, award-winning portfolio that extended beyond the borders of Russia. Under Baturina’s direction, the company forged relationships with leading international architects. After selling Inteco in 2011, Elena Baturina’s Investment Group continued to expand activities in the sphere of investments internationally, with the portfolio ranging from hospitality to renewable energy, membrane engineering, commercial and residential property, and covering the EU, the US, Kazakhstan and Russia.


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