MENA investors set their sights on Limassol as a second home destination

02/05/2022

Business owners, entrepreneurs and investors from the Middle East set their sights on Limassol as a second business home location

 

Dubai, United Arab Emirates: Offering attractive business benefits and enabling access to the EU market, investors and business leaders from across the MENA region are investing in Limassol as a new business location. Many are also purchasing property to make Cyprus their summer home while taking advantage of the country’s permanent residency programme.

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, including residents from the UAE (7%), Jordan (6), Qatar (4%), Egypt (4%), Kuwait (3%) and Saudi Arabia (2%).

Limassol is the second largest city in Cyprus and is renowned for its entrepreneurship with many firms in the service, financial, technology and healthcare sectors flourishing. The introduction of the Fast Track Business Activation Mechanism, the employment of third-country nationals, work permits for spouses, huge savings on Corporate & Personal Taxes, access to EU markets and digital nomad visas are all attracting companies from the Middle East to this uniquely connected and positioned country.

MENA-based businesses looking to expand their operations to Cyprus can enjoy office spaces in Limassol Blu Marine, a development in the heart of the city, which provides luxury residencies and open offices in one spot. The huge development is generating a new prime location for the city and part of a winder plan that will oversee upwards of 1.5km of multimillion-euro infrastructure investment, rivalling the regeneration of the French Riviera.

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.

In addition, the Cyprus offers variety of leisure activities and Limassol enjoys a vibrant shopping district, dining and an array of cafes, and lounges to cater to all tastes. Considered a popular hotspot for affluent visitors from the Middle East is Limassol Marina, a luxury superyacht marina with a brand new cruise & ferry terminal and golf courses, which was awarded the “5 Gold Anchor Platinum Award” in 2019, the highest honour a marina can receive.

Pantelis Leptos, Co-President of Leptos Group of Companies, comments: “Limassol offers a robust environment for business, a diverse workforce and is a strong international centre of business with links to the UK, Middle East and Western Europe. At Limassol Blu Marine we offer not only brand new office space looking out over the Mediterranean Sea, but also high quality apartments for employers and their employees to rent or buy. It is in the ‘centre of everything’ and is now touted as ‘Europe’s New Rivera”

Commercial space at Limassol Blu Marine starts at E 7800/m2. 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. For more information contact Leptos Estates (Cyprus), or visit www.leptosestates.com.
For more images of views, interiors and exteriors or further information please contact Orla Farmer at Four Communications – orla.farmer@fourcommunications.com

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About Leptos Estates

Leptos Estates is the leading property developer in Cyprus and Greece. Founded in 1960 by Michael G. Leptos, the firm now has an established international network across 75 countries, having completed over 350 projects to date. Leptos Estates also has an extensive land bank in prime locations in Cyprus and Greece for the development of prestigious residential and holiday residences, luxury hotels and resorts as well as Mega projects.

The Leptos Group is the leader in the real estate and construction sectors for more than 60 years.  The Group maintains an international presence and an extensive network of business associates in more than 75 countries, creating projects of exceptional aesthetic and construction, offering unparalleled standards of quality of life and work.

Extensive in-house expertise enables Leptos Estates to offer clients a totally comprehensive service from land purchasing and architectural design, through to construction, interior design and property management. The Leptos Group is active in the fields of Real Estate Development, Healthcare, Hospitality and Education and is rightly considered as a guarantor of high standards.

Source: https://www.zawya.com/en/press-release/companies-news/mena-investors-set-their-sights-on-limassol-as-a-second-home-destination-rxiat8uc