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THE ICON DEBUTS AT MOSCOW’S PUSHKIN MUSEUM

By | Cultural Initiative, Latest Posts

The Icon, a timeless, idyllic and exceptional marvel that now adorns the Cyprus coastline, had an impressive debut at the Pushkin Museum, Moscow. Imperio Properties delighted the guests by presenting its most sophisticated piece of architectural design, which is now among the tallest buildings at Limassol, Cyprus.

Imperio has reshaped Limassol’s lifestyle and prestige with the addition of The Icon, as was evident at the Pushkin Museum on Wednesday, November 7. A short presentation showcased the unique and luminescent diamond design of The Icon and its spellbinding views and interiors. Following this, attendees took a private tour of the museum, and enjoyed a live piano performance with cocktails.

The event at Pushkin Museum, one of the most historical of Russia’s museums, is part of a series of events that Imperio has held in Dubai, London and Tel Aviv. A positive response from clients has seen The Icon sell 40% of its apartments in a short time.

Yiannis Misirlis, Founding Director at Imperio, said, “The event at the Pushkin Museum was amazing. The guests got to enjoy some of the museum’s unique artwork on a private tour, and had the unique opportunity to see Virtual Reality images of the interior at the stylish properties at The Icon. The evening was a great success with both potential homeowners and investors recognising the quality of design, prime location and capital growth potential of The Icon.”

The Icon, Limassol - High Rise Development by Imperio
The Icon by Imperio

Located on the coastal road at Limassol, The Icon is 125m high, and the fourth tallest building in Cyprus. The building comprises 21 floors with 54 luxurious apartments, giving a panoramic view of the city from the East to the West, and inter-coastal views along the Mediterranean Sea. The 10th floor houses a modern restaurant with an impressive infinity-edge pool that gets ample sunlight and appears to stretch to the infinite horizon. The 3-dimensional slanted facades and verandas keep the apartment energy efficient.

Imperio has reset the coordinates of contemporary life in Limassol, Cyprus with properties that transcend expectations. A young, dynamic and forward thinking team, Imperio is proud to present its latest offering, The Icon.

For more information on The Icon’s unique offerings, please visit http://www.limassolicon.com

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INBUSINESS: RISE OF CITIZENSHIP AND PROPERTY SALES ARE DIFFERENT THINGS

By | Cyprus, Latest Posts

Αβάσιμο χαρακτηρίζει ο Αναπληρωτής Πρόεδρος του Παγκύπριου Συνδέσμου Επιχειρηματιών Ανάπτυξης Γης και Οικοδομών, Γιάννης Μισιρλής το συμπέρασμα της έκθεσης του Ευρωπαϊκού Κοινοβουλίου για τα προγράμματα παραχώρησης αδειών παραμονής (residency by investment) και προγράμματα πολιτογραφήσεων (citizenship by investment), σύμφωνα με την οποία οι ετήσιες αυξήσεις στις πωλήσεις ακινήτων στην Κύπρο οφείλονται στο πρόγραμμα πολιτογραφήσεων.

Μιλώντας στο InBusinessNews ο κ. Μισιρλής εξέφρασε την άποψη ότι η συγκεκριμένη έκθεση φαίνεται να αγνοεί τους πραγματικούς αριθμούς. «Η αύξηση που καταγράφεται στις πολιτογραφήσεις κάθε χρόνο φτάνει περίπου τις 100, ενώ η αύξηση στις πωλήσεις ακινήτων μπορεί να αφορά 1,000 ή περισσότερα ακίνητα», τόνισε σχετικά, σημειώνοντας ότι είναι αβάσιμη η απευθείας σύνδεση των δύο συμπερασμάτων.
Ταυτόχρονα, επεσήμανε ότι η εν λόγω έκθεση αγνόησε βασικά στοιχεία, τα οποία ο ξένος ή ακόμα και ο ντόπιος αγοραστής λαμβάνει υπόψη όταν καταλήγει στην απόφαση για αγορά ή επένδυση σε ακίνητα.

«Η σταθερότητα και οι συνεχείς αναβαθμίσεις της κυπριακής οικονομίας από ξένους οίκους αξιολόγησης, η ρευστότητα των κυπριακών τραπεζών είναι στοιχεία που αγνοήθηκαν κατά τη συγγραφή της έκθεσης, με αποτέλεσμα να καταλήξουν στο απλό συμπέρασμα ότι οι πωλήσεις ακινήτων οφείλονται στο πρόγραμμα πολιτογραφήσεων», ανέφερε ο κ. Μισιρλής.

Την ίδια ώρα, ο Αναπληρωτής Πρόεδρος του Παγκύπριου Συνδέσμου Επιχειρηματιών Ανάπτυξης Γης και Οικοδομών αναφέρθηκε στην «παράλογη σύνδεση του συγκεκριμένου προγράμματος με τη φορολογική βάση», διευκρινίζοντας ότι «δεν χρειάζεται να είσαι κάτοχος κυπριακού διαβατηρίου για να γίνεις φορολογικός κάτοικος της Κύπρου».

Ανεπαρκή κριτήρια στη λίστα του ΟΟΣΑ
Ερωτηθείς επίσης για τη συμπερίληψη της Κύπρου στη «μαύρη» λίστα του Οργανισμού Οικονομικής Ανάπτυξης και Συνεργασίας (ΟΟΣΑ) για τις πολιτογραφήσεις, τόνισε ότι και σε αυτή την περίπτωση δεν δόθηκαν επαρκείς διευκρινίσεις όσον αφορά τα κριτήρια, με βάση τα οποία δημιουργήθηκε αυτή η λίστα.

«Αν η λίστα δημιουργήθηκε με βάση τους κινδύνους που υπάρχουν στο Common Reporting Standard (CRS), τότε θα έπρεπε να συμπεριληφθούν και άλλες χώρες εντός και εκτός Ευρώπης που έχουν χαμηλό φορολογικό καθεστώς, όπως ενδεχομένως το Ηνωμένο Βασίλειο, η Ισπανία, η Ιταλία, ο Καναδάς», σημείωσε ο Γιάννης Μισιρλής.

Οι επενδυτές δεν ωθούνται από τη φορολογία
Ταυτόχρονα, ξεκαθάρισε ότι στο 99% των περιπτώσεων οι επενδυτές που προκύπτουν από τα προγράμματα πολιτογράφησης σε οποιαδήποτε χώρα δεν ωθούνται από φορολογικούς παράγοντες για να επενδύσουν σε μία χώρα.

Όπως είπε σχετικά, κίνητρο για αυτούς τους επενδυτές αποτελούν επιχειρηματικοί λόγοι, ευκαιρίες που μπορεί να διαβλέπουν για τους ίδιους ή για τα παιδιά τους μεταγενέστερα, όπως η δυνατότητα μόρφωσης των παιδιών τους σε σχολεία και πανεπιστήμια, λόγοι ασφάλειας και ελεύθερης διακίνησης.

Ο κ. Μισιρλής αφενός αναγνώρισε την ανάγκη αυστηρών ελέγχων και διαδικασίας due dilligence, αφετέρου, όμως, τόνισε ότι τα κριτήρια, σύμφωνα με τα οποία μία χώρα μπαίνει σε αυτές τις «μαύρες» λίστες, θα πρέπει να γίνουν πιο ξεκάθαρα.

Source: InBusiness

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THE ICON: CONSTRUCTION CONTRACT SIGNED

By | Latest Posts

Imperio to deliver the first luxurious tower in 24 months

Imperio Group of Companies has commissioned the construction of the luxurious residential project of The Icon in Limassol to the one of the largest construction companies in Cyprus, Iacovou Brothers.

Imperio: Antonis Misirlis and Giorgos Iacovou

Construction works are well underway and will be completed in twenty-four (24) months. The execution of the contract is expected to bring multiple benefits to the economy of the city, since it will create hundreds of new jobs in both the construction and service sectors.

The official signing of the contracts took place on 19 October at the headquarters of Imperio in Limassol.

Icon-Imperio: IacovouBros

The Icon will be 125 metres high and the fourth tallest building in Cyprus. The project, located on the coastal road of the Municipality of Yermasogeia. It is expected to be delivered in December 2020. It will offer 54 idyllic apartments over 21 floors. All with panoramic views of the city and the Limassol coastline with luxurious amenities and services around the clock.

According to Imperio, The Icon will consist of one-bedroom apartments to penthouses and whole floor apartments, fully equipped with furniture designed by Imperio’s award-winning Interior Designers team.

The 10th floor of the new high-rise development on Limassol’s seafront boulevard, will house a modern restaurant with stunning views of the city, the Mediterranean Sea and beyond and an impressive infinity-edge pool which seemingly stretches into the infinite horizon.

Upon completion of the project, the projected sellout will exceed €100 million, while 35% of the luxurious apartments has already been sold.

Imperio: Antonis Misirlis and Giorgos Iacovou

In his statements, Mr Iacovou, CEO of the Iacovou Group of Companies, welcomed the signing of the contract, saying that Iacovou Group is very delighted for undertaking the construction of the project and is looking forward to the successful implementation of this iconic building which will constitute a future landmark for the city of Limassol and Cyprus in general. The opportunity to join forces with an esteemed and respectable organisation like Imperio Group provides us with the ability to work closely towards a successful goal.

The project is emblematic both for Limassol and Cyprus in general, since, according to Mr Misirlis, Director of Imperio, “this is an impressive building in terms of design and specifications that will adorn the coastline of Limassol for in the coming decades”. He also added that The Icon will be easily comparable with similar projects in London, Paris, Miami and New York.

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CYPRUS MAIL: FITCH UPGRADES CYPRUS TO INVESTMENT GRADE

By | Investment, Latest Posts

Fitch Ratings has upgraded Cyprus’ sovereign rating to investment grade, ‘BBB-‘ from ‘BB+’, with a stable outlook as the island expects a 2.7 per cent fiscal surplus this year and continuous growth that will boost receipts.

The upgrade followed similar action by Standard and Poor’s last month.

Finance Minister Harris Georgiades took to Twitter to thank everyone for their contribution.
“Forging ahead,” he added.

Fitch said the upgrade reflected the buoyant fiscal revenue and prudent fiscal policy, which will see Cyprus record a fiscal surplus of 2.7 per cent of GDP in 2018, compared with a target of 1.7 per cent in the April 2018 Stability Programme Update.

“We forecast the fiscal surplus will remain high at 2.4 per cent and 2.2 per cent of GDP in 2019 and 2020, respectively, compared with 3.1 per cent and 2.9 per cent targeted in the 2019 Draft Budgetary Plan. Robust economic growth will boost fiscal receipts, while previously adopted hiring freeze and collective agreements will likely limit growth in the wage bill.”

The rating agency said the island’s public debt will remain on a firm downward trajectory despite a one-off expected increase this year following the placement into Cyprus Cooperative Bank (CCB) of €3.19bn in government bonds (15.5 per cent of GDP) to facilitate the acquisition of part of the state-owned bank by Hellenic Bank.

The move will raise the debt to 104.4 per cent at end-2018 from 95.7 per cent in 2017.

“However, we expect large primary surpluses, robust growth and contained nominal effective interest rates will reduce GGGD/GDP to 70 per cent of GDP by 2027.”

The ratio of non-performing exposures (NPEs) to total loans fell to 40.3 per cent in the first half of the year from 44 per cent in 2017, partly supported by the announced securitisation by Bank of Cyprus (BoC) of €2.7bn gross NPEs.

The acquisition by HB of CCB’s good assets and the subsequent transfer into a run-off entity of CCB’s €5.7bn NPEs portfolio are estimated to have led to a further decrease in NPEs to 30 per cent in September 2018.

“This will support a substantial decrease in contingent liabilities stemming from the banking sector, although these remain large.”

Private sector debt and non-performing exposures remain high, however, at 226 per cent and 97 per cent of GDP in 1Q18, respectively, and constrain credit growth.

Household and corporate debt stood at 105 per cent and 121 per cent of GDP and a large part of the recent decline in such debt stemmed mostly from high GDP growth, debt-to-asset swaps, loan write-offs, rather than loan repayment.

“We expect private sector deleveraging will accelerate, however, as enforcement of new legal amendments, improving earnings and recovering house prices foster debt repayment. Economic growth will likely remain resilient to a faster resolution in NPEs as rising wages, a dynamic labour market and high household savings will help preserve disposable income and smooth consumption.”

Source: Cyprus Mail

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INBUSINESS: 35% OF THE ICON SOLD

By | Latest Posts

Την ίδια ώρα, ιδιαίτερο είναι το ενδιαφέρον που προκύπτει από αγοραστές για το κτήριο των 21 ορόφων.

Συγκεκριμένα, οι πωλήσεις/προκρατήσεις για τον πύργο, ο οποίος αναμένεται να αποτελέσει ένα από τα ψηλότερα κτήρια οικιστικής ανάπτυξης στην Κύπρο, προσφέροντας πανοραμική θέα στην πόλη και στην ακτογραμμή της Λεμεσού, ανέρχονται μέχρι στιγμής στο 35%.

Ανάμεσα στους ενδιαφερόμενους είναι ξένοι επενδυτές από τη Ρωσία, το Ισραήλ και αραβικές χώρες, όπως επίσης και Κύπριοι που ζουν στο εξωτερικό.

Μισιρλής: Ετήσιες αυξήσεις στις συναλλαγές για μία πενταετία
Την ιδιαίτερη ικανοποίηση του για το γεγονός ότι ο όγκος συναλλαγών στα ακίνητα συνεχίζει την ανοδική του τάση εξέφρασε ο Αναπληρωτής Πρόεδρος του Παγκύπριου Συνδέσμου Επιχειρηματιών Ανάπτυξης Γης και Οικοδομών και Διευθυντής της Imperio, Γιάννης Μισιρλής.
Όπως δήλωσε στο InBusinessNews ο κ. Μισιρλής, τα πρόσφατα στοιχεία από το Κτηματολόγιο έχουν δείξει ετήσια αύξηση των συναλλαγών πέραν του 20% σε Παγκύπρια βάση, με την Λεμεσό να διατηρεί την πρωτιά.

«Είναι σημαντικό να τονίσουμε ότι η πλειοψηφία των πράξεων αυτών δεν έχει πραγματοποιηθεί με τραπεζική χρηματοδότηση, ένα πολύ σημαντικό στοιχείο που καταδεικνύει τις βάσεις μιας πολύ σταθερής και υγιούς αγοράς ακινήτων, μακριά από επικίνδυνες καταστάσεις υπερχρέωσης του κλάδου που ζήσαμε την περασμένη δεκαετία», διευκρίνισε σχετικά.

Παράλληλα, εξήγησε ότι παρόλες τις αυξήσεις του όγκου συναλλαγών, είμαστε ακόμη πολύ μακριά από μια αγορά κανονικού μεγέθους. «Έτσι, θα περίμενε κανείς παρόμοιες ετήσιες αυξήσεις για τουλάχιστον ακόμα μια πενταετία», ανέφερε ο κ. Μισιρλής.

Με λόμπι πολυτελούς ξενοδοχείου
Υπενθυμίζεται ότι το ύψος του Icon θα φτάνει τα 125 μέτρα. Μεταξύ άλλων, το έργο θα διαθέτει 54 ειδυλλιακές κατοικίες, με εμπνευσμένους εσωτερικούς χώρους και υπαίθριους χώρους διαμονής σχεδιασμένους από την βραβευμένη ομάδα της Imperio.

Όλες οι πολυτελείς κατοικίες έχουν σχεδιαστεί για να πλαισιώνουν με κομψότητα τις όψεις της πόλης της Λεμεσού, την ακτή και τον ουρανό, προσφέροντας αίσθηση άνεσης και χαλάρωσης.

Η είσοδος στο λόμπι του The Icon, όπως φαίνεται πιο κάτω, παρομοιάζεται με την είσοδο ενός πολυτελούς ξενοδοχείου χάρη στον ειδικό σχεδιασμό που έχει γίνει.

Το Icon έχει σχεδιαστεί από την αρχιτεκτονική εταιρεία UDS Antoniades + Eleftheriou Architects.

Οι εργασίες ανέγερσης, οι οποίες ξεκίνησαν τον Φεβρουάριο του 2018, αναμένεται να ολοκληρωθούν τον Δεκέμβριο του 2020, οπόταν και θα παραδοθεί το έργο.
Η αξία του έργου ανέρχεται στα €90 εκατ.

Δείτε τη θέα της Λεμεσού από το The Icon

Source: InBusiness News

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THE ICON: THE JOY OF HIGH-RISE LIVING

By | Latest Posts

54 immaculately designed residences are delivered fully finished with inspired interiors and outdoor living spaces designed by Imperio’s award-winning team.

All of these unique residences were designed to gracefully frame views of the city of Limassol, the coastline and the sky offering an effortless sense of ease and relaxation.

THE ICON TAKES SHAPE

By | Latest Posts, Uncategorized

February marks the beginning of a new era in Limassol, as construction began on the new high-rise development, The Icon, by Limassol’s famous property developer Imperio. The Icon is set to be one of the tallest residential buildings in Cyprus, boasting panoramic views of the city and coastline of Limassol. The project was designed by the established architectural firm UDS Antoniades + Eleftheriou architects.

To make way for The Icon, which is set in the heart of Limassol, in the Germasoyia area, a former historic nightclub, The Triangle Bar, was demolished this month. Once completed, the new tower is expected to house 54 idyllic residences across 21 floors, complete with luxury amenities and around-the-clock services.

The residences will range from one-bedroom apartments to penthouses and full-floor homes, delivered fully finished with inspired interiors and outdoor living spaces designed by Imperio’s award-winning team.

Limassol, the cosmopolitan city on the southern coast of Cyprus, is seeing a surge in high-rise developments to satisfy an ever increasing demand for high-end homes. On a national scale, real estate sales this year have recorded an increase in the region of 25% compared to sales figures for 2016.

Yiannis Misirlis, founder and director at Imperio and vice-chairman of Cyprus’s National Developers’ Association stated: “Cyprus is seeing an increasing interest from investors who are keen to invest in property as a means of securing their family’s future. Given that global interest rates are at an all-time low and a degree of geopolitical uncertainty is widespread, Cyprus is proving to be a safe haven for the world’s sophisticated real estate investors. We expect this demand to continue to rise for the next five to six years.

The estimated delivery date of The Icon is December 2020.

Press release can be found here

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CYPRUS SEES A POSITIVE STEADY RECOVERY IN THE REAL ESTATE MARKET FOR 2018

By | Latest Posts

Steady recovery in the Cyprus real estate market is expected in 2018, with demand expected to continue progressively, according to several market experts, as published in a recent news article from InBusinessNews, a leading news portal of Cyprus.

2017 was noted as a very good year, during which the recovery of the economy of Cyprus had a definite impact on the real estate sales volume. The sales volume of the year demonstrated a clear recovery of the real-estate market, and a very similar trend should be expected to take place in the New Year, as the economy expands further.

As InBusinessNews reports, the Vice-Chairman of LBDA (National Land and Building Developers Association), Mr Yiannis Misirlis, commented that a sharp change of prices in 2018 is not expected, nor desirable. “Prices were in decline until a couple of years ago, then stabilised, and 2017 was the first year which saw marginal growth. We should expect further marginal growth for the New Year. Therefore, capital appreciations in the region of 3-4 per cent coupled with rental yields, which are currently at 4-5 per cent for residential units, means that traditional core strategies are starting to see increasing investment yields.”

Commenting on any notable moments in 2017, Mr Misirlis remembered the September meeting of LBDA with Troika (the tripartite committee led by the European Commission with the European Central Bank and the International Monetary Fund, that supervised the Economic Adjustment Programme for Cyprus) during which Troika recognised the healthy recovery of the property sector taking place. As Mr Misirlis said, “the Cyprus real estate sector is entering a stabilization path, away from the dangerous moves and the extreme lending that prevailed in the past.”

In a private discussion, Mr Misirlis also commented on the “vertical growth” of Limassol, as a result of the construction of a number of high-rise buildings. “The lure of building skyscrapers is rising as developers and the Government see the benefits they bring to businesses, citizens, tenants, and the city’s profile. This is putting supertall buildings on the development agenda, propelled by economic expansion, and the desire to maximise land value.”

“We expect these stand-out structures to be increasingly command a rental and valuation premium”, Mr Misirlis adds.

While construction costs of high-rises can be high due to issues such as overcoming wind forces and ensuring energy efficiency, the gain can be worth it. “These ‘vertical communities’ not only generate investment opportunities, but also create value for the surrounding areas, helping lure crowds, drive sales and rental prices”, concludes Mr Misirlis.

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OPPORTUNITIES IN CYPRUS REAL ESTATE AT CENTRE OF TEL AVIV BUSINESS FORUM

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This is the right time to invest in Cyprus real estate according to Mr Yiannis Misirlis, Director at Imperio and Vice Chairman of Cyprus Land & Building Developers Association. Mr Misirlis addressed this important issue at a Business Delegation and Forum in Tel Aviv earlier this week, while presenting the opportunities in real estate in Cyprus under his authority as a Board Member of Cyprus Chamber of Commerce and Industry (CCCI).

The forum was put together by the CCCI and the Cyprus Ministry of Energy, Commerce, Industry & Tourism in co-operation with the Cyprus-Israel Business Association and the Israel Chamber of Commerce, in an aim towards the promotion of business relations between the business communities of Cyprus and Israel. The focus sectors of the forum included real estate, the funds industry and professional services.

Following an analysis of the real estate market cycles, Mr Misirlis addressed the forum by discussing the status of the real estate sector in Cyprus as being in the “recovery” period, soon to enter the “expansion” phase. This is supported by an extensive analysis of data on sales transactions over the past ten years, indicating that while annual sales might not reach the figures recorded in 2007 where the real estate market was at its peak, Mr Misirlis expressed optimism that the growth will continue, placing the market into a healthy position.

Recovery of the real estate market was also apparent during the first half of 2017, restoring optimism to industry professionals, as it was revealed that in the first quarter of 2017 an increase in real-estate values of 4% was recorded, reflecting the higher demand and transaction activity.  According to many real estate analysts, this stage is therefore the most appropriate time to invest in real estate, before the market enters the expansion phase, causing prices to increase.

A key point made by Mr Misirlis during the presentation is that a further increase in demand from foreign buyers was recorded during the first half of 2017, with sale contracts filed by foreigners recording a sizeably large increase compared to the first half of 2016. He identified Cyprus as one of the top performers in Europe and attributed this success to the various incentives introduced by the Cyprus Government in recent years, and to the impressive recovery of the Cyprus economy.

A special emphasis was given to the different investment opportunities which can be found in Cyprus for real estate investors, such as ambitious high-rise developments, the recently permitted integrated Casino Resort, Marinas, golf-course developments, and the recent growth in Limassol’s ever-growing skyline.

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THE ICON

By | Latest Posts

The Icon is an extension of the skyline of Limassol, with its unique stretch of land and high end residences on the Mediterranean coastline. Inspired by the unique shape of a luminescent diamond, The Icon was designed to house exclusive residences and a spectacular infinity-edge pool and restaurant on the 10th floor with uninterrupted views of the Mediterranean Sea.

The Icon benefits from unique, life enhancing amenities spanning over two entire floors and overlooking the blue waters of the Mediterranean Sea. Life at The Icon will transcend expectations with lush interiors and living areas, sports, leisure and lifestyle amenities.

Occupancy: 12/2020

See Project 

 For The Icon’s construction progress click here