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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.

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.

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.

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.

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

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.

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.

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.

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