Luxury office building in the center of Limassol

This Class A development is a state-of-the-art design that complements the area and business hub in which it is built.

The property is in the highly sought-after area of Mesa Geitonia in Limassol.

The masterfully designed building provides spacious offices across five floors. Each floor consists of two large offices individually designed with luxe finishes.

Interior features include common facilities, a welcoming reception area, natural marble floors in common areas, high ceilings, and carpets in the offices. Each office has central VRF conditioning.

Exterior features include a fireproof entrance door with an intercom system, double-glazed windows with aluminum frames, spacious verandas with excellent city views, and 49 ample parking spaces.

The development is within easy reach of amenities like cafeterias, restaurants, banks, schools, shopping boutiques, and leisure centers.

Various businesses and plenty of beautiful parks filled with green scenery are local to Spyrou Kyprianou Avenue, and it is within easy reach of the highway.

The total indoor area of the property is 3,505.3 sq m. The price of the whole building is €21,368,000.

See the table below for further specifications.

INVESTMENT PROPOSAL

The corporate capital of Limassol is a hub for thousands of international companies in Cyprus, mainly those in the financial and technological sectors.

Cyprus has become a highly desirable relocation center in the Middle East and Southern Europe thanks to the zero-dividend tax, low corporate tax, and IP Box Regime, and the New Strategy for Attracting Business.

Between 2020 – 2022, more than 250 prominent international technology companies relocated to Limassol. More than 8000 developers (self-employed and employees) relocated in the same period. Proportionally to the guest country’s population size, this is the largest movement of developers relocating to a single country in the European Union. 

This trend is expected to increase continually due to the worsening of global political conditions and the Cypriot government’s introduction of attractive tax incentives.

Many companies are now looking for new offices for their employees. There are approximately 50 companies currently searching for new headquarters as they are inconveniently located in multiple buildings and locations. These companies want to acquire one building where all the employees can work together. Their employees are high-paid individuals requiring a higher standard of working conditions.

New Class A commercial properties in the center of Limassol have become extremely scarce and in demand. Specifically, new Class A commercial property prices have risen annually by 10% in the last four years.

The average selling price of Class A offices in the central area where this building is located is €6,900 per sq.m. The co-financing of this project will enable Amazon Investments to complete it at the cost of €6,100 per sq.m.

The project can also be used as a rental business with an expected average net return of 6.5%, while capital appraisal is expected to produce an IRR of 17%.