Luxury offices building in the entrance of Pafos

Amazon Investments is searching for investors to co-finance the construction of this premium commercial building. 

Located in Pafos close to the city center, this striking modern development consists of six levels and luxury offices ranging from 55 to 116 sq.m.

There are covered parking spaces for eight vehicles on the basement floor. A total of seven cars have a parking space of 11.5 sq.m. and one ample parking space of 29 sq.m. for persons with disabilities.

In addition, the ground floor comprises an exhibition hall plus a mezzanine. This floor provides 116 sq.m. of space, and the mezzanine provides an additional 65 sq. m.

The first, second, and third floors provide office spaces of 80 sq.m., each with a spacious covered veranda of 10 sq.m. The total built-up area of all floors is 832 m2.

The highlight of the building is a spectacular roof garden with sea and mountain views, where employees can enjoy leisure time or hold professional meetings. 

Beneficially, the offices are only a short walk away from many local attractions, such as Pafos Promenade and Kings Avenue Mall, and a 20-minute drive from the international airport.

The proximity to the city center, educational institutions, and amenities, such as banks, cafés, and grocery stores, make this modern commercial building an ideal high-return investment.

The total selling price is €3,100,000. Please see the table below for further design specifications. 

INVESTMENT PROPOSAL

In recent years, Cyprus has become a buzzing corporate hub for thousands of international technology companies.

The attractive tax regime (IP Box Regime, Notional Interest Deduction, lowest corporate tax in Eurozone, zero dividend tax, income tax discounts for non-domicile employees) combined with access to the European Union workforce and capital markets has made Cyprus the ideal destination for technology firms.

Limassol used to be the leader in attracting these firms, but Pafos came into the spotlight when rental and property prices dramatically increased in Limassol.

According to the Statistical Service in Cyprus, over 500 high-paid IT professionals and digital nomads moved to Pafos in 2021.

The average selling price of new Class A offices in the center of Limassol is €6,200 per sq.m. (including circulation and basement areas). The price of Class A offices on the coastal road of Limassol is €7,400 sq. m.

The average selling price of newly constructed Class A offices in the center of Pafos is €4,100 per sq.m. Co-financing enables Amazon Investments to complete this development at the cost of €3,400 per sq.m.

The project can also be used as a rental business with an expected average net return of 7.5%. A property management company of Amazon Group Services can manage the project if required.

 The project’s location is ideal for many companies based in Limassol and now looking to expand their business in Pafos. The property is located precisely at the entrance of Pafos, conveniently ensuring minimal distance between the two cities.

Furthermore, the development is located directly opposite the Rio Entertainment Center (REC), which a Dutch company acquired in 2022. Due to the redesign plans for the REC to become a premium office hub, the area is gaining significant value as a commercial center.