The design and quality of the EUR250 million Ayia Napa Marina is rewriting the rule book for luxury developments, according to Stavros Caramondanis, CEO of the project. Launched a year ago, 50% of the available for sale units have already been sold with buyers looking for first-mover investment opportunities.
Located on Cyprus, in the southern Mediterranean, and designed by renowned architects SmithGroupJJR, Ayia Napa Marina is an exclusive integrated development. It offers luxurious living, exceptional facilities and is seen as an excellent investment opportunity. The scheme is being showcased at Cityscape Global (Dubai 11-13th September, 2017 – Booth No. SAE30) and is setting the bar for all luxury residential projects.
Mr Caramondanis said: “We are excited by the interest the project has generated. The attention to design and finish, using architects of the standing of SmithGroupJJR, creates a product which is attracting discerning buyers. The feedback we have received, from around the world, is that these buyers are looking for first mover high-quality developments. There are many ‘copy-cat’ projects, which mirror existing developments, but very few exciting new opportunities in relatively underdeveloped markets.”
The scheme is a joint project between Ora Developers, led by Egyptian businessman and international statesman, Naguib Sawiris, and Cyprus-based Caramondani Group. Ora Developers is known for attention to detail, quality and a deep understanding of what exclusivity really means. This approach is allied to the local knowledge and respect that the Caramondanis Group brings, creating a very strong partnership.
Talking about the marina Mr Sawiris, commented. “I invested in this project for three reasons. Firstly, I was a regular visitor to Ayia Napa in the seventies and used to enjoy it’s amazing beaches. Secondly, a high-end luxury development is missing at this destination. And, finally, I like the people of Cyprus and believe that the Southern Mediterranean is undervalued. It will go through a renaissance and I want to help this happen.”
Ayia Napa is a mixed-use residential, marina and commercial project based around 190 apartments, housed in two iconic twisting towers, 29 villas, a 600-berth full-service marina and a collection of retail, waterfront dining and lifestyle amenities for its ultra-high-net-worth residents and visitors.