news | 05 March 2018 | Limassol Del Mar

Consortium of four exceptional companies from Cyprus and abroad takes over the construction of Limassol Del Mar

Cypeir Properties Ltd announces the assignment of the construction works of the prestigious Limassol Del Mar, to the consortium of companies, which includes Atlaspantou Co Ltd, MAN Enterprise, ICM Group and CMB Società Cooperativa. These companies have a wide expertise in the field of high-rise developments and the assignment was based on their eminent professionalism, successful history, international high standards and novelty.

2019: Delivery of the first residences to their owners.

The local company Atlaspantou Co Ltd is a pioneer in the construction field with more than 80 years of experience. It has been established with noteworthy projects, including one of the highest in Cyprus.

The world-wide MAN Enterprise is based in Lebanon and stands out for the excellence of the projects it undertakes. An example worth mentioning is the 52-story skyscraper “Sama Beirut” in the heart of Lebanon, which is considered a landmark project of the 21st century as well as the “Beirut Terraces”.

The Italian IMC Group has developed major residential, commercial and public construction projects worldwide.

Finally, the Italian Società Cooperativa is internationally famous for its impressive projects, such as its latest development the 44-floor skyscraper “Generali Tower” in Milan, designed by the famous architect Zaha Hadid.

The letter of award was signed on 28/2/2018, at the Limassol Del Mar offices by the two groups, Leptos and D. Zavos, which form the Cypeir Properties Ltd consortium. The construction site will be immediately “occupied” by the newly-formed consortium, with the arrival of the appointed specialists’ team and qualified staff.

The execution of the project is expected to significantly benefit the Cypriot economy, as it will create hundreds of new job vacancies in both the construction as well as the services fields with the commencement of its operations. The overall investment is covered by the income from the apartment sales, which already ensures the completion of the project’s construction.

Mr Achilleas Achilleos, Project Manager of Limassol Del Mar mentions: “We are sure that the team work, joint experiences and know-how of the specifics of the construction field, the team leaders’ absolute focus on our target, which is the good result and on-time delivery, will set the foundations for superior practice in Cyprus and develop a new level of professionalism.”  

Part of the foundation and assembly of the basement has already been completed. Based on the assignment, the consortium is expected to complete and deliver Phase I of the works by 2019, while the second phase of the project will be delivered in 2020.

The first phase includes the completion and delivery of the ground floor and mezzanine floor, where the shops, restaurants and parking spaces will be located, and the third floor, where all facilities provided together with the residences of the first tower.

It’s important to highlight that after the immense success of apartment sales of Phase I, the success continues with the sales of the second tower called “The Signature Collection” exceeding every expectation and company target.

Limassol Del Mar is a world-class seafront development, in the ultra-desirable coastal Limassol, with unobstructed sea-view from all apartments. This landmark development consists of luxury residences, 5-star facilities and services as well as high-end shops and restaurants.

With property deliveries from 2019, Limassol Del Mar is at advantage ground over other projects.

Snapshot taken from the contract assignment meeting

Cooperation Partners
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