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THE ICON DEBUTS AT MOSCOW’S PUSHKIN MUSEUM

By | Cultural Initiative, Latest Posts

The Icon, a timeless, idyllic and exceptional marvel that now adorns the Cyprus coastline, had an impressive debut at the Pushkin Museum, Moscow. Imperio Properties delighted the guests by presenting its most sophisticated piece of architectural design, which is now among the tallest buildings at Limassol, Cyprus.

Imperio has reshaped Limassol’s lifestyle and prestige with the addition of The Icon, as was evident at the Pushkin Museum on Wednesday, November 7. A short presentation showcased the unique and luminescent diamond design of The Icon and its spellbinding views and interiors. Following this, attendees took a private tour of the museum, and enjoyed a live piano performance with cocktails.

The event at Pushkin Museum, one of the most historical of Russia’s museums, is part of a series of events that Imperio has held in Dubai, London and Tel Aviv. A positive response from clients has seen The Icon sell 40% of its apartments in a short time.

Yiannis Misirlis, Founding Director at Imperio, said, “The event at the Pushkin Museum was amazing. The guests got to enjoy some of the museum’s unique artwork on a private tour, and had the unique opportunity to see Virtual Reality images of the interior at the stylish properties at The Icon. The evening was a great success with both potential homeowners and investors recognising the quality of design, prime location and capital growth potential of The Icon.”

The Icon, Limassol - High Rise Development by Imperio
The Icon by Imperio

Located on the coastal road at Limassol, The Icon is 125m high, and the fourth tallest building in Cyprus. The building comprises 21 floors with 54 luxurious apartments, giving a panoramic view of the city from the East to the West, and inter-coastal views along the Mediterranean Sea. The 10th floor houses a modern restaurant with an impressive infinity-edge pool that gets ample sunlight and appears to stretch to the infinite horizon. The 3-dimensional slanted facades and verandas keep the apartment energy efficient.

Imperio has reset the coordinates of contemporary life in Limassol, Cyprus with properties that transcend expectations. A young, dynamic and forward thinking team, Imperio is proud to present its latest offering, The Icon.

For more information on The Icon’s unique offerings, please visit http://www.limassolicon.com

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INBUSINESS: RISE OF CITIZENSHIP AND PROPERTY SALES ARE DIFFERENT THINGS

By | Cyprus, Latest Posts

Αβάσιμο χαρακτηρίζει ο Αναπληρωτής Πρόεδρος του Παγκύπριου Συνδέσμου Επιχειρηματιών Ανάπτυξης Γης και Οικοδομών, Γιάννης Μισιρλής το συμπέρασμα της έκθεσης του Ευρωπαϊκού Κοινοβουλίου για τα προγράμματα παραχώρησης αδειών παραμονής (residency by investment) και προγράμματα πολιτογραφήσεων (citizenship by investment), σύμφωνα με την οποία οι ετήσιες αυξήσεις στις πωλήσεις ακινήτων στην Κύπρο οφείλονται στο πρόγραμμα πολιτογραφήσεων.

Μιλώντας στο InBusinessNews ο κ. Μισιρλής εξέφρασε την άποψη ότι η συγκεκριμένη έκθεση φαίνεται να αγνοεί τους πραγματικούς αριθμούς. «Η αύξηση που καταγράφεται στις πολιτογραφήσεις κάθε χρόνο φτάνει περίπου τις 100, ενώ η αύξηση στις πωλήσεις ακινήτων μπορεί να αφορά 1,000 ή περισσότερα ακίνητα», τόνισε σχετικά, σημειώνοντας ότι είναι αβάσιμη η απευθείας σύνδεση των δύο συμπερασμάτων.
Ταυτόχρονα, επεσήμανε ότι η εν λόγω έκθεση αγνόησε βασικά στοιχεία, τα οποία ο ξένος ή ακόμα και ο ντόπιος αγοραστής λαμβάνει υπόψη όταν καταλήγει στην απόφαση για αγορά ή επένδυση σε ακίνητα.

«Η σταθερότητα και οι συνεχείς αναβαθμίσεις της κυπριακής οικονομίας από ξένους οίκους αξιολόγησης, η ρευστότητα των κυπριακών τραπεζών είναι στοιχεία που αγνοήθηκαν κατά τη συγγραφή της έκθεσης, με αποτέλεσμα να καταλήξουν στο απλό συμπέρασμα ότι οι πωλήσεις ακινήτων οφείλονται στο πρόγραμμα πολιτογραφήσεων», ανέφερε ο κ. Μισιρλής.

Την ίδια ώρα, ο Αναπληρωτής Πρόεδρος του Παγκύπριου Συνδέσμου Επιχειρηματιών Ανάπτυξης Γης και Οικοδομών αναφέρθηκε στην «παράλογη σύνδεση του συγκεκριμένου προγράμματος με τη φορολογική βάση», διευκρινίζοντας ότι «δεν χρειάζεται να είσαι κάτοχος κυπριακού διαβατηρίου για να γίνεις φορολογικός κάτοικος της Κύπρου».

Ανεπαρκή κριτήρια στη λίστα του ΟΟΣΑ
Ερωτηθείς επίσης για τη συμπερίληψη της Κύπρου στη «μαύρη» λίστα του Οργανισμού Οικονομικής Ανάπτυξης και Συνεργασίας (ΟΟΣΑ) για τις πολιτογραφήσεις, τόνισε ότι και σε αυτή την περίπτωση δεν δόθηκαν επαρκείς διευκρινίσεις όσον αφορά τα κριτήρια, με βάση τα οποία δημιουργήθηκε αυτή η λίστα.

«Αν η λίστα δημιουργήθηκε με βάση τους κινδύνους που υπάρχουν στο Common Reporting Standard (CRS), τότε θα έπρεπε να συμπεριληφθούν και άλλες χώρες εντός και εκτός Ευρώπης που έχουν χαμηλό φορολογικό καθεστώς, όπως ενδεχομένως το Ηνωμένο Βασίλειο, η Ισπανία, η Ιταλία, ο Καναδάς», σημείωσε ο Γιάννης Μισιρλής.

Οι επενδυτές δεν ωθούνται από τη φορολογία
Ταυτόχρονα, ξεκαθάρισε ότι στο 99% των περιπτώσεων οι επενδυτές που προκύπτουν από τα προγράμματα πολιτογράφησης σε οποιαδήποτε χώρα δεν ωθούνται από φορολογικούς παράγοντες για να επενδύσουν σε μία χώρα.

Όπως είπε σχετικά, κίνητρο για αυτούς τους επενδυτές αποτελούν επιχειρηματικοί λόγοι, ευκαιρίες που μπορεί να διαβλέπουν για τους ίδιους ή για τα παιδιά τους μεταγενέστερα, όπως η δυνατότητα μόρφωσης των παιδιών τους σε σχολεία και πανεπιστήμια, λόγοι ασφάλειας και ελεύθερης διακίνησης.

Ο κ. Μισιρλής αφενός αναγνώρισε την ανάγκη αυστηρών ελέγχων και διαδικασίας due dilligence, αφετέρου, όμως, τόνισε ότι τα κριτήρια, σύμφωνα με τα οποία μία χώρα μπαίνει σε αυτές τις «μαύρες» λίστες, θα πρέπει να γίνουν πιο ξεκάθαρα.

Source: InBusiness

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THE ICON: CONSTRUCTION CONTRACT SIGNED

By | Latest Posts

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.

Imperio: Antonis Misirlis and Giorgos Iacovou

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.

Icon-Imperio: IacovouBros

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.

Imperio: Antonis Misirlis and Giorgos Iacovou

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.

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CYPRUS MAIL: FITCH UPGRADES CYPRUS TO INVESTMENT GRADE

By | Investment, Latest Posts

Fitch Ratings has upgraded Cyprus’ sovereign rating to investment grade, ‘BBB-‘ from ‘BB+’, with a stable outlook as the island expects a 2.7 per cent fiscal surplus this year and continuous growth that will boost receipts.

The upgrade followed similar action by Standard and Poor’s last month.

Finance Minister Harris Georgiades took to Twitter to thank everyone for their contribution.
“Forging ahead,” he added.

Fitch said the upgrade reflected the buoyant fiscal revenue and prudent fiscal policy, which will see Cyprus record a fiscal surplus of 2.7 per cent of GDP in 2018, compared with a target of 1.7 per cent in the April 2018 Stability Programme Update.

“We forecast the fiscal surplus will remain high at 2.4 per cent and 2.2 per cent of GDP in 2019 and 2020, respectively, compared with 3.1 per cent and 2.9 per cent targeted in the 2019 Draft Budgetary Plan. Robust economic growth will boost fiscal receipts, while previously adopted hiring freeze and collective agreements will likely limit growth in the wage bill.”

The rating agency said the island’s public debt will remain on a firm downward trajectory despite a one-off expected increase this year following the placement into Cyprus Cooperative Bank (CCB) of €3.19bn in government bonds (15.5 per cent of GDP) to facilitate the acquisition of part of the state-owned bank by Hellenic Bank.

The move will raise the debt to 104.4 per cent at end-2018 from 95.7 per cent in 2017.

“However, we expect large primary surpluses, robust growth and contained nominal effective interest rates will reduce GGGD/GDP to 70 per cent of GDP by 2027.”

The ratio of non-performing exposures (NPEs) to total loans fell to 40.3 per cent in the first half of the year from 44 per cent in 2017, partly supported by the announced securitisation by Bank of Cyprus (BoC) of €2.7bn gross NPEs.

The acquisition by HB of CCB’s good assets and the subsequent transfer into a run-off entity of CCB’s €5.7bn NPEs portfolio are estimated to have led to a further decrease in NPEs to 30 per cent in September 2018.

“This will support a substantial decrease in contingent liabilities stemming from the banking sector, although these remain large.”

Private sector debt and non-performing exposures remain high, however, at 226 per cent and 97 per cent of GDP in 1Q18, respectively, and constrain credit growth.

Household and corporate debt stood at 105 per cent and 121 per cent of GDP and a large part of the recent decline in such debt stemmed mostly from high GDP growth, debt-to-asset swaps, loan write-offs, rather than loan repayment.

“We expect private sector deleveraging will accelerate, however, as enforcement of new legal amendments, improving earnings and recovering house prices foster debt repayment. Economic growth will likely remain resilient to a faster resolution in NPEs as rising wages, a dynamic labour market and high household savings will help preserve disposable income and smooth consumption.”

Source: Cyprus Mail

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THE ULTIMATE LIVING IN LEVANTE RESIDENCES IS GETTING STARTED!

By | Cyprus, Investment, Latest Posts, Levante Residences

With immediate access to the central Avenues and the centre of Limassol and a walking distance to the Mediterranean Sea, Levante Residences, has already started to be developed in the key location of Potamos Yermasoyias. The exterior of the project will be impressive offering a breath of fresh air.
This outstanding collection of masterful designed apartments seems like is expected to be completed in June 2020. Even more it will consist of 16 luxurious two and three bedroom apartments.

See Project

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INBUSINESS: 35% OF THE ICON SOLD

By | Latest Posts

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

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THE ICON: THE JOY OF HIGH-RISE LIVING

By | Latest Posts

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.

Invest Cyprus: S&P Raises Cyprus to Investment Grade

By | Cyprus, Investment, Journal, Latest Posts

Cypriot Finance Minister Harris Georgiades discusses the upgrade of the country’s credit rating, the banking sector, Russian investment in Cyprus, their ties with Turkey and trade relations with the U.K. He speaks exclusively on “Bloomberg Markets: European Open.” (Source: Bloomberg)

Full video available here

As Mr Georgiades twitted earlier, “Telling the story of a successful recovery, 4% growth, 3% budget surplus, & offering a commitment that fiscal discipline & promotion of reform agenda will be maintained. Aim is to broaden productive base of economy, fully heal banking sector & enhance competitiveness.”

The Cyprus Investment Promotion Agency (Invest Cyprus), presented the investment opportunities that Cyprus can offer in view of Brexit, in an event that took place in London, on the future of Europe and Cyprus. The event, which was co-organised by the Agency and Bloomberg, took place on Friday, 21st September at the new headquarters of the international news agency, under the auspices of the President of the Republic, Nicos Anastasiades.

In the framework of the event, panel discussions divided into three thematic areas were organised. Crucial actors of the Cyprus financial scene took part in the discussions, including Minister of Finance, Harris Georgiades and Minister of Energy, Commerce, Industry and Tourism George Lakkotrypis. Participants included also President of the Cyprus Securities and Exchange Commission, Demetra Kalogerou, Managing Director of the Central Bank, Constantinos Herodotou, CEO of Bank of Cyprus John Hourican, CEO of Hellenic Bank Ioannis Matsis, CEO of Deloitte Cyprus Christis Christoforou, Executive Director of PwC Kyriacos Kokkinos, Managing Director of KPMG Demetris Vakis, shareholder of EY Cyprus Stelios Demetriou, Director of City of Dreams Mediterranean and Melco Resorts & Entertainment, Andy Choy and president of Columbia Shipmanagement LTD, Mark O’Neil.

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Sugar House

By | Cyprus, Investment, Latest Posts, Properties

Sugar House offers some of the hottest amenities in the city. The beautiful private balconies and gourmet kitchens are guaranteed to ignite your love for modern living. All living rooms have oversized double-glazed windows with doors onto private balconies.

Comprising only 6 extraordinary apartments, Sugar House is an example of outstanding architectural design which incorporates luxury and comfort in every respect.

Occupancy: 07/2020

See Project

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New York Times: Standard & Poor’s lifts Cyprus into investment grade

By | Citizenship, Cyprus, Investment, Latest Posts

Standard & Poor’s lifts Cyprus into investment grade

NICOSIA, Cyprus — Standard & Poor’s has raised Cyprus’ credit grade by a notch to BBB-, lifting the country back into investment grade after near-bankruptcy five years ago.

The international rating agency pointed Friday to Cyprus government efforts that have slashed the banking sector’s bad loans from around half of all loans to one-third.

It cited moves to carve out bad loans from state-owned Cyprus Co-Operative Bank that were subsequently sold to Cyprus-based Hellenic Bank, the sale of bad assets by top lender Bank of Cyprus and new legislation helping banks to further reduce such loans.

The agency said strong growth of around 3 percent of gross domestic product over the next three years will help drive down public debt. But it added that high public and private indebtedness remain a ratings constraint.

Source: The New York Times