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Real Estate: Quick reflexes required

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The Covid-19 pandemic has certainly created a new reality for society and the daily lives of citizens, the functioning of businesses, and has changed the way people interact with each other around the world.

At a time when the Cyprus Government has managed and is still managing the health crisis very effectively, the economic consequences of the pandemic on businesses and citizens are the next big bet. The support for employees and businesses with emergency financial assistance programs and the recent measures announced are proving vital. There are still many questions about the post-coronavirus era and the ways in which the Cyprus economy is restarting.

One of the pillars of the country’s economy is undoubtedly the real estate industry, which has contributed the most in times of crisis, especially in 2013. It has been proven in the past that the cooperation between the private and public sector has led to the adoption of appropriate decisions in favour of the country’s economy.

In order to deal with this unprecedented health crisis, the economy must rely on its strongest weapons, which are tourism and real estate. As for the real estate sector, initially, the industry professionals should turn their attention to locals, especially to young professionals and young couples, where in turn the Authorities and the banks should give the necessary incentives through similar programs implemented by other countries (for example “Help to buy” in the UK), in order to enable citizens to join the ladder.

In addition, tax incentives should be given to prospective buyers, both local and foreigners, so that the acquisition of a property becomes more attractive, while the creation of an investor customer service centre will greatly reduce the time required to complete the transactions.

Furthermore, the continuation and completion of reforms to unify processes and introduce e-government in all stages of the examination of town planning applications will shorten all the procedures for issuing town planning permits.

Supporting the purchase of properties and the construction industry has undoubtedly proven to be very important for the Cyprus economy. In this unprecedented crisis, for which we do not yet have enough data on the duration of its effects on the economy, we must show the same quick reflexes as we have in taking precautionary measures to protect the health of citizens. Adaptability, quick reflexes as well as the cooperation between the private and public sector are the key factors that will accelerate the recovery of our country’s economy.

Cyprus reopens its gates to the world

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June 9, was an important day, as Cyprus took a big step by reopening Larnaca and Paphos airports after the almost three-month ban on flights to and from Cyprus, as part of the third phase of easing the restrictive measures taken due to the coronavirus pandemic. Cyprus has launched an online portal where all incoming passengers must obtain a Cyprus Flight Pass prior to boarding.

A mood of optimism prevails in the Government, derived from the intense interest as expressed by new airlines but also from existing ones to add new routes from and to Cyprus, that up until today did not provide.

According to the forecasts of the Ministry of Transportation, by the end of the summer, more than one million visitors are expected in Cyprus and 30% of them are estimated to be tourists.

June 9, marks the return to normality, and it will boost business activity in even more sectors of our economy. The Director of Imperio, Mr. Yiannis Misirlis, stated: “It is a day of optimism and return to normalcy. We really missed the contact with our partners and customers from abroad. The reopening of the airports and the arrival of visitors from other countries will stimulate and give a big boost to many sectors of the Cypriot economy beyond tourism.”

(Photo by Iakovos HATZISTAVROU / AFP)

It is vital for the smooth operation of the easing of restrictions, to respect the guidelines set by the Ministry of Health and follow strict hygiene measures for the prevention of coronavirus, by citizens and visitors of Cyprus. Airports operate under strict protocol with access permitted only to passengers and employees. Adherence to the measures will maintain stability towards a return to normality.

viewtolimassol, limassoltower, icon, imperio, realestate, inbusiness, constructionprogress, cyprus


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Μετά τον εντυπωσιακό 10ο όροφο του Icon – που αποτέλεσε ορόσημο για την κατασκευή του κτηρίου και θα φιλοξενήσει το πολυτελές εστιατόριο και την πισίνα υπερχείλισης – να έχει κατασκευαστεί πριν ακόμα εφαρμοστεί το κλείσιμο των εργοταξίων, στο εντυπωσιακό έργο της Imperio πλέον έχει ολοκληρωθεί και η κατασκευή του 11ου ορόφου του κτηρίου που θα αποτελέσει σύμβολο για τη Λεμεσό.

Στο συγκεκριμένο όροφο θα βρίσκεται το υπερσύγχρονο Fitness & Yoga Club που θα προσφέρει τη δυνατότητα στους κατοίκους του Icon αλλά και στους πολίτες της πόλης να εξασκούν σώμα και πνεύμα, έχοντας απρόσκοπτη, περιμετρική θέα προς τη Λεμεσό και το γαλάζιο της Μεσογείου. Ένα εξελιγμένο fitness centre, με τμήματα Yoga και studio εξάσκησης, περιτριγυρισμένο από υαλοπρόσοψη που ενισχύει τη θέαση από όλες τις πλευρές του ορόφου.

Στο φουλ οι μηχανές για το 12ο όροφο
Το προηγούμενο διάστημα η κατασκευή του 11ου ορόφου του Icon ολοκληρώθηκε. «Με την ολοκλήρωση του 11ου ορόφου κι έχοντας φτάσει σε ύψος 67 μέτρων, τώρα στρεφόμαστε στην κατασκευή του 12ου ορόφου του έργου. Οι εργασίες εσωτερικά των ορόφων κινούνται με τους ίδιους ταχείς ρυθμούς που κινούνται οι εξωτερικές εργασίες του κτηρίου. Κινούμαστε δυναμικά προς την ολοκλήρωση του Icon σε λιγότερο από 12 μήνες», σημειώνει ο επιβλέπων μηχανικός του έργου κος Μάριος Ιωάννου.

Ευλαβικά τηρούνται τα μέτρα πρόληψης κατά του κορωνοϊού στο εργοτάξιο
«Λαμβάνονται όλα τα απαραίτητα μέτρα προστασίας κατά του Covid-19 μέσα στο εργοτάξιο, όπως είναι η καθημερινή απολύμανση των χώρων του έργου, η θερμομέτρηση των υπαλλήλων και των επισκεπτών πριν την είσοδο τους στο χώρο του εργοταξίου, η χρήση μασκών και η τήρηση των απαιτούμενων αποστάσεων μεταξύ των εργαζομένων. Διενεργήσαμε, επιπλέον, δειγματοληπτικό έλεγχο με τεστ κορωνοϊού στο προσωπικό του εργοταξίου, με όλα τα δείγματα να είναι αρνητικά», συμπληρώνει ο κος Ιωάννου.

Κρατήσεις από Ισραήλ με το άνοιγμα των αεροδρομίων
Το Icon διαθέτει 54 πολυτελείς κατοικίες με το 58% αυτών να έχει ήδη πωληθεί. «Οι συνθήκες της πανδημίας είναι αναπόφευκτο να περιορίσουν τις συναλλαγές, παρόλα αυτά με το άνοιγμα των αεροδρομίων στις 9 Ιουνίου, πολλοί Ισραηλινοί έχουν κάνει κρατήσεις για να επισκεφθούν την Κύπρο, ενώ ενθαρρυντικά μηνύματα έρχονται και από χώρες όπως η Ρωσία, η Σαουδική Αραβία αλλά και η Ινδία που φαίνεται να μπαίνει δυναμικά πλέον στην αγορά ακινήτων της Κύπρου», τονίζει σε μήνυμά του ο διευθυντής της Imperio κος Γιάννης Μισιρλής.

Source: Inbusinessnews

Limassol Molos seafront

Move over, Greece: Cyprus is the next big under-the-radar vacation destination

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Greece may be a perennial hotspot, but it’s far from the only Mediterranean gem worth noting. Looking to expand your travel horizons? It’s time to set your sights on Cyprus.

Originally settled by Mycenaean Greeks, the island nation offers archaeological ruins, ornate churches, and mouth-watering traditional cuisine. Add to that stunning natural scenery.

Another benefit of this low-key locale is that it’s far less touristy and much cheaper than its flocked-to counterpart. That’s good news for both crowd-averse and budget-conscious travellers. And according to the European Union’s 2012 Eurobarometer study, 73% of the country speaks English.

Source: USA Today

Limassol Molos seafront

Misirlis: Encouraging signals for Real Estate

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Construction sites have re-opened and work restarted, with the local construction sector pondering the overall impact the health crisis will have on the industry. Some plans for new projects are now in a state of uncertainty, some are temporarily postponed and delays in the completion of projects in progress are now likely.

Yiannis Misirlis, Director of Imperio Group and Deputy Chairman of the Cyprus Land and Building Developers Association, in his recent statement in Limassol Chamber noticed that the impact of the coronavirus on the real estate market is undoubtedly significant, with construction sites and sales offices closed for more than 45 days during the lockdown, the purchasing interest of foreigners has understandably become less.

However, Mr. Misirlis pointed out, real estate remains the first form of investment to turn to in times of crisis, which is why the messages coming from Arab countries, Israel and Russia are encouraging. Although, he explains, we should not expect impressive moves in the immediate period, at least until further easing of the measures and the re-opening of airports.

Source: Limassol Chamber

Imperio Print & Play Activities

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Print & Play Activities

paper roll tube butterfly

Paper Tube Butterfly – Instagram Vs Reality

  1. Imperio Butterfly

  2. Colouring pages

  3. Connect the dots

Paper Tube Butterfly | Materials:

paper roll tube, paint, pom poms, scissors, brush, butterfly


  • Paper tube (empty toilet paper rolls)
  • Pipe cleaner
  • Black marker
  • Paint and brushes or
  • Colour pencils / markers etc
  • Scissors
  • Glue or adhesive tape
  • Small pom pom (optional)

*Always supervise baby and toddler activities*

Colouring pages | Materials:


  • Colour markers
  • Paint and brushes
  • Colour pencils / markers etc
  • Scissors
  • Small pom poms or other decorative craft materials (optional)

*Always supervise baby and toddler activities*


Connect the dots | Materials:


  • Black marker
  • Pencil or pen
  • Colour pencils / markers etc

*Always supervise baby and toddler activities*


covid19, coronavirus, medicalsupport, butterflyfoundation, imperio, alphanewslive, stayhome, staysafe, togetherwecan

Butterfly Foundation: Δωρεά 10 αναπνευστήρων & 20,000 ιατρικών στολών προς ΟΚΥπΥ

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Το Butterfly Foundation, με πρωτοβουλία της Imperio και τη στήριξη 12 άλλων εταιρειών, προχώρησε σε δωρεά εξοπλισμού ύψους πέραν των 300,000 ευρώ (€ 300,000) προς τον Οργανισμό Κρατικών Υπηρεσιών Υγείας για στήριξη των υπηρεσιών υγείας, των επαγγελματιών υγείας και την κάλυψη των εκτάκτων αναγκών που προκύπτουν από την εξάπλωση του ιού COVID-19 στη χώρα μας.

Στις δύσκολες ώρες που περνά η χώρα μας αλλά και ολόκληρη η ανθρωπότητα το Butterfly Foundation, έπειτα από συνεννόηση με τον ΟΚΥπΥ και το Υπουργείο Υγείας ανέλαβε το κόστος της παραγγελίας και παράδοσης 10 ιατρικών αναπνευστήρων τελευταίας τεχνολογίας καθώς επίσης και 20,000 ιατρικών στολών υψηλών προδιαγραφών.

Η πιο πάνω δωρεά έγινε κατορθωτή με την σημαντική στήριξη των πιο κάτω εταιριών τις οποίες και ευχαριστούμε:

Αλφαμέγα Υπεραγορές, Αlpha TV Κύπρου, Αρτοποιία Ζορμπάς, Columbia Ship Management, Deloitte, Exness, Imperio, Loutsios Group, Metaquotes Software, Morcel, Τράπεζα Κύπρου, Τσιμεντοποιία Βασιλικού και Windsor Brokers

Η πράξη αυτή αποτελεί την ελάχιστη στήριξη προς τις υπεράνθρωπες προσπάθειες που καταβάλουν οι επαγγελματίες ιατρικού και παραϊατρικού προσωπικού για την καταπολέμηση του ιού και την προστασία όλων μας.

#ΘαΤαΚαταφέρουμε #ΜένουμεΣπίτι


israel, realestate, jerusalem, imperio, cyprus, limassol

Home sales slump in Israel’s biggest cities, whilst in Limassol, property investors make money

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The number of annual real estate deals has fallen in recent years in Jerusalem, Tel Aviv and Haifa, the Madlan website reports.

A slump in the number of deals in Israel’s big cities and a slump in the luxury housing market and price rises by tens of percentage points in many cities – these were the more outstanding findings in a report of Israel’s real estate market over the past decade by the website Madlan.

Madlan CEO Eitan Singer explains that his company gathers data about the real estate market for a range of sources including deals published by the Israel Tax Authority, data from the Central Bureau of Statistics, the number of Airbnb apartments in every neighborhood, and more.

Jerusalem losing ground

According to the Central Bureau of Statistics, Israel’s population grew 19% over the past decade – but Madlan’s data shows less deals in Israel’s biggest cities.

Jerusalem, Israel’s biggest city, had the largest number of deals but it lagged behind population growth. For example in 2010, Jerusalem’s population was 40% larger than Tel Aviv yet there were 10% more deals in Tel Aviv.

Madlan believes that this was due to the unique characteristics of Jerusalem – a large young population, illegal construction, and the Arab sector where young adults live with their parents until they get married.

In Tel Aviv itself, the number of deals annually has fallen from 6,686 in 2010 to just 3,826 in 2019. Madlan attributes this to the sharp rise rises in the city and new measures that have taken investors out of the market such as reduced financing and higher purchase taxes on second apartments.

Singer said, “In Tel Aviv, we see a fall in the number of deals from the middle of the decade. 2018 was the low-point of the decade in terms of new deals – due to the rise in prices in the city, which greatly reduced the number of potential buyers of new apartments. The capital required to buy an apartment is higher today even in neighborhoods in south Tel Aviv and Jaffa – in fact it has more than double itself in some neighborhoods.

In Haifa too there was a fall in the number of deals from 5,393 in 2010 to 3,525 in 2019.

Read more: en.globes.co.il

Greek Prime Minister Kyriakos Mitsotakis, his Israeli counterpart Benjamin Netanyahu and Cypriot President Nikos Anastasiadis shake hands in Athens

Leaders From Israel, Cyprus, Greece Sign EastMed Gas Pipe Deal

By | cip, Cyprus, Latest Posts

Cyprus President Nicos Anastasiades, Greek Prime Minister Kyriakos Mitsotakis and Israeli Prime Minister Benjamin Netanyahu attended in Athens Thursday the signing ceremony for the accord to construct the Eastern Mediterranean natural gas pipeline.

The 1,900-kilometre (1,181 miles) link will connect recently discovered, and to-be-found, gas fields in the eastern Mediterranean basin with European markets through Cyprus, Greece and Italy. The project is being developed by IGI Poseidon SA, a joint venture of Greece’s state-owned supplier Depa SA and Edison SpA. Italy is set to sign the agreement at a later date.


Kyriakos Mitsotakis, center, Benjamin Netanyahu, right, and Nikos Anastasiadis shake hands in Athens on Jan. 2. Photographer: Aris Messinis/AFP via Getty Images

“Today, we did not just sign an advantageous agreement, but also cemented our decision for strategic engagement in a region that’s in need of cooperation,” Mitsotakis said at the ceremony. “EastMed is not a threat to anyone.”

The accord comes just as tensions are increasing in the region after Turkey’s contentious agreement that delineates maritime borders with Libya and affirms claims to areas of the Mediterranean the pipeline may cross. The three signatory countries all oppose the deal.

Gas Finds and Maritime Claims in the Mediterranean

Israel’s cooperation with Cyprus & Greece “adds to security and prosperity in the region” and “we are not turning against any other country,” Netanyahu said.

The deal allows for other countries to join the project, Anastasiades said.

EastMed is not intended to send a message to Turkey, but to promote cooperation in the energy sector at a regional level, Greek Energy Minister Kostis Hatzidakis said Dec. 24.

Turkey’s Foreign Ministry spokesman Hami Aksoy said the agreement was a “futile” attempt to exclude Turkey and the breakaway Turkish Cypriot state from the energy projects in the region, adding that Turkish Cypriots have equal rights to the island’s natural resources.

“Turkey is the most commercially feasible and secure route for the utilization of the natural resources in the Eastern Mediterranean and their transfer to the consumer markets in Europe, including Turkey” Aksoy said in a written statement late Thursday. Any project that disregards Turkey “cannot succeed,” he said.

The accord includes a clause for ensuring the security of the pipeline’s operations and contains a single regulatory framework for the facilitation of the project and a common tax regime that will govern it.

Gas purchase

Depa also signed on Jan. 2 with Energean Oil & Gas Plc a letter of intent for the potential sale and purchase of 2 billion cubic meters of natural gas per year from Energean’s fields in offshore Israel. The deal is considered a step for the project’s commercial viability and its realization. The amount represents 20% of the pipeline’s initial capacity of 10 bcm a year.

IGI Poseidon in December agreed to fast-track development of the EastMed pipeline and take a final investment decision within two years. The European Union has said it supports the project because it will help diversify its gas supplies and boost energy security. The target of the pipeline is to transport 20 bcm a year while the budget for the initial capacity stage is 5.2 billion euros ($5.81 billion).

U.S. Secretary of State Michael Pompeo also underlined American backing for the pipeline when he attended a Cyprus-Greece-Israel trilateral summit in Jerusalem in March.

— With assistance by Selcan Hacaoglu, and Constantine Courcoulas

Source: bloomberg.com

Cyprus applied for Schengen Membership in September

By | cip, Cyprus, Latest Posts

The Minister of Foreign Affairs in the Republic of Cyprus Nikos Christodoulides told the MPs on Monday, November 5, that the government has applied to become part of the Schengen Area earlier in September.

Speaking to the House Committee on Finance, while presenting the proposed budget for 2020, Minister Christodoulides said that the Republic of Cyprus has declared its readiness to become a member of the Schengen Area, and now it is up to the EU to start the evaluation process.

The government has submitted the application for security reasons and we are now expecting the European Union to come and start its evaluation process which is divided in five parts,” Minister Christodoulides said.

Cyprus is one of the four EU but non-Schengen countries, alongside Romania, Bulgaria, and Croatia, the three of which have completed the five-stage evaluation process and are now waiting for admission.

The country has been unable to join the Schengen area so far, due to its territorial division, that has followed the events of 1974, when a coup attempt took place in the island country.  It is, however, part of the European Union since May 2004.  In January 2008 Cypriots started using the Euro as the official currency of the country.

After his speech in front of the MPS, Minister Christodoulides was asked by the MP Marinos Sizopoulos regarding the issue of the Golden Visas granted by the Republic of Cyprus. The Golden visa operated by Cyprus is a scheme that permits foreigners who invest a specific amount of money in the country, to obtain citizenship, and an EU passport at the same time, which grants the holder with the right to move through the whole EU and most other countries located in Europe.

In January 2019, the European Commission had presented a report on investor citizenship and residency schemes operated by a number of EU countries, which identified the risks coming from such schemes as money laundering, tax evasion, and corruption.

Among others, the reports highlighted that in the EU, Bulgaria, Cyprus, and Malta were the only countries granting investors with citizenship without the obligation of physical residence. It also outlined the steps that must be taken to address these concerns.

In mid-February, the cabinet of the government of Cyprus approved several changes to the golden visa scheme, in accordance to the EU guidelines, including stricter criteria for applicants, background checks by a specialized foreign firm, and immediate rejection of applicants that have already been rejected from any other EU member.

Christodoulides told Sizopoulos that due to this issue Cyprus has asked the EU to proceed with the first part of the Schengen membership application evaluation so that the country could have access to the EU inside information.

That’s how we can have access to EU inside information so as to strengthen the country’s security in relation to people coming over to Cyprus,” Christodoulides said.

Source: schengenvisainfo.com