Industry Expert Advice

Real Estate and Construction in Cyprus

The Real Estate and Construction (RE&C) market has always been one of the main drivers of the Cyprus economy. Even though it has gone through a downturn during the recent economic crisis, it is showing a recovery turnaround in the last years. As the economy in Cyprus continues its steady recovery, and based on the recent announcements of a number of significant development projects such as the Casino Integrated resort in Limassol, and the Ayia Napa Marina, the recovery of the Cyprus market is expected to continue its positive course in the foreseeable future.

The RE&C market incorporates single dwellings to large integrated property developments, infrastructure projects, marina integrated resorts, and BOT/PPP projects. The challenges facing the market, range from the appropriate planning/ feasibility stage, to the tax regime affecting each project, and eventually to the execution and completion phase.

We at ServPRO, through our extensive expertise and experience in RE&C projects, can advise a prospective investor at each stage of the development / construction phase which incorporates:

  • Feasibility studies
  • Business planning
  • VAT/ Tax advice
  • Raising of required funding (capital from investors and/or bank debt)
    • Preparation of information teaser / memorandum
    • Design of financial schemes for investors
    • Reviewing of related legal documents
  • Design of financial reporting / controls
  • External / internal audit of the project

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