First client takes possession of property at The Grove Spa Resort

David Pepper was the first client to take delivery of his apartment on 15th September 2010. David is pictured here in the kitchen of his penthouse in Block A receiving the keys from Joanne Patterson from InvestinCyprus.com Developers Customer Services. David inspected the apartment, transferred his utility accounts and installed all his furniture and window coverings in a jam-packed short trip to the island. He will return in October for a holiday with his family in his new property.

David Pepper receives the keys to his penthouse in Block A from Joanne Patterson

Cyprus welcomes $150m Qatari Diar deal

Developers have welcomed Qatari Diar’s decision to invest millions of dollars in a mixed-use project in Cyprus.

The $150 million government joint venture with Qatar’s property investment fund is the latest scheme to cash in on the growing Middle East tourism market – following moves by several Cypriot developers targeting buyers from the region.

“This investment is obviously good news,” said Simos Similides, sales director of Pafilia. “Cyprus is becoming a hub for financial, services and property investment, providing a bridge between Europe and the Middle East.”

“A large number of investment and pension funds are showing interest in investing in Cyprus and direct flights from the Middle East to Cyprus are increasing, with new agreements being signed and existing services being expanded.”

Qatari Diar’s CEO, Mohmmed bin Ali Hedfa, said Cyprus had not been as hard-hit by the recession as other countries. "We believe in the economy of Cyprus," he said.

The project in Nicosia will include apartments, offices, a shopping mall and five-star hotel and the first phase will take 30 months to complete.

Source: OPP

The Grove Spa Resort Construction Update 15 June 2009

I attended the monthly site meeting in Cyprus last week and can confirm that construction at site is going extremely well.

Stephanie Fairhurst attends these meetings every month which brings together the prime contractor, expert electrical and mechanical engineering consultants, sub-contractors where appropriate all under the chairmanship of the architect.

The latest pictures from the site are below:

My Latest Visit To The Grove Spa Resort Site - Dominic Farrell

I was in Cyprus last week where the temperatures were 30C with clear skies on most days. I went to the Grove Spa Resort site meeting and found the progress made by GCC to be excellent. The scheme is now beginning to take shape as evidenced by the pictures below.

Also, our decision to purchase the addtional plot of land at Christmas 2008 next to D Block has been fully justified and rewarded as the layout looks fantastic.

Regards

Dominic Farrell

Incredible Progress At The Grove Spa Resort - 12th May 2009

Progress 12th May 2009

Construction is moving ahead very rapidly at The Grove Spa Resort with swarms of workmen busy on site. The basements of residential blocks B, C, D and G are completed and construction has moved up to the ground floor level. The forest of reinforced steel and non-stop pouring of concrete is shaping the rest of the underground level, including the supports for the ground level pools and the layout of the Spa facilities.

The rapid pace of construction and large scale of the project requires top quality supervision and control and this is the team from GCC responsible for keeping the site under control and on time: From left to right: the site foremen Aristotellis Aristotelous and Christos Ioannou; the Project Manager Nick Iacovou and the project engineers Yiannis Stephanides and Nicos Zachariou.

Latest Construction Site Photos - 14 April 2009

The Grove Spa Resort, Cyprus - Latest Construction Update 8 April 09

I would like to thank the many homebuyers and investors at The Grove Spa Resort who have expressed their appreciation and support for the construction blog.

The photographs below were taken this week and show remarkable progress, particularly given the severe weather conditions recently.



Dominic Farrell

Further Update From The Grove Spa Resort Construction Site

We have a mass of photographs coming through from the Grove Spa Resort site as our intrepid operations manager, Jonathan Fairhurst, known in the company as "Nanook of the North" has been on-site all week.

This is his latest report today:

As you'll see there is a huge amount of activity today on both plots. The membrane has been laid under the Spa building and Blocks E & F and GCC were in the process of pouring the concrete on top.

The temporary wooden boundaries to the rear of Blocks C & D were also being erected. The concrete base for the lifts had been delivered and were being manoeuvred into position. On Plot A, the initial concrete base had been completed and the steel reinforcement was being constructed - this was mostly done for Block B.

Have a great weekend

Dominic Farrell

The Grove Spa Resort, Mazotos, Latest News

The latest news from the Construction site is:

• The concrete slab has been laid down for B Block
• The footings for the lift shafts have been excavated
• The reinforced steel has arrived ready to be used
• The footings for the spa hydro therapy pool is also being dug

The Grove Spa Resort, Cyprus - Latest Construction Update 12th March 2009

We've had a delay to the construction due to the severe weather in Cyprus, with torrential rain for the past 4 weeks or so and subsequent "wash-out" on site.

However, taking a strategic view of events the rain has been fantastic for the dams and gardens and has been a very postive event for the island as a whole. GCC are back on site and laying the membrane today in preparation for the slab.

I was in Cyprus last week for the monthly on-site "Progress Meeting" which is led by our architect, Constantinos. I was very impressed with the conduct of the meeting and the clear level of expertise we have in the team of consultants and main contractor.

Thanks for the very postive comments we have recieved about the value of this construction blog - much appreciated.

Please find some update photos taken on the site today:

Best wishes

Dominic Farrell

Investors Plan Ahead For Their Grove Spa Rentals

This is an e-mail from Richard Smith, an investor in The Grove Spa Resort, who gave permission for us to publish it here. From experience, those investors who think well ahead of completion about their rentals and property management are very successful:

"Last month I had a chat with an independent travel agent (a friend recommended him to me). The idea was to advertise our UK holiday let, however, we got onto the subject of Cyprus and I told him about our investments in The Grove Spa Resort, Mazotos.

He knows Cyprus well and has many contacts in the travel industry. He informed me that a number of them would be interested in taking a block booking of 10 weeks for themselves to rent out to their clients. (The Larnaca area has very few quality properties and none that will compare to the Grove Spa Resort once completed).

I am currently producing a marketing pack so that I can set up a meeting with the companies in question. If all goes well I will be buying more properties there!"

Property Buyers Delighted As Final Approval Is Given For 14 New Golf Courses In Cyprus

The Cyprus government has finally approved the creation of 14 new golf courses, which will bring the total number on the island to 17. The decision was finalised at a cabinet meeting last Thursday (5th February 2009).

Government Spokesman Stefanos Stefanou said the actual decision had been taken by the previous government.

“It was taken for the purpose of strengthening the tourism product in Cyprus and boosting economic activity,” he said.

Dominic Farrell, director of InvestinCyprus.com Developers, the company behind the much acclaimed Grove Spa Resort in Mazotos says:

“This is excellent news for homebuyers and investors alike and will provide a substantial boost to rental demand, re-sales and economic activity in general.

Additionally, seasonality will be reduced in areas surrounding courses as the winter months in Cyprus are ideal for playing golf. Combined with the increase in low cost flights from airlines such as easyJet, we will see a sharp increase in visitors to the island.

Owners of high quality properties, such as The Grove Spa Resort and Palm Spa Resort, with all-year-round facilities will benefit most.”

For an article by Jet-to-Let Magazine on the benefits of investing near golf courses click here

The Grove Spa Resort, Cyprus - New Land, New Facilities

I have just got back from Cyprus where I spent the week working with Constantinos the architect and the whole consultancy team to finalise the changes to the plans for the The Grove Spa Resort.

Back in November 2008, we bought a new piece of land adjacent to The Grove Spa Resort that recently became available. We felt this offered a fantastic opportunity to improve the overall layout of the scheme and add in extra facilities.

The purchase of the extra 780m2 of land has enabled us to do several things to considerably enhance the Resort:

We have created a much larger central space between Blocks D & E and added a further pool for children with a beach-style entry and waterfalls plus more gardens and sunbathing space around this new pool.

We have also been able to extend the shops. The size of the supermarket has increased from 95m2 to 150m2 which means we can now offer an on-site bakery and off-licence in addition to general groceries and fresh food.

The second shop has been increased from 53m2 to 90m2 to allow an extra retail facility in addition to the on-site re-sales, lettings and management office.

And finally we have added three new 1 bedroom apartments plus two 2-bedroom apartments to the second floor of Block C.

Please see the attached site map to see the new scheme layout. I think you will agree that the overall design of the scheme is significantly enhanced and that the additional pool, gardens and shops provide increased amenity at no extra cost, thereby enhancing your investment and offering even better value for money.

Stephanie Fairhurst

InvestinCyprus.com Developers

For a larger image, click here