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!"
February 17, 2009
February 13, 2009
InvestinCyprus.com Developers Operations Manager Beats The Snow!
The weather has been particularly bad in the UK recently and we have all had to improvise in order to get into the office. Jon, operations manager at InvestinCyprus.com Developers, did particularly well.
A bit different from Cyprus!
February 12, 2009
Construction Meeting Today And Appointment Of Sub-Contractors
GCC has been quick off the mark since their appointment as the prime contractor for the main construction of The Grove Spa Resort.
Earlier this week the management team were on site with the topographers and today the sub-contractors will be appointed at a meeting in Larnaca.
February 10, 2009
PRESS RELEASE: Appointment Of General Constructions Company Ltd (GCC) As Prime Contractor For The Grove Spa Resort, Cyprus
PRESS RELEASE The Grove Spa Resort, Cyprus – Appointment of General Constructions Company Ltd (GCC) as Prime Contractor.
InvestinCyprus.com Developers has appointed the General Constructions Company (GCC) as the prime contractor for its landmark 5 Star mixed-use scheme, The Grove Spa Resort in Mazotos, Cyprus.
GCC was founded in 1947 and is one of the leading construction companies in Cyprus with its head office in Nicosia.
GCC has constructed many prestigious projects in Cyprus, including: The Annabelle 5 Star Hotel in Paphos, Ayia Napa Water Park, IKEA, and The Embassy of The People’s Republic of China to name a few.
The company has also undertaken large projects for the Cyprus government and UK Ministry of Defence.
Further, the company has successfully operated in Saudi Arabia for over 30 years and is now establishing a strong presence in Bahrain.
The motto of GCC is “Quality First” and the company this week celebrates its 62nd year of delivering quality construction projects.
Commenting on the appointment of GCC, Stephanie Fairhurst, Managing Director of InvestinCyprus.com Developers said,
“ The appointment of GCC as our main contractor shows our commitment to delivering a top quality resort by employing only the very best professionals for this outstanding project. GCC has a strong reputation for excellence and professionalism and we are delighted to be working together.”
Phase 1 of the build of The Grove Spa Resort was completed at Christmas before the purchase of an additional plot of land to add further facilities to the scheme.
The revised plans have now been approved by the authorities and Phase 2 of the construction begins this week.
InvestinCyprus.com Developers Director Dominic Farrell says:
“We couldn’t refuse the opportunity to purchase an additional plot of land adjacent to the scheme and buyers have been extremely pleased with the extra value the enhanced facilities have provided.”
Mr Farrell continues, “Testament to the appeal of The Grove Spa Resort is that, even in the present climate, we still have strong interest from buyers and continue to make sales, despite having sold 80% of the scheme before we started construction.”
Notes for Editors:
The Grove Spa Resort in Mazotos, Cyprus is a 5 star mixed-use scheme due for completion in 2010.
In addition to 128 residential units, there is a restaurant, supermarket, on-site rental and resale office, concierge service, health spa, gymnasium, dance studio, hydrotherapy pool, 3 outdoor pools, tennis court, sports TV room, children’s play area and secure underground parking and storage units.
There has been worldwide interest in this project with buyers from UK, Ireland, Cyprus, Hong Kong, Poland, Malaysia, Dubai, Bahrain, Sweden, Italy, India, South Africa, Singapore and Azerbaijan.
For further information and interviews please contact Dominic Farrell on +44 (0) 151 244 5432
InvestinCyprus.com Developers has appointed the General Constructions Company (GCC) as the prime contractor for its landmark 5 Star mixed-use scheme, The Grove Spa Resort in Mazotos, Cyprus.
GCC was founded in 1947 and is one of the leading construction companies in Cyprus with its head office in Nicosia.
GCC has constructed many prestigious projects in Cyprus, including: The Annabelle 5 Star Hotel in Paphos, Ayia Napa Water Park, IKEA, and The Embassy of The People’s Republic of China to name a few.
The company has also undertaken large projects for the Cyprus government and UK Ministry of Defence.
Further, the company has successfully operated in Saudi Arabia for over 30 years and is now establishing a strong presence in Bahrain.
The motto of GCC is “Quality First” and the company this week celebrates its 62nd year of delivering quality construction projects.
Commenting on the appointment of GCC, Stephanie Fairhurst, Managing Director of InvestinCyprus.com Developers said,
“ The appointment of GCC as our main contractor shows our commitment to delivering a top quality resort by employing only the very best professionals for this outstanding project. GCC has a strong reputation for excellence and professionalism and we are delighted to be working together.”
Phase 1 of the build of The Grove Spa Resort was completed at Christmas before the purchase of an additional plot of land to add further facilities to the scheme.
The revised plans have now been approved by the authorities and Phase 2 of the construction begins this week.
InvestinCyprus.com Developers Director Dominic Farrell says:
“We couldn’t refuse the opportunity to purchase an additional plot of land adjacent to the scheme and buyers have been extremely pleased with the extra value the enhanced facilities have provided.”
Mr Farrell continues, “Testament to the appeal of The Grove Spa Resort is that, even in the present climate, we still have strong interest from buyers and continue to make sales, despite having sold 80% of the scheme before we started construction.”
Notes for Editors:
The Grove Spa Resort in Mazotos, Cyprus is a 5 star mixed-use scheme due for completion in 2010.
In addition to 128 residential units, there is a restaurant, supermarket, on-site rental and resale office, concierge service, health spa, gymnasium, dance studio, hydrotherapy pool, 3 outdoor pools, tennis court, sports TV room, children’s play area and secure underground parking and storage units.
There has been worldwide interest in this project with buyers from UK, Ireland, Cyprus, Hong Kong, Poland, Malaysia, Dubai, Bahrain, Sweden, Italy, India, South Africa, Singapore and Azerbaijan.
For further information and interviews please contact Dominic Farrell on +44 (0) 151 244 5432
February 9, 2009
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
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
February 6, 2009
Cyprus Property - Comments By Paul Collins
This is an interesting article by Paul Collins, who is a respected commentator in the overseas property industry, which you may find of interest.
Dominic Farrell
Cyprus has long been an island that has offered Britons everything they like to get from a holiday destination - sandy beaches, blue seas, a long and hot summertime, friendly locals who can speak English and of course, plentiful golf courses.
And it seems that the former British colony may soon have more of the latter to offer, with the news that plans to build 14 new golf courses have been proposed.
The effect such development will have on tourists is clear as it is unlikely that any keen golfer will not enjoy being tested by a fresh set of holes, but how could such a move impact upon the decisions of property developers?
According to Paul Collins, the property editor at BuyAssociation, an increase in golfing opportunities should provide a boost to the property market in the area.
"Whenever leisure facilities like golf courses go in, it does tend to give a bit of fresh impetus to the property market. There have always been golf courses in Cyprus and it has always been a popular reason for people going over there," he said.
Mr Collins added that some of the courses on offer are "of a very high standard".
Furthermore, it is not just property developments in the locality of the proposed golf courses that will see the positive effect of their arrival, Mr Collins noted.
He stated that due to the size of the island, it is probable that the new leisure facilities will profit the entire community.
"The whole island will probably benefit from this. It's not a massive island and it is quite easy to get around, so there are plenty of places that can benefit from this. People don't necessarily want to live right next door to the attractions," he commented.
And if this news is not enough to tempt overseas property buyers to investigate the options in Cyprus, hard data from Statistical Office of the European Communities might do the trick.
It released figures last year that suggest population growth in Cyprus will be the strongest over the next half a century, compared to the other 25 countries in the European Union. It said that the number of people living on the island will swell by 66 per cent, growing to 1.12 million by 2035 and to 1.32 million in 2060.
This is despite the fact that the overall population of the EU will gradually decline over the same period by 2.1 per cent.
Overseas property investors who 'putt' their trust in Cyprus now, may well find they land on a small patch of green surrounded by the rough.
Source: Assetz News
Dominic Farrell
Cyprus has long been an island that has offered Britons everything they like to get from a holiday destination - sandy beaches, blue seas, a long and hot summertime, friendly locals who can speak English and of course, plentiful golf courses.
And it seems that the former British colony may soon have more of the latter to offer, with the news that plans to build 14 new golf courses have been proposed.
The effect such development will have on tourists is clear as it is unlikely that any keen golfer will not enjoy being tested by a fresh set of holes, but how could such a move impact upon the decisions of property developers?
According to Paul Collins, the property editor at BuyAssociation, an increase in golfing opportunities should provide a boost to the property market in the area.
"Whenever leisure facilities like golf courses go in, it does tend to give a bit of fresh impetus to the property market. There have always been golf courses in Cyprus and it has always been a popular reason for people going over there," he said.
Mr Collins added that some of the courses on offer are "of a very high standard".
Furthermore, it is not just property developments in the locality of the proposed golf courses that will see the positive effect of their arrival, Mr Collins noted.
He stated that due to the size of the island, it is probable that the new leisure facilities will profit the entire community.
"The whole island will probably benefit from this. It's not a massive island and it is quite easy to get around, so there are plenty of places that can benefit from this. People don't necessarily want to live right next door to the attractions," he commented.
And if this news is not enough to tempt overseas property buyers to investigate the options in Cyprus, hard data from Statistical Office of the European Communities might do the trick.
It released figures last year that suggest population growth in Cyprus will be the strongest over the next half a century, compared to the other 25 countries in the European Union. It said that the number of people living on the island will swell by 66 per cent, growing to 1.12 million by 2035 and to 1.32 million in 2060.
This is despite the fact that the overall population of the EU will gradually decline over the same period by 2.1 per cent.
Overseas property investors who 'putt' their trust in Cyprus now, may well find they land on a small patch of green surrounded by the rough.
Source: Assetz News
January 29, 2009
Meet The Team Behind The Grove Spa Resort, Cyprus
In a series of "Meet the Team" blog postings, we intend to introduce you to the professional team behind the InvestinCyprus.com Developers' 5 star scheme, The Grove Spa Resort in Mazotos.
We have assembled the best possible professional advisers who are the leaders in their field. As all buyers know the developers, Dominic Farrell and Stephanie Fairhurst, you will not necessarily meet the team during the construction. So here we are:
First up is the Architect and Civil Engineer seen here on site. Further information about these two key professionals will be posted tomorrow.
Best wishes
Dominic Farrell
We have assembled the best possible professional advisers who are the leaders in their field. As all buyers know the developers, Dominic Farrell and Stephanie Fairhurst, you will not necessarily meet the team during the construction. So here we are:
First up is the Architect and Civil Engineer seen here on site. Further information about these two key professionals will be posted tomorrow.
Best wishes
Dominic Farrell
January 28, 2009
TheMoveChannel Investigates Disneyland Of The Mediterranean In Larnaca
Disneyland of the Mediterranean (in Larnaca)
Last week, it was announced that Russian investors have applied for planning permission to build a brand new Disney resort in Cyprus, which would be the largest ever single investment made on the island -
TheMoveChannel investigates what this would mean for the tourism and property markets in the country...
Who would have thought that Mickey and Minnie would ever make an appearance in Cyprus?
Following the Russian based Boema Group's announcement that it wishes to develop the leased state land near the UN buffer zone around the Larnaca - Famagusta border, this could become a reality.
The conglomerate had originally chosen Serbia as the ideal location for some Disney magic but Cyprus was eventually decided upon after its political stability, EU membership and year round sunshine were highlighted.
The state owned land lies between Turkish and Cypriot lines and the Russian Government are hoping that building the resort there will help to merge the Turkish and Cypriot communities.
"This £754 million project will be the largest investment in our country to be made with foreign investment capital," said Cypriot Minister of Finance, Mr. Charilaos Stavrakis.
The park is seeking to gain the reputation of being the ‘EuroDisney of the Mediterranean' and the rides in the theme park will be inspired by Greek mythology and Cypriot history, such as a daily performance of the naval Battle of Salamis.
A reconstruction of the ancient Kourion Amphitheatre, the Penatadaktylos mountain range and the Baths of Aphrodite will also be wowing visitors. If the park does go ahead, its gates are due to open in 2012, when Cyprus will receive the six-month presidency of the European Union.
What does it mean for tourism and investors?
Anything Disney related is bound to create a lot of hype and a project of this scale on an island like Cyprus cannot fail to have a large impact on both the tourism and investment sectors.
The island's economy relies heavily on tourism and the Cypriot Government thus takes the job of boosting visitor numbers very seriously. Millions of pounds have already been ploughed into improving infrastructure and transport to make access easier and make the island more appealing to overseas visitors.
Larnaca International Airport has been upgraded and future developments of the marina and port are also in the pipeline.
The Government has also recently announced plans to increase the number of golf courses on the island from three to fourteen in an effort to boost numbers.
It is estimated that the new Disney resort will create 3,000 new jobs and become an extremely valuable tourist attraction, drawing attention from holidaymakers and investors who had not previously considered Cyprus.
The resort also aims to attract more than half million tourists per year with high buying power from Russia and other countries of the former Eastern block.
If you own a property in the area or are considering investing in one, the capital growth for the future looks strong and the massively increased tourist numbers should have a positive effect on rental income.
Source: TheMoveChannel
Dominic Farrell
Last week, it was announced that Russian investors have applied for planning permission to build a brand new Disney resort in Cyprus, which would be the largest ever single investment made on the island -
TheMoveChannel investigates what this would mean for the tourism and property markets in the country...
Who would have thought that Mickey and Minnie would ever make an appearance in Cyprus?
Following the Russian based Boema Group's announcement that it wishes to develop the leased state land near the UN buffer zone around the Larnaca - Famagusta border, this could become a reality.
The conglomerate had originally chosen Serbia as the ideal location for some Disney magic but Cyprus was eventually decided upon after its political stability, EU membership and year round sunshine were highlighted.
The state owned land lies between Turkish and Cypriot lines and the Russian Government are hoping that building the resort there will help to merge the Turkish and Cypriot communities.
"This £754 million project will be the largest investment in our country to be made with foreign investment capital," said Cypriot Minister of Finance, Mr. Charilaos Stavrakis.
The park is seeking to gain the reputation of being the ‘EuroDisney of the Mediterranean' and the rides in the theme park will be inspired by Greek mythology and Cypriot history, such as a daily performance of the naval Battle of Salamis.
A reconstruction of the ancient Kourion Amphitheatre, the Penatadaktylos mountain range and the Baths of Aphrodite will also be wowing visitors. If the park does go ahead, its gates are due to open in 2012, when Cyprus will receive the six-month presidency of the European Union.
What does it mean for tourism and investors?
Anything Disney related is bound to create a lot of hype and a project of this scale on an island like Cyprus cannot fail to have a large impact on both the tourism and investment sectors.
The island's economy relies heavily on tourism and the Cypriot Government thus takes the job of boosting visitor numbers very seriously. Millions of pounds have already been ploughed into improving infrastructure and transport to make access easier and make the island more appealing to overseas visitors.
Larnaca International Airport has been upgraded and future developments of the marina and port are also in the pipeline.
The Government has also recently announced plans to increase the number of golf courses on the island from three to fourteen in an effort to boost numbers.
It is estimated that the new Disney resort will create 3,000 new jobs and become an extremely valuable tourist attraction, drawing attention from holidaymakers and investors who had not previously considered Cyprus.
The resort also aims to attract more than half million tourists per year with high buying power from Russia and other countries of the former Eastern block.
If you own a property in the area or are considering investing in one, the capital growth for the future looks strong and the massively increased tourist numbers should have a positive effect on rental income.
Source: TheMoveChannel
Dominic Farrell
January 27, 2009
The Grove Spa Resort, Cyprus - Update by Dominic Farrell
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We are progressing well with The Grove Spa Resort, Cyprus construction.
Phase 1, which was the excavation of the land and preparation of the basement and foundation, is completed. The addition to the scheme of a further plot of land (that we purchased before Christmas in order to considerably enhance the development) has been approved by the planning authorities and is now being excavated for the basement and foundations.
The extra space the land has provided will allows us to make significant improvements and a lot of buyers are really delighted with the extra facilities we are adding.
Details of the additional plot can be found in the previous blog entry.
Phase 2 begins very shortly and I will post progress on this in due course.
In the meantime the interior architect has been finalising the interior look of the Spa and reception facilities. Watch this space for more news on this soon.
Best wishes
Dominic Farrell
January 23, 2009
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
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
January 6, 2009
The Grove Spa Resort, Cyprus
Welcome to the Grove Spa Resort, Cyprus blog. The purpose of this blog is to update investors and homebuyers on the construction of this much acclaimed 5 star residential resort.
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