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Project Management & Development Projects

The ever increasing size of development projects and their increasingly complex nature due to the provision of many alternative services and the subsequent need for various consultants, has created a need for Project Management as a service in its own right. This development is relatively new in Cyprus but the need for Project Management is felt by more and more promoters of project especially those involving extensive capital expenditure. The firm provides a comprehensive service in this field from the inception of a project to its implementation and it includes the briefing of the various consultants and the advice on design, the invitation and the analysis/ selection of tenders, the contractual procedure and overall management, the sales and promotion of the project until the eventual completion and delivery.

Depending on the client's requirements, the firm assumes the full control of a project and is directly responsible to the owner/ developer. The owner is kept fully informed of all the firm's actions relating to his project through weekly reports, meetings and briefings. In this way the client keeps control of the project with a minimum loss of time and effort while an expert who provides on-the-spot decisions relating to time, cost and quality of construction always represents him. Targets are set on the onset of the project and projected cashflows adhered to as far as possible.

The use of a computer is a must in such projects since variables can thus be analyzed quickly and the appropriate action taken promptly.

This inception/financing/execution range of the firm's services in property development projects makes up for the uniqueness of the firm's service. Further, this service is backed up by the firm's very sound experience in this field, since it has already managed the development of twelve hotel projects, large and prestigious building site estates, bank H.Q., shopping centers, hypermarkets, residential, office and industrial complexes etc.

Depending on circumstances the firm uses its own consultants such as Quantity Surveyors, Taxation Experts, as well as Managers in specialized fields (such as hotel managers etc) whose participation in the design and execution/detailing is a must.

The firm is employed by individuals/companies, whose aim is to seek financing and our independent management is needed in order to secure such funding.

Our wide experience [from Project Management and Sales] can be seen at a glance:

  1. Touristic Development: 16 hotels - 8 five-star including a holiday village and hotel apartments in Cyprus.

  2. Commercial: 4 shopping centres [two in each Nicosia and Limassol] average size 120 shops/centre.

  3. Industrial: Municipality of Nicosia industrial estate - 109 units, Constandia industrial estate building plots. Studies for Municipalities of Dherynia and Mesa Yitonia.

  4. Hypermarkets: Two very large hypermarkets, one in Limassol and one in Nicosia (Orphanides). New one at Strovolos is pending (Shiacolas).

  5. Residential: Over 2500 apartments in blocks all over Cyprus.

  6. Holiday Homes: Over 1100 units such as Ayios Elias Holiday Cottages at Protaras (180 units). Amathusia Village in Limassol [300 units], Possidon Beach Gardens in Larnaca[95 units], etc.

  7. Offices: Over 13.000 sq.mts. in total;
    - Gala Tower (Limassol)
    - Frangoudi & Stephanou (Limassol)
    - Louis Tourist H.Q.
    - Arab Bank Plc H.Q.
    - Barclays Bank (Larnaca main)
    - Hellenic Bank (Limassol main)
    - C.L.R. Stock Brokers (Nicosia)
    - Krendos Offices (Nicosia)
    - Toumazis Business Centre (Nicosia)
    - Severis Building, etc. etc.


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