14.06.2022
The situation in Ukraine and the consequences of the war are also affecting Cypriot real estate and causing concern among Cypriot landowners, according to IMPERIO, a company nominated in the Land Development/Construction category at the 14th IN Business Awards.
Land management/construction sector
The Cyprus real estate market has managed, despite adversity, to withstand the blows of the pandemic. However, real estate is currently facing a new serious problem. Due to the economic impact of the war in Ukraine and the resulting inflationary pressures and rising prices for building materials internationally, rising property prices have already started to register across Europe. These developments, which also affect Cypriot real estate, are legitimately of concern to Cypriot land management entrepreneurs.
Pandemic and war
The pandemic has served as an accelerator in the real estate sector in Cyprus, while at the same time it has greatly contributed to the adoption of important overseas trends here, which would otherwise take several years to enter the Cypriot real estate market, since real estate is one of the least innovative business sectors.
The impact of the war in Ukraine does not bother the market in terms of finding buyers. In addition, Cypriot real estate has managed to reduce its dependence on the Russian market over the past two years due to the pandemic. Fears in the Cypriot real estate sector are caused by inflationary pressure and rising interest rates and prices for oil and raw materials.
Competition
A determining factor for the future sustainability and profitability of companies operating in this sector is the integration of sustainability elements into their future projects, as the construction of “green” buildings has become increasingly important over the past two years.
Imperio has long been committed to environmental policy in the implementation of its projects, recognizing its importance both for the sustainability of the buildings it creates, and for the wider effort to save our planet.
Goals
After moving into Imperio House, a non-volatile office building designed to produce more energy than it consumes, Imperio is now focused on completing the innovative Sunset Gardens residential development.
As the first gated community in Cyprus and focused on sustainable development, Sunset Gardens is a blueprint for green development. The project, which is being developed in a privileged location in the west of Limassol, offers many amenities and activities such as swimming pools, tennis and basketball courts, a restaurant, a supermarket, a business center, etc. The first phase of Sunset Gardens will be commissioned in the summer of 2022.
Company
Imperio was founded in 2003 and is considered one of the most trusted land development companies in Cyprus. Focused on sustainability and innovation, the company specializes in the design, construction and promotion of modern, high-performance residential and commercial projects that meet the ever-changing needs of the market.
Imperio projects are distinguished by unique design, quality and modern comfort. Over the past 20 years, Imperio has managed to build an enviable portfolio of award-winning projects of a high standard, gaining a reputation and prestige in the Cypriot and international market.
