20.09.2022
Fidera Limited and its operating partner Elements Capital Management unveiled the exterior of Londa Residences, a luxury residential development in Limassol, on Monday.
The development includes the conversion of the Londa Hotel into 29 residences and is expected to be completed by the end of 2023.
The apartments, which were designed by Parisian architect and interior designer Thierry Lemaire, feature private hot tubs or pools and tropical landscaping, private terraces and gardens, and private beach access.
“Our goal is to give buyers the rare chance to own a limited edition home right on the Mediterranean Sea, in a secluded oasis in the heart of the bustling center of Limassol,” said Londa Residences Marketing Director Matea Leko.
“For almost 40 years, Londa has been providing luxury beach holidays and hosting politicians, presidents, celebrities and some of the most powerful families in Cyprus. By transforming the hotel into a limited number of luxury residences, we are maximizing the potential of this great location,” added Leko.
The company said 40 percent of the project’s residential units have already been sold, with buyers coming from a number of countries including Cyprus, Israel, the Middle East and the US.
The opposition party Akel met with the Proodeftiki student movement on Monday to discuss a range of issues, including rising rents and the high cost of living.
“Students have been dealing with this issue for a long time, but in recent years it has become much more acute as rents have increased significantly,” Akel said in a statement.
“In addition, rising fuel prices are now preventing those who in recent years preferred to travel back and forth from their place of residence to their city of study due to high rents,” it added.
The party went on to say that the two largest universities in Cyprus lack student accommodation, forcing students to rent accommodation in the private sector, adding that students at private universities face the same problem.
Finally, Akel said that “due to very high rent prices, students are forced to either work or even stop their studies in order to cope.”
The Cyprus Stock Exchange (CSE) ended Monday, September 19, with losses.
The overall Cypriot stock market index stood at 74.38 points at 13:24 during the day, reflecting a 0.15% drop from the previous trading day.
The FTSE/CySE 20 Index stood at 44.62, down 0.13%.
The total transaction value was 16,915 euros.
As for the sub-indices, the main, alternative and hotel indexes decreased by 0.17%, 0.07% and 0.69% respectively, while the index of investment companies rose by 0.48%.
Bank of Cyprus (-0.37%), Salamis Tours (no change), Demetra (+0.51%) and Logicom (-0.58%) attracted the highest investment interest.
