12.05.2022
The Residences by Londa, a project designed to set new standards for luxury residential development in Cyprus and completely redefine the map of luxury owner-occupied housing on our island, is entering the countdown to completion.
The transformation of the renowned Londa Hotel in Limassol into an innovative, ground-breaking residential complex following its acquisition by new owners and managers – investment firms York Capital Management (YCM) and Elements Capital Management (ECM) – is proceeding smoothly despite any delays caused by the pandemic as well as the recent war in Ukraine.
At the same time, buyer interest around the project is especially high, as Savvas Liasis and Andreas Georgalis, directors of Elements Capital Management, told InBusinessNews that a third of the 29 luxury residential units included in the development have already been sold or reserved. In fact, according to Mr. Lassy and Georgalli, it is expected that by the first months of next autumn, all the objects of The Residences by Londa will find their owners.
“The project is showing great momentum,” says Mr. Liasis, who, when asked whether the geopolitical events of recent months, especially the war in Ukraine and sanctions against Russia, negatively affected demand, answers negatively.
As Mr. Georgalis points out in this connection, sales or pre-bookings made to date are mainly for buyers from Cyprus, Israel, the Middle East and Americans, including a well-known person from America, whose name, however, for obvious reasons, he does not wanted to reveal to us. At least for now.
An important benefit for buyers of the residences of the project, as emphasized by Savvas Liasis, is the fact that it is exempt from VAT, which creates huge savings for them and makes “The Residences by Londa” a very attractive investment opportunity.
As for the stage at which the development of the project is today, according to Mr. Georgallis, its construction began this month with a time horizon for completion in the next 18-20 months.
“The implementation is proceeding at a good speed and without any problems. We had some logistical issues, where there were mostly delays, but we overcame them. Twenty months from today, the project will be completed, and we have information that by September-October of next year, all residences will be sold. This is a project that has momentum,” notes Mr. Liasis.
We asked Mr. Liassi and Georgallis about choosing ECM in collaboration with YCM to buy and invest in Londa. In one of the most famous hotels in Cyprus, that is, which has entered the memory of the public as a place of elegance, luxury and impeccable style.
“When we saw that Londa could be sold, we spent six months buying it and we had strong competition. But we knew that no one else had a location in Limassol and maybe even in Cyprus,” they pointed out pointedly. After all, we add, three-way privacy, security and proximity to the sea from the very beginning were key features that the initiators put it as a request to offer to future buyers, knowing, as Savvas Liasis and Andreas Georgallis point out, that this is for details that only Londa’s location can provide.
Project identity
The Residences by Londa is a special and exclusive project with a limited number of residential units, which, according to Mr. Liasis, is also the company’s overall strategic choice in terms of the projects it invests in and develops.
In particular, it has 29 unique residences, all with sea views, each clad in high quality materials and with a color palette that matches the particularly characteristic colors of Cyprus (copper and olive).
The designers of the project are Thierry Lemaire and Hubert Malherbe, the former being considered one of the best interior designers and decorators of our time, having projects in his portfolio such as the design of Les Salons du Champs Elysees and the office of Emmanuel Macron. And the second is a prominent and distinguished designer, who recently presented the design of a large La Samaritaine department store in Paris.
The residential units are divided into three luxury collections offering one to four bedroom residences. Each collection has its own distinct character, meaning you can choose from a residence with a garden and private beach access, or a residence with a rooftop marble bar and an infinity pool, or a residence with family rooms and a luxury kitchen connected in shared outdoor areas overlooking the sea. .
Three collections of luxury housing:
The Garden Collection consists of three residences.
• SUNRISE GARDEN | APARTMENT WITH GARDEN WITH 3 BEDROOMS. With covered sun deck and private pool.
• SOUTHERN GARDEN | APARTMENT WITH GARDEN WITH 3 BEDROOMS. With covered south facing terrace and private pool.
• SUNSET GARDEN | APARTMENT WITH GARDEN WITH 4 BEDROOMS. With covered sun terrace and private pool.
The residence collection consists of 24 residences.
• TYPICAL TERRACE WITH SUNRISE | APARTMENT WITH 2 BEDROOMS.
• TYPICAL SOUTH TERRACE | APARTMENT WITH 2 BEDROOMS.
• TYPICAL SUNSET TERRACE | APARTMENT WITH 2 BEDROOMS.
• TYPICAL WEST TERRACE | APARTMENT WITH 1 BEDROOM.
The Penthouse Collection consists of two residences.
• SUNRISE TERRACE | PENTHOUSE WITH 4 BEDROOMS. With covered sun terrace and roof garden with infinity pool.
• SUNSET TERRACE | PENTHOUSE WITH 4 BEDROOMS:
– With roof garden with infinity pool.
– With a particularly attractive south-facing terrace and a west-facing terrace overlooking the city.
Residences will have important and distinctive amenities and services such as touch-free building entry, 24-hour valet parking, individual storage areas for each residence, covered parking spaces, on-site car wash and specially designed wine cellars.
In addition, tenants will be able to enjoy the exclusive spa, designed by Thierry Lemaire, which will have an indoor pool and a dedicated 35m sunbathing area, as well as a gym for the exclusive use of tenants. The building will also have meeting rooms and office space.
The peculiarity of the project is that the building has a specially designed “invisible” entrance with contactless access, built according to a separate design, without direct contact with the street, which creates a unique feeling that when you enter the space, you enter an oasis of calm inside your own home where you become one with your space and the sea.
