Real estate and construction in Cyprus

A.G Erotocritou LLC

A.G Erotocritou LLC's ‘professional and responsive’ team has significant expertise in highly complex real estate mandates, including those relating to the construction of skyscrapers. It also excels in handling large-scale projects such as the construction of five star hotels and industrial parks. Elsewhere, the group advises very wealthy individuals from around the world on major commercial property transactions. The roster of clients includes foreign conglomerates, international law firms, high-net-worth individuals and banking institutions. The firm is also recommended for its work on high-value property disputes. The head of the department is Alexis Erotocritou, who receives a lot of praise from clients for his ‘efficiency’. Georgia Demou is also recommended.

Practice head(s):

Alexis Erotocritou

Other key lawyers:

Georgia Demou

Testimonials

‘A firm with high business awareness and an extensive, high-profile client portfolio. Great knowledge of  Cyprus and international law. In depth knowledge of the real estate market in Cyprus. Efficient, professional and personal service. Cooperation with partner Alexis Erotocritou is always direct and efficient. Alexis focuses on the heart of the matter and produces accurate and prompt results. His smart and out of the box business approach is what makes him stand out from competitors.’

‘AG Erotocritou is a unique legal consulting firm. Very easy to work with, fully grasps the issues that are needed to deal with these issues. Collaboration is very fruitful and billing always clear. Alexis Erotocritou, is a very extroverted person, with deep knowledge of the legal system. Very collaborative and positive to work with.’

‘Great all round service done by a team of professionals. Alexis and Georgia were very knowledgeable about the subject and extremely helpful.’

‘Very capable team fulfilling all clients’ needs. Very punctual with deadlines and ready made solutions in all aspects. The team is very passionate, loyal, has high commercial awareness and deep knowledge of law and practical. Very efficient and responsive.’

‘Big passion, perfectionists, continuous learning of new laws make them the best in the industry. Mr Alexis Erotocritou outperformed my expectations which were quite high. I would highly recommend the services to anyone.’

‘We are extremely satisfied with the team and the firm. Very reliable, professional and ethical. They are flexible in terms of their cooperation and is a truly motivated dynamic team wishing and aiming for the best for the clients. We would highly recommend them to any client.

‘The quality of the team is exceptional. I have worked a number of times with the firm and I have been really impressed by their professionalism and knowledge of the subject. Very professional individuals.’

‘The firm is exceptionally good for Cyprus. They have all those characteristics you find in an international law firm. Prompt, deep knowledge and professionalism. They are innovative and they are there when you need them. They can be reached anytime any day, and any member of the team.’

Key clients

YIOUPIS GROUP

RPT Group

Pandomus Group

Anastassiades Group

Capital.com

Globe Visa

Alter Domus

Iktinos

Grecian Group (Hotels)

Eureka

AAS

Work highlights

  • Advising an UHNWI client on the set up and establishment of a 5 star hotel in Cyprus.
  • Acting for a HNWI from Asia on the process of setting up the first industrial park in Cyprus.
  • Instructed by a leading immigration company and key investors from Asia in relation to their proposed investment in the largest hospital/medical centre to be constructed in Cyprus. The hospital will be a satellite medical centre of a well-known international hospital which will encompass lecture theatres, apartments, spa, cafes and restaurants.

Chrysses Demetriades & Co Law Office

The real estate and construction department at Chrysses Demetriades & Co Law Office is part of the wider corporate, commercial and M&A department. Under the joint leadership of Constantinos Mavrellis and Christos Mavrellis, the practice continues to be involved in a significant number of large infrastructure, construction and real estate development projects in Cyprus. Clients include some of the largest real estate development companies, real estate investment funds and leading contractors in Cyprus, as well as several prominent real estate investors. The firm has also been active in advising on the licensing of mixed tourist development projects on the island. Other strengths include advising on the creation of investment holding structures and also joint ventures that are established to invest in large real estate projects in the international property market. Maria Socratous is also recommended.

Other key lawyers:

Maria Socratous

Testimonials

‘This practice is unique as each person we have encountered has shown professionalism in their approach to handling and executing all matters we have put forward to them. If one person cannot deal with our request then they will find the best person suitable to complete our requests.’

‘We have found the people we have dealt with to be honest, independent and not only professional, but also show innovation towards their development of finding solutions, answers and dealing with the matters we have put in front of them. We believe them to be a forward-thinking practice. We would like to mention the following people although we have dealt with many others: Mr Constantinos Mavrelis and Mrs Maria Socratous.’

‘Diversity, personal attention, knowledge, results. Constantinos Mavrellis – we are very content with his knowledge, timely responses, personal attention and results.’

‘Extremely responsive and knowledgeable team with an exceptional skillset and in depth knowledge of their field. Professionalism at all levels people billing analytical skills.’

‘Christos & Constantinos Mavrellis have top professional skills and pay attention to each and every case and to the detail.’

Key clients

Imperio Group

Pafilia

Cybarco Limited

Prodea Investments

NKS Group

Ghelamco Group

Lanitis Group

Aristo Developers

StaDemos Group

Mymall Limassol

Muskita Hotels Limited

Leptos Group

Invel

Work highlights

  • Advised Pafilia on issues affecting various projects under development due to Covid-19 and government imposed lock downs.
  • Advising Mymall Limassol on certain issues deriving from the COVID-19 outbreak. Such issues included suspension of operations, putting employees on specialty schemes provided by the government, dealing with tenants and the financier of the client.
  • Advising Amathina Holdings Limited in connection with the sales of units in the mixed tourist development project know as Amathus Residence.

Elias Neocleous & Co LLC

Christos Vezouvios heads up the real estate department at Elias Neocleous & Co LLC, which acts for some of the largest real estate funds and developers in Cyprus. In addition, it acts for many key players operating in the real estate sector that are active in other countries (particularly in Greece, Russia and Eastern Europe). Its primary focus is on high-end tourist sector developments, commercial and infrastructure projects, as well as on large-scale residential developments. The department also attracts a steady flow of instructions from high-net-worth individuals and their family offices. Christiana Georgiou plays a pivotal role in real estate transactions, property disputes and immigration matters.

Practice head(s):

Christos Vezouvios

Other key lawyers:

Christiana Georgiou

Testimonials

‘The lawyers who did excellent work for me were Christiana Georgiou and her team leader Christos Vouzouvious. They were one of the best teams with whom I have worked in any jurisdiction. Apart from being efficient and effective, which is what one expects, they were charming and went the extra mile to achieve my goal.’

‘Christiana Georgiou was exceptionally assiduous in completing a difficult task which a previous firm I had instructed said was impossible!’

‘Elias Neocleous is, in my view the leading firm in Cyprus. Christos Vezouvios is a great lawyer to deal with.’

‘Their service and advice are first class in every area. Their main strengths are their business-like advice, their attention to client service and specialisation. Their people are accessible and helpful. They meet deadlines and they keep us informed of progress. They give us practical, constructive advice that solves our problems. They have specialists in all areas so their advice is always excellent and takes into consideration our business’ particularities. All in all, they are second to none.’

‘We appreciate very much the traditional direct contact that we have with certain members of the firm, which we consider important and indispensable. The firm’s team is very accommodating of any request to use electronic means of communication and all members we communicate with are IT literate. We also note that the firm has launched Neolaw.ai which is an innovative artificial intelligence legal search engine which acts as legal assistant and which we intend to use in the near future.’

Key clients

Bank of Cyprus

Limassol Marina

Prodea Real Estate Investment Company

CYREIT Variable Capital Investment Company PLC

Atterbury Group

Landmark Hotel, Nicosia (ex-Hilton Hotel)

Invel Real Estate Partners

British High Commission/ UK Foreign Office

KIP Consulting Group

Mediterranean Hospitality Ventures Limited

Alokozay Group

Celox

Remu Estate Ltd

Eurobank

Galaxia Properties Limited

Solek Holding SE

Work highlights

  • Advised a prominent international development group on the consolidation of 11 prime plots of land on the sea front for the purpose of developing a luxury hotel, and a luxury residential development.
  • Advised a property holding group on the drafting and negotiation of the complete suite of construction contracts for the redevelopment and refurbishment of a hotel, and the construction of two high rise towers.
  • Advised a property developer on the drafting, procurement and negotiation of all contracts for the design and construction of a luxury high rise office tower.

Ioannides Demetriou LLC

Ioannides Demetriou LLC is well-regarded for its work in the property sector, with notable strengths in PPP, development and infrastructure projects, as well as project finance transactions. The department, which is jointly led by Pambos Ioannides and Andrew Demetriou, acts for international and local banks, public bodies and semi-governmental organisations, public and private foundations, among others. Christos Frakalas is active in contentious matters. Theo Demetriou made partner.

Testimonials

‘This practice is unique due to its expertise and specialisation in the sectors it deals with, which is one of its strengths as it allows clients to be confident about the service they receive. Clients also have direct communication with the firm regarding their cases. What makes the firm’s individuals stand out is their in-depth knowledge and continuous studying of the matters they deal with, as well as their ability to provide immediate service to clients.’

‘I have worked with Ioannides Demetriou LLC in construction claims. They offer unparalleled experience in that field and they are by far the best on the island. They are organised, with an efficient method of work (quick responses, initiative on advice, arrangement of meetings etc), which sets them apart. Professional and capable.’

‘The partner in charge of the construction law department is vastly experienced, quick in his replies and always on the front foot. Hugely helpful for any contractor or client. Always available on the phone and/or text messages. His active presence is very helpful in a field of work where quick responses/reactions are of the essence.’

‘Fast and effective.’

‘This practice provides expert advice in diversified fields, and in particular, contract law and construction claims. Andrew Demetriou – his in-depth knowledge of the subject matter he is dealing with is exceptional. He is diligent, meticulous and straightforward.’

Key clients

IT Quarter Ltd

Cyprus Housing Finance Association

A. Tsokkos Hotel Public Ltd

Woolworth (Cyprus) Properties Public Ltd

Elite Constructions Ltd

Nicodemou & Gavrias Construction Company Ltd

Electricity Authority of Cyprus

NKS Shacolas Group

Lois Builders Ltd

Medcon Constructions Ltd

Miltiades Neophytou Civil Engineering Contractors & Developers Ltd

Paphos Sewerage Board

Medcon & DB Technologies JV

Work highlights

  • Provided legal advice to IT Quarter Ltd during the negotiation process and contract conclusion for the purchase of a number of immovable properties for a total price of over €32m.
  • Provided legal advice to the Electricity Authority of Cyprus regarding the compulsory land acquisition for the construction of a major electricity sub-station; representing the Authority in over 80 ongoing court cases for compensation claimed in respect of power transmission pylons on land.
  • Advising/drafting development and sale contracts for NK Shacolas Holdings Ltd; advising and revising restructuring/debt for assets transactions with banks and development and sale contracts, banking/financing, restructuring/debt for assets transactions.

Michael Kyprianou & Co. LLC

Michael Kyprianou & Co. LLC fields a ‘friendly and personable team that goes out of its way to solve problems’. It regularly advises owner-occupiers and investors on complex and high-value land acquisitions and construction matters. The group has particular expertise in advising clients on issues relating to foreign currency-backed loans. The ‘extremely efficient’ head of the department is Savvas Savvides. Also of note is the ‘professional’ Esme Palas, who is highlighted for her ‘level of commitment to client care’. Eleni Drakou made partner.

Practice head(s):

Savvas Savvides

Other key lawyers:

Esme Palas; Eleni Drakou

Testimonials

‘Extremely professional and very knowledgeable in the field of property purchases. Very thorough and helpful with issues encountered. Proposed solutions and addressed the issues to get a resolution. Resolved issues with plans and title deeds. Everyone was and is very helpful and friendly, Always there to assist even after transactions were completed. The outstanding knowledge and professionalism is rare in today’s world.’

‘Having had numerous dealings with Michael Kyprianou & Co – I would say the key thing that makes it unique, is the outstanding people it employs. The team members work to their strengths and they work very efficiently. They get things done in a timely fashion and they are on top of their game. In real estate and construction, this is absolutely vital. In my opinion, this is a major factor in the company’s success.’

‘I believe the real estate and construction team all play to their strengths. But there is one individual who stands out. And that is Esme Palas. I know from experience that she is brilliant at her job and works very, very hard on behalf of her clients. Esme is very business-like and thorough, but she is also very approachable and a genuinely charming lady. I know I can trust Esme 100%.’

‘Esme Palas makes this practice unique. She is very professional and very smart (she has the answer to everything at hand). I have never had to wait for her to get back to me. She is always available, and when not available, she always calls back in a timely manner. Her professionalism is next to none. Esme has even offered to meet up with me with my investors to help out with residency without me having to ask. I cannot praise her enough, she is amazing. I recommend her to all my friends and clients as I know she is the best in Cyprus. She is the only company I trust.’

‘I would recommend this firm due to their experience, diversity, their professional team and the first class service they provide from the moment a client meets one of the team. We have dealt exclusively with Savvas Savvides, who is unfailingly courteous, welcoming and efficient. In the various dealings we have had with this firm over the years we have found them to be super efficient, friendly, and most importantly, always available.’

‘I feel very comfortable, respected and confident that I have the best lawyers on the island. They listen, speak excellent English and communicate. Key factors for me.’

‘The Michael Kyprianou legal team is very professional, service-oriented and agile. We were very impressed with the firm’s ability to manage our property purchase, keeping our best interest in mind in dealing with the local authorities in Cyprus (title deeds etc.). Their response time is phenomenal and the attitude is always “yes we can”. As the firm is local and we are foreigners it is crucial to be able to count on such a firm to collaborate on our behalf and they have succeeded in doing so.’

‘Our main contact is Savvas Savvides – talented quick and good thinker, came up with ideas about how to handle the different obstacles and operates with a creative and open mind. The Michael Kyprianou team will go out of their way to provide the best legal advice possible.’

Work highlights

  • Provided legal assistance to a client in attaining the property/building requirements and licenses for a medical centre.
  • Successfully completed the sale and purchase transactions for numerous clients for properties ranging from €200.000 and exceeding €1m, whilst overcoming delays arising due to the Covid-19 pandemic, amongst other challenges.

Christodoulos G. Vassiliades & Co. LLC

Christodoulos G. Vassiliades & Co. LLC is regularly instructed by developers, owners, investors and corporates, as well as lenders and underwriters, both locally and internationally. Names to note are the heads of department Marianna Pavlides, Savvas Georgiou and Evangelia Tiki. Its workload includes corporate acquisitions of property holding companies, real estate finance transactions and direct/indirect foreign investment issues.

Testimonials

‘The team is extremely close knit, which is rare for the larger firms nowadays, and there is always a responsive point of contact available. Apart from the intimate knowledge of the letter of the law, for me, interpersonal relations are very important and the firm delivers just that and beyond!’

‘Every case they work on is bespoke and solutions immaculately tailored to the individual’s needs. Quality over quantity and incredible human touch every time; they are always timely and incredibly responsive from dusk till dawn!

‘They are incredibly responsive and efficient. Their client care skills are fantastic and our clients are very happy when we refer them to this firm. Marianna Pavlides and of course Mr Vassiliades himself always go the extra mile with our clients. They are very clear in their communication and are always readily available.’

‘Christodoulos G. Vassiliades & Co. LLC are exceptional specialists with understanding of what the client needs. The best Cyprus law advisers and administrators. Mr. Vassiliades and his team have never refused us their professional help in various situations.’

‘Our experience with Christodoulos G. Vassiliades & Co. LLC has been excellent. What makes them unique in our experience of Cyprus counsel is scope (of practice areas) and responsiveness. The lawyer who stands out for responsiveness and useful advice Savvas Georgiou.’

Key clients

Baker & McKenzie

Hogan Lovells

Work highlights

  • Advising and drafting all relevant documentation in relation to the acquisition of immovable property in Limassol, Cyprus. The value of the property was €2m.
  • Advising clients on the purchase of immovable property in Cyprus with the purpose of acquiring and being eligible for the Cyprus Investment Program by which the clients obtain the Cyprus Citizenship. Thus far the team has successfully dealt with a large number of applications via the option of purchasing real estate. This would result in approximately €2bn in transactional value.
  • Advising various clients on the initiation of the process for the  acquiring of title deeds for many clients via the Trapped Buyers’ scheme and Assignment Agreement.

George Z. Georgiou & Associates LLC

The team at George Z. Georgiou & Associates LLC, which is led by George Ioannou, generates work from funders, companies, landowners, landlords and tenants. Its expertise includes funding and construction issues, as well as the purchase, sale and maintenance of properties. It is skilled at advising on debt to asset swaps, and also planning and environmental issues. The team also frequently handles property and construction litigation.

Practice head(s):

George Ioannou

Testimonials

‘This practice is truly unique as there are only a few lawyers here on the island that know construction law, and the head of the property and construction practice at this firm is a construction law database himself. A trustworthy firm that will treat its clients, no matter the size of the business, with the same amount of respect, time and care.’

‘George S. Ioannou is a very respectable lawyer, his knowledge and professionalism do stand out, as well as the way he always finds solutions and cares for his clients. He is an exceptional lawyer!’

Papadopoulos, Lycourgos & Co LLC

Papadopoulos, Lycourgos & Co LLC handles all aspects of development projects for some of the country’s largest developers, investment funds, construction companies, land investors and owners. It has extensive expertise in immovable property transactions and property disputes, where it acts for individual and corporate clients in Cyprus and abroad. Department head Nicolas Papaconstantinou focuses on commercial real estate transactions (including the acquisition, sale, development and financing of real estate and real estate-based assets) and related litigation.

Practice head(s):

Nicolas Papaconstantinou

Work highlights

  • Acted for a client on the establishment of a condo hotel in a prime location in Limassol. The purpose of the investment was the renovation/construction of a Condo Hotel comprised of residential, hospitality (hotel), retail and F&B components. The firm represented the client throughout the whole transaction (including the drafting of all relevant contracts/agreements related to the leasing of the residential units of the hotel, applying for the relevant permits etc).
  • Advising a client on a potential investment in renewable energy sources, including production, supply and sale of electricity.
  • Advised a client on the establishment of a hypermarket in a large commercial centre in Larnaca including but not limited to the negotiations with the involved parties and drafting of the relevant agreements.

Patrikios Pavlou & Associates LLC

Patrikios Pavlou & Associates LLC advises clients on matters ranging in scope from property investment transactions and lease contracts to the establishment of Cyprus international trust structures owning immovable property in Cyprus and abroad. It also frequently handles property litigation, debt to asset swaps and other issues relating to probate and estate administration. Under the joint leadership of Stavros Pavlou and Stella Strati  the group primarily advises local and foreign companies that are involved in property investments and construction projects, and on the promotion of real estate. It also acts for foreign citizens seeking to invest in or relocate to the island.

Practice head(s):

Stavros Pavlou; Stella Strati

Other key lawyers:

Stylianos Trillides

Testimonials

‘The team of Patrikios Pavlou & Associates consists of gifted and creative consultants, who consistently deliver high-quality services. Their energy and enthusiasm for service is endless and they always ensure a solution-focused and expertly designed outcome. The team is reliable, flexible and a pleasure to work with and I highly recommend them.’

’Stylianos Trillides is one of the most talented lawyers we have encountered. He is extremely attentive to details and highly knowledgeable.’

‘They do work as a team and every member in each project (from lawyer to administrator) is up to date. I have been working closely with Stylianos Trillides, a senior associate in the team – an excellent individual who has general knowledge of the law and is a key member to the team. His skills of completing such matters is outstanding and his relationship with associates and clients is worth mentioning.’

‘Very efficient and good working together for many years. The best knowledge and expertise for international structuring and M&A from Cyprus perspective. Very comfortable and punctual. Highly recommended. Stavros Pavlou, Stella Strati and Stylianos Trillides. The best recommendations.’

‘All the staff at the company are friendly and cooperative and handle everything with professionalism and privacy. The person that we work with is very responsible and conscientious and he is really always there for us whatever we ask for. He feels the concerns and wants of his customers and works closely for the best solutions and proposals.’

Key clients

Alpha Bank (Cyprus) Ltd

Work highlights

  • Advising international investors on their second project in Cyprus relating to the construction and development of properties and advising them in relation to applicable regulations and legislation relating to the operation of short-term lettings.
  • Advising a local technology and financial services firm, as the purchaser of several properties within the Limassol area on an over €1.5m land development project.
  • Advising a renowned global charitable foundation operating from the UK, Monaco and Cyprus, on an important charitable donation of several properties located in Cyprus to the Cyprus branch of the foundation.

Andreas Coucounis & Co LLC

Andreas Coucounis & Co LLC‘s practice, which is led by Tasos Coucounis, acts for public and private entities on a broad range of real estate and construction matters. It often advises domestic and international clients on the sale and acquisition of residential and commercial properties. In addition, the team is recommended for its experience of property litigation matters.

Practice head(s):

Tasos Coucounis

Other key lawyers:

Dimitria Coucouni

Testimonials

Dealing with them from the UK, all staff were fluent in English and very helpful and considerate regarding communications and problem solving with issues arising from differences in UK and Cypriot law. Very helpful and compassionate when dealing with personal issues and very professional and communicative as a team.’

‘Always keeping client updated with any changes or progress. Friendly but professional.

‘AC & Co has a serious and hard-working team of professionals that is always available and eager to support your needs. Technically very competent and gives you a sense of comfort with the analysis and opinions. Tasos is an exceptional professional with a high standard of knowledge of his area of practice.

‘I have always been given excellent customer service by this law firm. Dimitria Coucouni has always been one step ahead in my dealings with her and the team, ensuring any potential problems are sorted out, prior to them becoming a big problem for the customer.’

Professional and efficient.’

‘We particularly like working with Dimitria – easy communication and answers to questions when asked.’

Key clients

Svea Renewable Solar AB

WS Beteiligungs GmbH

Embassy of The State of Qatar

Hellenic Bank Public Company Limited

APS Debt Servicing Cyprus Limited

Bank of Cyprus Public Company Limited

KPMG Limited

Cyprus Government

Hellenic Technical Enterprises Limited

Work highlights

  • Retained in 2021 by SVEA RENEWABLE SOLAR AB, a market leader in Sweden and in Europe regarding solar panels, for advice on land acquisition matters/agreements and regulatory/licensing matters on solar energy parks in Cyprus.
  • Advised WS BETEILIGUNGS GmbH on a complex land transaction of €4m in the area of Larnaca.
  • Advised the Embassy of the State of Qatar on its proposed acquisition of plots of land in Nicosia.

Christos Georgiades & Associates LLC

Christos Georgiades & Associates LLC's team is sought after for advice on a broad range of issues, such as real estate sales and acquisitions, property management, estate planning, and construction and development. It is also skilled at handling construction and real estate litigation. Agis Georgiades and Fofo Georgiadou co-head the department.

COSTAS TSIRIDES & CO LLC

COSTAS TSIRIDES & CO LLC continues to advise local and international businesses, banks and individuals on a wide variety of real estate matters. It is adept at providing legal opinions on complicated real estate structures and on the acquisition of Cypriot citizenship through investment schemes in Cyprus. Alexandros Tsirides and Photini Tsirides co-head the practice.

Other key lawyers:

Aristiana Stylianou

Testimonials

‘Extremely capable, professional and diligent. Alexander Tsirides, Photini Tsirides and Aristiana Stylianou are all exceptional individuals who provide responsible professional advice with personal attention.’ 

‘I confirm that the practice of Costas Tsirides & Co. LLC is unique, manned by very capable lawyers, and as far as the strength of the practice is concerned, they are well ahead of their competition.’

‘I find that the individual lawyers I have dealt with over many years are highly intelligent, co-operative and available whenever I need them. I would like to mention the people who always perform over and above the call of duty:-Alexandros, Photini and the lady who supervised the sale of my house, Aristiana Stylianou.’

E & G Economides LLC

The property team at E & G Economides LLC handles a wide range of matters relating to residential and commercial properties. It maintains a close cooperation with the Land Registry and other relevant government departments, as well as with local property developers. Clients include well-known developers in Cyprus and abroad, as well as high-net-worth-individuals who wish to purchase residential or commercial property for residency purposes or as an investment. George Economides leads the practice, which also handles real estate disputes.

Practice head(s):

George Economides

Testimonials

‘Well organised. George Economides is a very good professional in his field of practice.’

The experience of the firm’s individuals gives an advantage to the law firm for offering high quality work to the clients.’

‘They have good expertise –  a mix between the attorneys and paralegals which can supplement our requirements. Their immediate response time even makes them more efficient and reliable. They don’t care about the clock charge but the end result. They are target oriented and great individuals to work with.’

‘E&G Economides LLC is a one-stop-shop. Their team will provide in-house assistance to all client requests. All partners and associates, including George Economides, always get involved in all transactions in order to offer confidence to their clients.’

Key clients

Healys LLP

D. Zavos Group

Polsteam Group

Limassol Del Mar

Leptos Estates

Quality Group

CloudLayer 8 (CL8)

Landscope Developments Ltd

Domaland Properties Limited

Work highlights

  • Advised Bercalli Holdings Limited (acted as legal counsel to the seller) on the complete legal framework in relation to the sale of a property in the Limassol Marina.
  • Acting as legal counsel to the buyer, for the purchase of a luxury apartment located in Limassol, Cyprus.
  • Acted for NTDC Investment Limited, a newly established Cypriot company, on the acquisition of the 100% of the share capital of another Cypriot company, which was the registered owner of a five-floor building situated in Limassol, Cyprus for the amount of €4m.

Harris Kyriakides

Harris Kyriakides has a strong track record of advising domestic and international clients on a broad cross-section of real estate matters. It is particularly well-known for its strengths in development projects, which range from those involving office buildings and mixed-use facilities to large-scale urban regeneration projects, residential projects and major infrastructure projects. Harris Kyriakides leads the group, which also assists clients with construction and engineering contracts, planning and land use issues, and real estate asset management, among other matters.

Practice head(s):

Harris Kyriakides

Other key lawyers:

Andrea Newton

Testimonials

‘Very efficient, prompt and knowledgeable, with a great commercial approach. The experience and willingness of the team is outstanding. Great use of technology as well, which has not been my experience with other firms in Cyprus; creating virtual data rooms, using shared documents to work collaboratively are just a few examples.’

‘Andrea Newton is truly excellent at what she does. A very effective communicator, who will be honest, put you at ease and promptly guide you through what needs to be done. One of the brightest young lawyers I’ve worked with. The experience of Harris Kyriakides is unparalleled. He is a brilliant strategist and a firm negotiator. You’d really want both of them in your corner.’

Key clients

Petrolina Group

Zemco Construction Ltd

Work highlights

  • Advised Petrolina Group on a landmark acquisition from ExxonMobil of over 75.000 square metres of seaside land in southeast Larnaca; this was one of the most significant real estate deals in Cyprus in 2021. The land, previously used as fuel terminals and petroleum facilities, unlocks enormous possibilities for land development in the area for the Petrolina Group and creates solid foundations for future growth in the city of Larnaca.

STELIOS AMERICANOS & CO LLC

STELIOS AMERICANOS & CO LLC‘s team has considerable expertise in handling cross-border transactions and there is regularly a multidisciplinary approach to its work. The group advises on property acquisitions and construction agreements, and it is also adept at advising on the development of projects, town planning permits and building permits. Other drivers of work include advice on environmental laws, real estate litigation, insolvency and tax issues. Stelios Americanos heads up the team, which also includes senior associate Thanos Fiakas.

Practice head(s):

Stelios Americanos

Other key lawyers:

Thanos Fiakas

Testimonials

‘The team is experienced and has good connections. The individuals are willing to travel to complete the work by themselves instead of appointing other people.

Key clients

Mantis Group

Spica SA

IMMOFINANZE

Fattal/Leonardo Group

Talos

Sharelink Financial Services (SFS Group)

Papantoniou Supermarkets

COFCO Agro

ADAMA Group

eWave

Olympic Capital

ClassOne Ltd

K. Athienitis Contractors Developers Public Ltd

PAP Medical

H&M Group (Cyprus)

Outono Limited

Work highlights

  • Advised a consortium of local investors on the acquisition by Bank of Cyprus of Nicosia Mall in a €100m transaction.
  • Acted as legal adviser to Ewave on the acquisition of a company that was the owner of a 4-storey building that consisted of 20 one-bedroom apartments and one commercial shop operated as a tourist holiday hotel in Larnaca. Also acted as legal adviser to Ewave on the acquisition of seafront property in Larnaca, which is currently operating as hotel apartments.
  • Advised Alf Mizzi of Malta on its joint venture with Lanitis Group to develop Limassol Greens Golf Resort in a €90m transaction.

Stelios Stylianides & Co L.L.C.

Stelios Stylianides & Co L.L.C.'s diverse workload includes property sales and purchases, property management issues and tax matters. It is also skilled at handling construction disputes and a whole host of other issues, such as mortgages and other property charges. Christos Stylianides and Anastasia Schini jointly lead the practice.

Key clients

Kythromak (Asphalting) Limited

The Church Committee of Pera Pedi

Costas Athanasiou Group of Companies

Timotheos Panagiotou

The Municipality of Limassol

S.A. Mesaritis Developers Limited

National Bank of Greece (Cyprus) Limited

Medochemie Limited

George Roussos Group of Companies

The Municipality of Pano Platres

Work highlights

  • Advised on the formation of a joint venture company (JVC) which intended to invest in various land development projects in Cyprus. Advised the JVC on the receipt of a €21m loan, to be subsequently distributed as a secondary loan to three entities for the purposes of land development. The transaction further included the sale, purchase of land and buildings. The parties decided not to proceed with the transaction and all the necessary steps needed to be taken for the cancellation of all the agreements the parties entered into, as well as, the repayment of the amount of the subordinate loan initially paid by the client.
  • Acted for a developer company on the sale of multiple properties, negotiations with banks for the provision of loans and the transfer of the properties.