The total investment by Pafilia for this project will be one hundred and twenty million euro (€120m)with the construction contract valued at seventy-seven million euro (€77m). The self-investment project is expected to boost the local economy while increasing employment opportunities in the construction and services sector.
The official signing of the contract will take place on 30th November at Pafilia’s new property office, which is located at 307 – 309 28th October Avenue.
ONE was recently honoured with a Five Star award for Residential High-Rise Development at the European Property Awards 2016-2017, organised by The Telegraph in London. ONE is the tallest residential seafront tower in Europe, at 170 meters above ground. It is situated in a prime location, in the heart of the city on 28th October Avenue, the iconic development offers world-class amenities and services, setting a new benchmark for luxury living in Cyprus. ONE comprises 37 floors, 83 luxurious apartments and a three-floored penthouse, all with uninterrupted sea and mountain views.
The project is a new landmark for Limassol and Cyprus as a whole, changing the city’s landscape, facilitating the country’s goals and enhancing its image as an attractive destination for foreign investment. It positions the island on the international luxury property market and is worth noting that over 55% of the development has already been sold.
The ONE development is a milestone for the company, as well as the real estate sector in Cyprus setting the highest standards in architecture and design aesthetics. The project raises the bar for quality constructions, perfectly meeting buyers’ requirements, while fulfilling Pafilia’s commitment towards its clients for secure investment opportunities.
The selection of the construction consortium, Joannou & Paraskevaides Group (J&P Group) with wide experience in construction works in Cyprus in combination with the knowhow and expertise of the Arabian Construction Company (ACC) in high-rise developments abroad, ensures the execution of the project to the highest quality standards within the contract time frame.
Source: InCyprus
