introductory study investment opportunity in cyprus health care

INTRODUCTORY STUDY
INVESTMENT OPPORTUNITY IN CYPRUS
HEALTH CARE CENTRE WITH REHABILITATION ANNEX
POSSIBILITY TO BE COMPBINED WITH RETIREMENT VILLAGE
I.Introduction
PAFOS is the “Cypriot seaside resort par excellence” and it is said that no visit to Cyprus
would be complete without spending at least a few days in Pafos. It offers a superb
combination of beautiful scenery and places of historic and legendary interest, and the
attraction of a picturesque harbour and castle where local taverns, fishing boats and
outstanding archaeological sites enchant every visitor. Ancient Greek, Roman, Byzantine and
medieval rulers of Cyprus all left their mark on this part of the island. Pafos is romantically
associated in legend with Aphrodite, the Greek Goddess of love and beauty, who according to
Homer was born from the soft sea foam of the Pafian Sea.
Pafos is a colourful and beautiful laid out little town, superbly situated on a rocky
encampment overlooking the sea and the historic harbour of New Pafos. It was the capital of
Cyprus during Roman times. The whole area of New Pafos is rich in historic remains ranging
from the castle and ancient wall defence to the fascinating “Tombs of the Kings”. These
tombs, of which there are about a hundred, are carved out of solid rock underground, some
containing Doric pillars of such significance that were very aptly given the name “Tombs of
the Kings”. Pafos boasts of an interesting little museum containing historic objects that have
been found from all over Pafos District, and the Episcopal Palace has a Byzantine Museum
with many interesting icons and liturgical vessels.
Pafos, for a number of years now, has been a place of hotel and other tourist developments,
well planned taking care not to spoil Pafos beauties due to the restrictive laws on density,
quality and type of development, which keeps to the natural environment. It has also been
the main destination of residential homes for holidays or retirement. The hospitality of the
inhabitants also helps Pafos to flourish in tourist and residential developments. Now that
Pafos is getting developed with better roads, quality restaurants, cafes and other recreation
centres, and better operation of the new International Airport and coastal public beach
facilities, helps Paphos stay in the forefront of Cyprus tourism.
GEROSKIPOS subtown, almost joined with Pafos Town houses the proposed unique SITE on a
hillside with attractive rocks on the very top area, providing exclusive investment
opportunities. Groskipos has interesting ancient churches and a museum; and the word
“Geroskipos’’ means “sacred gardens’’ and mythology has it that they were the gardens of
Aphrodite. Three golf courses are found nearby and the creation of quite a lot more golfcourses is within the Government Policies. A theme park site just below Geroskipos facing the
proposed SITE for development has been for a long time a proposed one which, when finally
developed, will attract higher income tourists, as is the main goal of the Cyprus Tourist
Organisation (C.T.O.) with the development of golf courses, health resorts / spas etc.
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INVESTMENT OPPORTUNITY IN CYPRUS
HEALTH CARE CENTRE WITH REHABILITATION ANNEX
POSSIBILITY TO BE COMBINED WITH RETIREMENT VILLAGE
GEROSKIPOS HEIGHTS, ENTRANCE OF PAFOS TOWN
A plot of great potentials for different number of development possibilities. Prime location with
spectacular view of the sea tourist coast and the Pafos Town
Location / Position of the Exquisite Site (Plot 181)
The area of the Site (Plot 181) is 3 hectares and 1.439sqm (31.439m2). It is situated
within the extended builtup area of Geroskipos, a superb location, that tends to unite
with the Town of Pafos, although it has its own municipality.
The new fourlane highway connecting Limassol and Pafos is at a fair distance from
the site providing easy accessibility, but causes no disturbance, as the Site starts
from the hilltop down on the reverse side of the highway. Two important bypasses
connecting Pafos with the highway to Limassol and the airport (about 4 km away)
will pass at a fair distance lower from the proposed to be developed Site.
The road accesses are continually improving, leading to Pafos and the Eastern
Coast, with its many 45 star hotels. Pafos growth in tourism will continue to be on the
highest level in Cyprus, mainly because it houses most of the 4 – 5 star deluxe
hotels of the island, has natural and archaeological attractions, restaurants / taverns,
amusement / entertainment places.
Viability Considerations of this Selective Site (Plot 181)
The prime location/position of the Site, nearby the crossroads at the entrance of
Pafos Town from the Limassol/Pafos highway, on a highersloping elevation, provides
excellent views of the Pafos Town and Eastern Coast, as well as mountain views
and rocky skyline of the Site itself, adding to the unique characteristics of the place.
The weather is even better than Pafos due to the higher elevation of the Site
avoiding the rather heavy humidity of costal Pafos, especially in the summer months.
The above as well as its quite large area itself provide excellent prospects for quite a number of viable projects. It
is widely considered that a Health Care Centre with a Rehabilitation Annex and with a number of studios or rather
smaller(1-2) bed homes chalets at the higher part (Part A), aside and lower the club, and care homes on the lower
part (Part B),designed for local and foreign persons interested in their wellbeing, could be a very viable scheme.
This kind of business will be more successful, if a reputable international enterprise as proposed hereto, is
involved and possibly then the complete site will be used for larger Health Care Centre with more services and
dwellings.
The Site is suitable also for a holidays Retirement Village for grownups,(over 55 years) and a smaller Health Care
Club; both such projects may be encouraged and funded by the EU.
The openness of the place in comparison to the small fitness services offered in a closedin environment, as is the
case of many hotels in Cyprus, is a superb plus that adds up to the potential possibilities of this selective
development.
Geroskipos public beach is facing the Site on eastern coast of Pafos (2km) and in between and huge University,
Health and Residential Complexes (NEAPOLIS) are soon to start to develop; actually a university is already in
operation. Very recently there was a press release from Geroskipos Municipality with the topic “Geroskipos
becomes HAWAII – 3km Coastal Development’’ that will attract a lot of local and tourist interest (see attachment).
These together with the start of another golf course around, 4 km Eastwards, will surely add to further
development prospects of the proposed here to project.
With careful planning this exquisite Site can be developed, in one way or another, to become an ideal proper
development at the proper place in a country very well known for its tourist attractions and good climate all year
round.
Owners are open for discussion with Investors/ Developers for a joint – venture, or straight
forward sale of the whole Site or part A or Part B
Tel: 22669484/ 99448584/ 99562717 Email:
[email protected]
www.ideahomefinder.com
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PRESS RELEASE (22/01/2011) FROM GEROSKIPOS MUNICIPALITY
“Geroskipos becomes HAWAII - 3 km Coastal Development’’
The development starts from the Eastern part of exiting Geroskipos Public Sandy
Beach, under the auspices of Cyprus Tourist Organisation, which is enlarged and
better developed. The master plan consist of Public Sandy Beaches, walking and
cycling pathways, all through the 3 km coast, sports and playgrounds, many tennis
courts, ice skating, typical bars, small cafe restaurants with major ATLANTIS
RESTAURANT ENTERTAINMENT CENTRE to be the largest. Also other leisure
places, a lot of controlled parking spaces, water and green parks, green places
with scattered typical benches, country clubs and plenty of trees, keeping most of
the existing ones.
Inside the sea all along these three mileage coast, there will be twelve
breakwaters, creating wonderful sandy and current/ wind protected beaches. The
whole place will be attractively lighted and will always be green and clean. The
whole development is planned to be completed by the end of 2013.
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sq. metres
TOTAL AREA 3 hectares an 1439 sq.metres
sq.metres
31,439
Less: Approx. area of access roads and green places proposed to be upwards
near the rocks 17% for greenery 5.345 sq.m + 3.094 sq.m (approx) for Roads
DEVELOPED AREA Building area proposed to become 40% (from existing
30%) plus 6% (on 40%) for united development, that is 2,4% plus 10% due to
the sloping elevations, (on 40%), that is 4% total 46.4%on 23.000
8,439
23,000
10,700
PROPOSED DEVELOPMENT (UNITED) Description of proposed development
Club & Residences, mostly split level
Proposed Development
Site Area
Built Area
11,000
5,000
12,000
5,700
23,000
10,700
Upper Part A A. Health Care Centre with Rehabilitation Annex
Lower Part B B. Either Retirement Village with Villas and Cottages for
Private/Fractional Sale or Lease/Rent. Or longer Rehabilitation Centre,
combined with residencies for Private/Fractional Sale or Lease/Rent.
Note: Above figures are for indicative purposes
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GREEN
A
B