March 2023. Summer Capital has closed the acquisition of land in the area of Messa Getonia (Limassol).
Summer Capital is pleased to announce the closing of the acquisition of land in one of the central neighborhoods of Limassol, Cyprus. The land purchase was fully paid for with Summer Capital's own funds.
Two projects will be completed on this plot of land. The first project is a residential building with a total area of 1,600 sqm for 16 apartments including 2 penthouses. The second is an office building of 1,800 square meters. Both projects will be designed in a modern architectural style and utilize energy efficient technologies. The project has been assigned ecological Class A, and is scheduled to be completed in 2026.
The total cost of the two projects is €14,000,000. The payback period of the project is up to 3 years. The start of sales is scheduled for 2024.