Pafilia signs €77M construction contract for its tower development ONE in Limassol

01-12-2016

Pafilia signs €77M construction contract for its tower development ONE in Limassol

Pafilia signed a €77M construction contract with J&P and ACC today, marking a significant milestone for the company, city of Limassol and island as a whole. The event took place at their impressive new office on the Limassol seafront and was followed by a drinks reception to celebrate this important step in the realisation of one of the most ground-breaking developments in the history of Cyprus.

ONE, the tallest residential seafront tower in Europe, will undoubtedly become Cyprus’ landmark building. At 37 storeys, the monumental height of ONE will redefine the Limassol skyline, it will be a beacon of progress visible from anywhere in the city.

Pafilia has selected the world’s most renowned architects, designers, engineers and specialists to achieve its ambitious vision. J&P and ACC are the latest companies to join the high-profile team which includes Atkins, WKK Architects, Burohappold Engineering, HBA, Meinhardt and Pafilia’s Supervision Team, all of whom are leaders in their respective fields. The international team is complemented by a team of local consultants and engineers including Eraklis Papachristou Architects, P. Papadopoulos & Associates Consulting Engineers LLC, Georgiou & Zembylas Partners Ltd, Marinos N Panayiotides Chartered QS, Intfire Cyprus Ltd and Stefanos Ioannides Accoustics.

Pafilia is a true pioneer in the Cyprus real estate sector. With ONE, it has played an instrumental role in introducing iconic high-rise buildings to the island. ONE will be double the height of any current building in the city of Limassol, it will be an architectural masterpiece that will set the benchmark for luxury development in Cyprus. In recent years, Pafilia has also significantly influenced contemporary architectural design, having been the first company to collaborate with world-renowned firms.

"ONE will not only be the first tower of its kind on the island but will raise the profile of Cyprus as a destination in which to invest. With ONE we have addressed the needs of ultra-affluent clients that seek extraordinary homes with the finest facilities and service." commented Eva Eliadou, Executive Director.

The strategy has proven highly successful, over 55% of the units have already been sold, despite having only been launched earlier this year. Pafilia, the company behind two of Cyprus’ most prestigious and largest real estate projects, namely Minthis Hills Golf Resort and ONE, has successfully positioned itself as one of the leading luxury developers in Cyprus and the Mediterranean region. Its bold approach, outstanding innovation and highly effective commercial strategies has placed the company at the forefront of the industry.