ARISTO KONIADEVELOPERS VILLAGE 1
Your property partner of choice Guided by our strong roots, principles and successful history, we continue to strive for an even more dynamic future respecting our clients, associates, community and environment.
Theodoros Aristodemou Chairman & Managing Director Aristo Developers Group
ARISTO Developers is the most innovative and reputable property Development Company in Cyprus, with a successful proven history, a firm commitment to customers and a guarantee of total reliability. Founded by Mr. Theodoros Aristodemou in the early 1980's, ARISTO Developers, based in Pafos, is today the largest private landowner in Cyprus.
With over 300 employees worldwide, the Company has 20 offices located in Cyprus and overseas; a total of 450 associates working globally in conjunction with ARISTO. The Company's professionalism and expertise combined with a wide range of tastefully designed projects, a highly professional after sales service, invaluable property management and easy payment facilities have allowed ARISTO Developers to become the market leader. With over 265 exclusive projects in and around Pafos, Polis Chrysochous, Limassol, Pissouri, Nicosia and Ayia Napa, ARISTO provides an extensive range of freehold property choices, encompassing all types of apartments, maisonettes, retirement homes and luxurious detached villas. As 'location' is a fundamental element to consider when purchasing a property, ARISTO offers not only a vast selection of homes including beachfront properties with breathtaking views, but also organized communities with accessibility to local amenities and services with most of the properties conveniently located close to major roads and transport networks. Additionally, ARISTO is a pioneering force behind investments in golf-integrated resorts and has successfully developed the first two fully operational golf courses in Cyprus. In 1999, ARISTO established its first Greek subsidiary 'ARISTO Hellas', to focus on property developments in Greece. The Company has developed residential and business premises in selective areas of Athens and has acquired exceptional coastal plots in prime locations around Greece. ARISTO Developers has been awarded the internationally recognised Certificate ISO 9001 and is proud to be 'The First Quality Developer in Cyprus'. Since April 2007, the Company became a member of the Dolphin Capital Investors Group of Companies, the largest institutional investor in the holiday home sector in south-east Europe and is listed on AIM (Alternative Investment Market) of the London Stock Exchange. The shareholder's registry of Dolphin Capital Investors includes leading financial institutions.
NORWAY Stockholm SWEDEN
Moscow RUSSIA UNITED KINGDOM Kiev UKRAIN
Tehran IRAN Athens Syros Zakynthos GREECE
ARISTO PROJECTS ARISTO OFFICES AFFILIATED OFFICES/EXCLUSIVE PARTNER
In 2008, ARISTO developed a new corporate identity, continuing efforts to modernise and upgrade the Company's presence and products in the Cypriot and Greek markets.
The new logo reflects the strong existence of ARISTO Developers in the Mediterranean region, combined with a new dynamic orientation. Keeping the basic elements of the original logo, a new design evolved. The bright blue symbolizes the purity, freedom and power of the Mediterranean Sea, with the gold symbolizing the sun, the earth and the highest degree of perfection. Continuing with this process of evolvement, ARISTO Developers has released to the market for the first time, projects of particularly high aesthetics and luxurious finishes, designed by internationally renowned architects and situated in the most stunning of locations. These projects are in addition to the wide range of existing quality projects, which are constantly being upgraded and enriched. For this purpose, ARISTO projects are now classified under two specific categories, with two distinct names:
S I G N AT U R E The exceptional category of superior, high-end projects, combining unrivalled luxury, world-class designs and architecture and incomparable locations.
CLASSIC The classic and extensive category, encompassing a range of acclaimed high quality projects.
THE ARISTO PROMISE
Cyprus has a proven history of being a popular holiday destination. With a perfect Mediterranean climate of over 340 days of sunshine a year, a selection of beautiful beaches, existing and new marinas soon to be developed and historically important areas combined with the world famous Cypriot hospitality, many holidaymakers choose Cyprus as the country to visit. Cyprus now has the added attraction of golf. The allure of a golfing holiday providing luxurious accommodation and a stunning location has proven that Cyprus is becoming a leading golf haven for golfers seeking world-class, challenging championship courses. Golf as a lifestyle has numerous positive attractions, including an important impact on health. Walking around miles of magnificent green courses, inhaling fresh air, whilst enjoying the game of golf has a lasting beneficial effect on your wellbeing.
ARISTO Developers has recognised the important implications of golf in Cyprus and is working relentlessly to introduce the largest investment ever developed on the island - Venus Rock Golf Resort, plus a selection of other luxurious and unrivalled projects.
ARISTO is constantly planning for the future. Whilst identifying the most exclusive and suitable property locations in Cyprus and Greece utilizing our creativity, experience and technical expertise combined with strict environmentally friendly policies, we aim to produce an extensive selection of unrivalled, superior quality properties at competitive and affordable prices for sustainable living. Part of our promise is to enhance our property development range with unique, luxurious integrated projects and continue to use it as a platform on which this strong and lasting Company is built - a Company which constantly extends its broad spectrum of activities both in Cyprus and abroad and is able to compete and succeed in any operating environment. Being firm believers in the idea of 'creating sustainable lifestyles', rather than simply constructing houses, we will continue our efforts to further enrich the style of living in Cyprus, by contributing to the following important aspects: leisure, amusement, sports, recreational and educational facilities, whilst always preserving the surrounding natural environment and contributing our utmost to the communities. We pledge to not only provide our customers with the highest quality of unrivalled properties in the most convenient and resplendent of locations, but to also offer a service before, during and after purchase. Our aim at all times is for customer peace of mind and we strive to achieve the utmost satisfaction in all aspects regarding their home, including the highest standard of care and attention to detail.
THE ARISTO PRODUCT
ARISTO creates the perfect product to suit individual customer requirements, whilst ensuring the â€˜chosen locationâ€™ accommodates every need.
ARISTO prides itself on being renowned as the market leader and largest landowner in Cyprus. Many plots are set in the most sought after and prestigious areas. ARISTO's extensive portfolio offers a comprehensive and diverse selection of freehold properties, giving the individual customer the opportunity to make the right decision when purchasing a new home.
The ARISTO 'CLASSIC' range includes superb 'value for money' apartments, studios, maisonettes and villas, all built to the highest of standards offering excellent investment opportunities. Additionally, under the ARISTO 'SIGNATURE' umbrella, an exclusive selection of opulent and awe-inspiring 'dream' homes, have recently been launched. Situated in only the most spectacular of locations, with unparalleled designs by world famous architects and designers and finished to the highest calibre possible, these properties set a new benchmark in Cyprus. ARISTO also offers unique opportunities to invest in plots of land in magnificent prime locations.
THE ARISTO SERVICE
Our services are customer orientated and include an After Sales Department, Customer Services & Facilities Department, Owners Club and Re-sales Department. Once a property has been purchased, our attention to detail and customer satisfaction does not stop there. ARISTO has devoted a large amount of resources to continuous first-class services and support for property owners. The Owners Club consists of a professional team with the sole purpose of offering all clients a dedicated and efficient service. Once a property sales agreement has been reached, the purchaser is welcomed and introduced to the â€˜ARISTO worldâ€™. The team provides a direct link between the customer and ARISTO Developers, offering immediate assistance, guidance and support and the coordination of information from all departments.
ARISTO offers a selection of exclusive benefits and services, encompassing a wide range of helpful and useful options. The Company can assist with interior design and decoration, the purchasing process of furniture, electrical appliances and all household products, including fitting and delivery arrangements - even in your absence. As the leading property developer on the island, we are able to offer a huge and varied selection of shops from which you can choose your goods, with the added benefit of excellent package deals already negotiated on behalf of our customers.
The ARISTO Developers Creative Landscaping Team will help to design a beautiful Mediterranean garden within your allocated budget, extending your living space to the outdoors. This includes an offer of free maintenance for three months, a guarantee of six months on plants and a one year guarantee on the irrigation system. Whatever your requirements, ARISTO offers a comprehensive free customer service, second to none.
Customer care is of paramount importance at ARISTO Developers. We only employ the highest calibre of personnel within the Company and to further strengthen the abilities of our staff we place great emphasis on training and development. Therefore, at ARISTO we are very proud of our friendly, personal and efficient service, with the knowledge that our highly trained and experienced team are always readily available to assist customers, whatever the query may be. Having made the decision to purchase an ARISTO property, it is important to protect and maintain a home throughout the years to come.
ARISTO offer 'Home Warranty', ensuring our customers remain satisfied and have peace of mind regarding all issues related to home ownership. Our client orientated approach, combined with our highly trained staff, ensures that all of our customers receive the utmost care and help. Additionally, ARISTO can assist in arranging flights, transportation, house and motor insurance, plus any other guidance required, ensuring complete customer satisfaction.
Climate The island boasts a warm Mediterranean climate all year round. Hot Summers and warm Winters, little rain and an abundance of sunshine mean outdoor living is inherent on the island. Lifestyle A high standard and low cost of living is present in Cyprus. It is an extremely popular destination for people wishing to emigrate, retire, invest or buy a holiday home. With stunning scenery and breathtaking landscapes, surrounded by the Mediterranean Sea, the island, full of tradition and history, offers a new life for those wishing to increase their standard of quality living. Infrastructure The well developed infrastructure is supported and maintained by both the Cyprus Government and the European Union. There are newly expanded and refurbished international airports, a modern motorway network and existing and planned marinas. Education There is a high standard of education in both public and private schools. State schools, state and private universities, International Schools and American Academies offer worldwide respected education for students from pre-primary age through to adulthood. Healthcare A combination of public and private healthcare is available across the island, typically offering exceptionally high standards. State of the art, modern hospitals and clinics combined with highly trained international medical staff ensure healthcare is second to none in Europe. Financial & Tax Benefits Cyprus boasts low interest rates and an excellent banking system. There is ZERO Inheritance & Wealth Tax, whilst Corporate Tax is as low as 10% and tax on pensions is as low as 5%. Banking System The Central Bank of Cyprus exercises strong regulatory control over all banks operating in Cyprus. As a result Cypriot banks are financially secure and safe organisations that offer a modern and efficient service to both business and private clients. Legal System The legal system is based on international and EU law. A strong network of legal assistance is available, with multilingual speaking professionals, offering sound advice and guidance in all aspects relating to legal issues, including the protection of human rights. Tourism Tourism is a guaranteed high earning sector and contributor to the Cyprus economy. The potential for growth in this area is huge and in turn, financially benefits all sections of society. Low Crime & Safety The crime rate in Cyprus is well below the European average, providing a safer and more relaxed environment for its residents and visitors. Europe Since May 2004, Cyprus has been a member of the European Union. Since January 2008, the Euro currency has been introduced, replacing the Cyprus Pound.
Reputation & History With over 30 years experience in the Cyprus Real Estate industry, ARISTO is the leading property developer on the island. Boasting a huge expanse of over 265 projects across Cyprus, ARISTO also possesses the island's largest private land-bank. We are proud to be the recipient of numerous international awards and be internationally recognised as a 'Class-A Builder'. Quality ARISTO has a dedicated commitment to excellence in the delivery of products and services. The Company prides itself on being the first property developer to be awarded the prestigious ISO 9001 Assurance Certificate. Guarantees & Safety Peace of mind for our customers is of paramount importance and their absolute satisfaction is our mission. Delivery dates and receipt of title deeds are realistic and strictly adhered to; allowing the customer the freedom to concentrate on making their new house into a dream home. The Customer is King ARISTO is purely and simply a customer driven organization. As our customers' needs are our top priority, we offer a full range of support services dedicated to assisting all property purchasers, every step of the way... and unceasingly thereafter. Wide Range of Properties Whether our customers aspire to permanent living, a holiday home, retirement or investment from their purchase, the diverse and extensive variety of property offered by ARISTO is second to none. All tastes and budgets are catered for and include Studios, Apartments, Beach Villas, Golf Villas, Townhouses and Traditional Stone Built Houses. Our innovation, forward thinking and dedication to producing supreme quality properties have led to the imminent Venus Rock development, where beachfront locations, golf properties, our value for money 'CLASSIC' range and luxurious 'SIGNATURE' properties will add to our outstanding and comprehensive portfolio. Easy Finance As part of our ongoing customer orientated mindset, we have negotiated special finance terms with banks, enabling the buyer to structure their payments in a way which suits their individual circumstances. We strive to reduce or eliminate the sometimes daunting aspects of purchasing a property and these mediated financial arrangements are designed to do just that. Environment & Harmony ARISTO Developers is a friend of the environment, promoting the harmony of each development within its natural terrain. We take pride in being careful to respect and preserve the indigenous, unspoilt beauty of the surrounding areas, whilst in fact adding to them, by planting large numbers of trees and plants native to Cyprus. International Company ARISTO is the main property developer under the umbrella of the Dolphin Capital Investors Group of Companies. The Group is the largest institutional investor in the holiday home sector in south-east Europe and is listed on the AIM (Alternative Investment Market) of the London Stock Exchange. In addition, the company maintains a worldwide Agents Network, serving clients in a global capacity. Location The expectations and criteria of every existing and potential customer of ARISTO can be met within the 265+ island wide projects across Cyprus. Whatever the specific location requirements of our customers are, we can provide absolute satisfaction; developments range from rural to town locations, peaceful idyllic retirement complexes to vibrant and busy sporting centres, or basic value for money developments to those exclusive, luxurious and secluded havens such as Secret Valley and Venus Rock.
ISO 9001 QUALITY
Anti-seismic Design All constructions comply with the seismic code for reinforced concreted buildings and CYS 159. Excavations and Filling All the loose and unstable soil is removed until sound and stable ground is reached on which the foundations of the building will be constructed. In cases where filling is required to obtain the required levels this is done with special soil which is approved by the site engineer. The soil is compacted with vibrators and all the necessary compaction tests are done. Where necessary, geotechnical investigation is conducted in order to obtain detailed information about the soil stability. Concrete Works (CYS 159) The strength of concrete of the skeleton is generally C25 unless otherwise is specified on drawings. The concrete is mixed by ISO approved company and fulfil the requirements of CYS111 and is checked at all stages of construction with compression tests and slump tests to ensure that the proper strength and workability is reached. If the test fails, all remedial measures are done so that the stability of the structure is not affected. During concreting works vibrator is used to obtain the required density. The curing of concrete is done three times a day for at least two weeks unless stated otherwise by the site engineer. The steel reinforcement is imported and supplied by ISO approved suppliers and must fulfil the European standards. When it comes to site we ensure that it is labelled for its standards and certificates obtained by the suppliers to confirm its strength. The longitudinal reinforcement will always be S400 or S500 and the lateral reinforcement S400 or S220 all according to the structural design, drawings and details. Insulation When concreting against earth, heavy duty polythene sheets are placed for proper insulation. All the roof slabs, verandas and retaining walls are insulated with bituminous sheets â€œSPECIAL POLYESTERâ€? 3mm thick (or other if specified by the civil engineer) Brickwork Clay hollow bricks of good quality by approved supplier. Random tests (compression, chemical, visual) are carried out to ensure the quality. The shape of the bricks is also checked (buckling and regularity of shape). Rendering Specifications for ordinary and rapid- hardening Portland cement used for the production of mortar for rendering according to CYS16. (The Cyprus Standard specifies requirements for the composition, the manufacture of the chemical and physical properties of ordinary and rapid-hardening Portland cement). Manufactures certificates obtained for checks and approvals. The sand used for the composition of mortar mix as per CYS 14. The suppliers are approved by the site engineer and provide certificates for the sand to comply with the requirements of CYS 14. Other materials All other materials used for building construction works like roof tiles, pipes for drainage and plumbing, painting etc, are supplied by approved suppliers and certificates for quality are obtained. Random checks are done to ensure the quality of the materials. Instruments All the measuring and survey instruments are calibrated regularly and records are kept for reference. Any instrument that fails to pass the test is sent to the manufacture for repair and if not repairable is discarded and replaced with new.
Cyprus has proved to be an increasingly popular place for retirement and/or for the acquisition of holiday houses by foreigners. Demand, which is continually increasing, has been driven upwards mainly from the European Countries, with the bulk (70%) comprising of UK citizens. The upsurge in demand for property by foreigners is attributed to many factors, including the relatively low cost of living and the high quality of lifestyle available. In addition, the unique hospitality of the local population, the attractive climate, the increasingly important role of safety (Cyprus is one of the safest countries in Europe with crime at a very low level) and security, have all played an important role. Demand and market activity has caused local property values to show a steady and at times sharp appreciation, but this trend has now a slower pace.
Local property prices however, are still much lower than those of other European
countries. Prices of holiday homes in Cyprus are on average 20% lower than in Portugal, 30% lower than in Spain and 50% lower than in Italy and France. With Cyprus now a member of the EU, most of the procedural restrictions on property purchased by EU members will eventually be lifted, after April 2009. Until then, EU and non-EU citizens are entitled to freehold ownership of one property or piece of land up to 4,000 square metres. As the law stands now, EU nationals who live or work in Cyprus still need a permit to own any kind of immovable property. EU nationals who do not live or work in Cyprus need a permit to own a house or apartment, but they do not need a permit to own land. The permit required is easily obtained via a straightforward process.
Buying property as an investment Local property values have shown a steady upward movement over the years and property, especially beach front property, has shown a considerable appreciation. Relative to equivalent property found in other Mediterranean and Southern European countries local property is believed to offer good value for money and the island’s increasing popularity by the international market further supports this. As a general rule we could say that property income returns are in the region of 5-6% per annum on current values. In addition, the annual appreciation on real estate values are in the region of 8%-12% per year.
Legal Safeguards The legal system is Cyprus is largely based on the British equivalent and safeguards the purchaser’s rights in many ways. For the purchaser’s protection, once the sales agreement has been signed and a deposit paid, the Land Registry in Cyprus provides a simple and effective legal instrument called the “Specific Performance”. This procedure protects the purchaser’s ownership rights until the title deeds are issued and transferred to their name. The contract in the hands of the Land Registry cannot be withdrawn by anyone; and therefore the property cannot be leased, sold, transferred or mortgaged. This status can only be altered by the purchaser himself.
Stamp Duty A one-off stamp duty is levied on the purchase of property in Cyprus. The rates are dependent on the contractual purchase price and payment is due within 30 days of signing the Sale Agreement. The amount is payable by the purchaser to the tax authorities. Purchase Price in € Stamp Duty in % Up to €170,860
Transfer Fees The purchaser will be liable to pay the following transfer fees for the property acquired, when this is registered in his/her name at the Land Registry Office. The fees are charged on the property’s market value at the date of purchase. Property Value in € Transfer Fee (% on property value) % Up to €85,430
€85,431 - €170,860
(The rates above apply per person)
Immovable Property Tax Each registered owner is liable for this annual tax which is based on the value of his/her property as of 1st January, 1980. The following rates apply on the comulative 1980 value for each individual person: Up to €170,860
€170,861 - €427,150
€427,151 - €854,300
Capital Gains Tax Capital Gains Tax is levied at 20% on gains arising from the disposal of property by each individual person.The gain is reduced by an indexation allowance that takes into account the inflationery increase over the years the property was owned. Non-residents are only taxed when selling property situated in Cyprus.
Allowances The following allowances are available to individuals: The first €17,086 of gains arising from the first disposal of any property in Cyprus.
The first €85,430 of gains arising from
the disposal of a house used by the owner for his/her own habitation. This allowance can only be claimed once.
individual claiming a combination of the above allowances in only allowed a maximum allowance of €85,430.
Inheritance Tax Inheritance Tax has been abolished with effect 1 January 2000, and is no longer imposed.
Local Authority Tax Property taxes levied by the local authorities are payable annually and may vary, depending on the size of the property. The tax covers the cost of garbage disposal, street lighting, etc.
Communal Expenses Communal expenses cover an owner’s share towards the cost of cleaning and maintaining a project’s communal areas, gardens, swimming pool, management fees and repairs. These are payable at fixed intervals throughout the year and vary from development to development and from property to property.
ARISTO DEVELOPERS - COMPANY DEPARTMENTS
ARISTO has a number of 'in-house departments' all working and coordinating together to allow the Company to operate in a precise, smooth and accurate manner, providing outstanding services that one would expect from such a reputable organisation.
Accounts & Finance Department Administration Department After Sales Department Architectural Department Civil & Site Engineering Department Construction Department Customer Service & Owners Club Design & Structure Department Health & Safety Department Human Resources Department IT Department Marketing & Creative Design Department Purchasing Department Quantity Surveying Department Sales Department
ARISTO DEVELOPERS is a member of the DOLPHIN CAPITAL INVESTORS Group of Companies
Rev: 3.0 11/2010 Marketing 11/2010
Tel: 0203 189 2099 Fax: 0870 912 0374 E-mail: email@example.com
ARISTO DEVELOPERS is a member of the DOLPHIN CAPITAL INVESTORS Group of Companies