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First Cyprus SIPP properties launched

26 Mar 2010

SIPP concept

Properties at Sunset Springs Resort near Limassol, being built by Petevinos Group, are available as traditional lifestyle investment purchases through whole or shared ownership, or as an investment-only SIPP product.

«We see the pension transfer product as very popular in this marketplace at the moment» said Pam Prince, a director at Pure Cyprus Invest, UK representative of the Petevinos Group. «IFAs are very active at the moment and we knew Cyprus would be acceptable to SIPP investors because it recognises UK trust law».

Petevinos Group via own representatives in UK also intends to offer fractional ownership through the SIPP purchase programme within the next few months. It hopes to provide holiday exchange services through an affiliation with global exchange programme RCI.

The development will include hotel room and individual resort properties, all of which will be managed as commercial hotel property and can therefore be purchased through a SIPP. «We want to appeal to a wide audience including people who will need larger accommodation than the space provided by a typical hotel room» said Prince.

Building is due to start in the first half of the year and scheduled to take 18 months to completion. «We’re not waiting for sales to come through because we have private investors to fund the building of the resort» said Prince.

Source: Overseas Property Professional

Featured properties:

Sunset Springs Resort Sunset Springs Resort & Spa
Modern luxury full service resort of one and two bedroom apartments in 10 minutes drive from the center of Limassol. Eco homes.

Full service hotel in the center of Limassol Sunset Springs Hotel
Mediterranean design full service hotel. One and two bedroom apartments. Indoor heated pool, spa and fitness room.

Виллы, апартаменты и пентхаузы в центре Лимассола Limassol Residences Park
Luxury complex with contemporary design in the center of Limassol. Two bedroom apartments, three bedroom penthouses, three & four bedroom villas.

Company news

26 Mar 2010
First Cyprus SIPP properties launched
Properties at Sunset Springs Resort near Limassol, being built by Petevinos Group, are also available as an investment-only SIPP product.

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