The Oval: The new business class is on its way


On Wednesday the 9th of December, Cybarco, Cyprus’ leading luxury property developer, hosted a themed cocktail evening with CIBA members and friends of the Association at the Carob Mill in Limassol. Themed “Limassol, an International Business Hub”, the event focused on Limassol as a new vibrant and international business destination.

During the event Mr Frixos Savvides, the President of CIBA, reflected on the past 30 years, stating that ‘Cyprus is the home of more than 100 shipping companies and more than 1.000 international business companies with fully staffed offices, which all together make a significant contribution to the national gross domestic product’.

The Oval, by Cybarco, is the latest development attracting international companies to the much-loved and diverse Mediterranean island and is a prime example of the increasing demand for state of the art office space in Cyprus. Located in Limassol just 100m from the sea, the pioneering development, which will stand sixteen floors high at 75m when it is completed in 2016, has already reached the eleventh floor. The structure of the two basement levels, able to accommodate more than 200 cars, the double-height ground floor reception area, as well as ten office levels have also been completed.

Mr Michalis Hadjipanayiotou, the CEO of Cybarco Development, expressed his confidence in the results to date: “We are extremely pleased with the way Limassol and Cyprus are evolving. The economy has stabilised and is growing.  The Oval, a new landmark project for Limassol will further enhance the image of the city as a business centre. We are experiencing increased interest in the need for office space of this calibre in prime locations, which would account for 38% of the building already being sold and reserved, with prices starting from €54.000 or from €3.800 per square meter.”

Each of The Oval’s sixteen floors enjoys uninterrupted sea views and flexible open plan design, making it simple to adjust to the requirements of any business. The project’s distinctive design is complemented by the luxury reception areas on the ground floor, the landscaped gardens and the cafeteria, as well as the services offered which include property management, 24-hour security and controlled access to both the building’s premises and underground parking areas. With an energy performance certificate of ‘A’ rating, the project is a sustainable development using geothermal energy to minimise carbon emissions.

The Oval is a creation of Cybarco, Cyprus’ leading luxury property developer. Part of the prestigious Lanitis Group, established in 1945, Cybarco has earned its reputation for outstanding quality and customer satisfaction delivered to the highest standards. The company is behind many of the island’s landmark projects including Akamas Bay Villas, Sea Gallery Villas and Limassol Marina, the country’s first residential marina project.

For more information or to arrange a bespoke viewing, call us at 8000 50 30

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