Elite Island Properties is a new real estate development company founded by Beirut civil engineer Fouad Matar, who has built projects in Lebanon, Saudi Arabia and other Arab countries for 40 years.
The company in Cyprus was founded in 2016, before that Matar visited every city in Cyprus (Limassol, Paphos, Nicosia, controlled areas of Famagusta and Larnaca). Then he chose Larnaca as he saw here the greatest potential for construction and investment.
In Larnaca, it was decided to develop the Mackenzie area, the fashionable coastal neighborhoods located between the city center and the island's largest international airport. Since, according to Fuad, this area is the most promising in Larnaca and one of the most promising on the island.
Currently Elite Island Properties has three large luxury projects:
Elite 176 (completed) is a four-storey complex with two bedroom apartments.
Elite Tower (to be completed by the end of 2021) is a nine-storey complex with 1-4 bedroom apartments.
Elite 176 (to be completed by 2023) is a six-story complex with 1 and 3 bedroom apartments.
Why Elite Island Properties:
All projects are carefully created by Fuad himself, who, as a civil engineer, puts all his strength and knowledge in the design and construction of luxury real estate.
Projects are created not for speed, but for quality. At the moment, only 3 objects have been built or are under construction in Mackenzie, each of which is a high-quality housing complex.
The company brought to Cyprus not only fresh new ideas in construction and Middle Eastern quality, but also new concrete technology (post-tensioned concrete). The first building built on the island using this technology was Elite 176.
The most advanced engineers and architects also work on projects to ensure that each building is a local landmark.
Who buys the Elite Island Properties complexes:
It is logical to guess that the first clients were Lebanese businessmen who decided to purchase luxury real estate in Cyprus. Knowing the quality of Fuad's projects, the Lebanese began to buy their first apartments.
However, clients from other countries soon appeared: residents of other countries of the European Union, South Africa, as well as Russian-speaking clients.
Finally, the Cypriots have recently begun to acquire real estate, which was a great gift for the company, as their name became known in the market within just a few years, and the local buyers already began to trust Elite Island Properties no less than their Cypriot developers.
What will the company build next?
Elite Island Properties plan to continue development activities in Mackenzie, as well as gradually move to real estate development in other areas of Larnaca. Now the focus will be on apartment buildings, but then plans also include the construction of offices and villas in the city.