On Tuesday, February 2, Marfields Group developer signed a historic agreement with the Marriot International hotel chain on Tuesday, February 2.
According to the agreement, The Ritz-Carlton Residences Limassol, the first skyscraper of an international brand on the island, will soon be erected in Limassol.
It is worth noting that The Ritz-Carlton is an international luxury hotel chain owned and operated by the Ritz-Carlton Hotel Company, a subsidiary of the world's largest hotel holding Marriott International. The network is headquartered in Maryland (USA).
The Ritz-Carlton Residences is recognized worldwide as one of the world's top three residential real estate brands and represents an example of luxury and sophistication in the most vibrant and interesting places in the world: from New York to Singapore, from Puerto Rico to Bangkok.
Now The Ritz-Carlton Residences intends to expand its global presence in Limassol, offering clients high-quality services and unparalleled comfort in the most cosmopolitan city of the island.
As it became known, within the framework of the new agreement, the Marfields Group, which has experience of participating in large residential, commercial and mixed-use projects, combined with many years of experience in managing the world famous Ritz-Carlton chain, will build a 33-storey tower in Limassol.
The luxury condominium will include not only hotel rooms, but also private apartments on the upper floors of the building with a stunning panorama overlooking the city and the sea. Owners and guests of the apartments will have access to all the amenities of The Ritz-Carlton Residences Limassol and, of course, legendary service from the global luxury chain.
"We are delighted that Marriott International has entrusted us with such a landmark development that marks the start of an exciting new era in Limassol, and in Cyprus as a whole, as our international construction and design team bring new standards to the luxury market," said Tal Mashkif, CEO of Marfields Group.
By the way, the project (which is now being developed by the Marfields Group) is already at an advanced stage. The coordination, supervision and construction of the project will be carried out by the Marfields Group, which includes a huge group of experienced real estate professionals. The Marfields Group team has extensive experience building 5-star hotels, luxury homes, shopping centers and hospitals around the world.
“We are excited to welcome Cyprus onto the global map of The Ritz-Carlton Residences.The dynamic city of Limassol, a hub of finance and commerce, has become a magnet for a growing global community who value a distinguished way of life, with a laid-back Mediterranean appeal. The arrival of The Residences will further elevate this way of life with a prime seafront location, must say that one of the main advantages of living in The Ritz-Carlton Residences is not only that their owners can take advantage of the benefits of living in a network famous for its traditions of hospitality, but also invest in the eternal values and the future of their family. Speaking about the investment attractiveness of residences, we can mention that real estate is a protective asset and an alternative to high-risk assets during economic crises. In addition, it is a very long-lived asset that can be inherited.," said Dana Jacobson, Senior Vice President for Co-Development at Marriott International.
We must admit, that one of the main advantages of living in The Ritz-Carlton Residences is not only that their owners can take benefit of living in a network famous for its traditions of hospitality, but also invest in the eternal values and the future of their family.
Speaking about the investment attractiveness of residences, we can mention that real estate is protective and an alternative to high-risk assets during economic crises. In addition, it is a very long-lived asset that can be inherited.