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QIS Ltd Newsletter 4January 2009 Welcome to the fourth issue of our QIS newsletter. This month read about who's flying to Cyprus and what's planned for the future in Larnaca and the latest on what's happening in Abu Dhabi, the UK Property market and Q Well Being... Cyprus & Larnaca NewsGreat news for investorsThere are two major pieces of news that will be interesting to those of you who have or are considering investing in the Larnaca region of Cyprus.
Scheduled to be the largest ever single investment made on the island, creating around 3,000 jobs,the project is likely to be built on leased state land near the UN buffer zone between Turkish and Cypriot lines around the Larnaca - Famagusta boder. The investors were reportedly looking at Serbia to locate the project, but changed their mind after a Cypriot delegation highlighted Cyprus' political stability, EU membership and year round sunny weather. Christodoulos Papadopoulos, director of Boema in Cyprus, believes that his company has struck a deal with Russian tour operators, which plan to deliver an extra 500,000 holidaymakers from Eastern Europe alone. Alongside this, analysts believe the government is likely to speed up the approval process to complete the 'Disneyland of the Mediterranean' project ahead of Cyprus' six-month European presidency in 2012. Good news for those of you who have bought or are about to buy in Larnaca! An Island on the Up!For the third year running 'A Place in the Sun' has carried out a survey to find out where it is that people are looking to buy an overseas property. Of over 1,000 responses Cyprus falls into the top 20 again and has risen 2 places since last year to being the 4th most popular destination. Unsurprisingly the top of the list was dominated by Mediterrean countries. One of the things that makes Cyprus popular as a classic second-home and retirement destination is it's proximity to friends and family in the UK. UAE Property NewsAdu Dhabi to establish regulatory authority to oversee real estate sector
UK Property News
Q Well BeingQ Well Being - progressing well
The design team (which includes David Bonnet - the Consultant responsible for accessibility at the 2012 Olympics www.davidbonnett.co.uk ) spent last week reviewing in detail the plans that have been developed for the site and the individual apartments. The project team also spent time visiting accessible gyms, spas and swimming pools around the UK. We are also in discussions with a famous Paralympian who has heard about the project and is keen to help with the design of the project and especially the Gym and the Spa. Once the plans have been finalised and final planning permission granted at the end of April 2009 QIS will then be out talking to interested parties about this exceptionally exciting project. Thanks for taking the time to look through this month's newsletter. We hope you have found it both informative and useful. We always welcome any feedback you may have for us. The QIS Team |
Easyjet: From 31st March 2009 Easyjet will be flying from to Larnaca from Luton. Single flights look like they start from £41.
Emirates:Dubai based Emirates Airline started daily flights to Cyprus on December 1 2008. Emirates has been flying to Cyprus since 1994 and currently offers a five-times a week service from Dubai. According to Nabil Sultan, Emirates' Senior Vice President, Commercial Operations, Europe, " After 14 years of services, we are extending our commitment to the island and significantly improving connections to and from Dubai and beyond, opening up more possibilities for travellers, trade and Emirates SkyCargo freight throughout the broadening Emirates' network."
The second is that A Russian conglomerate called the Boema Group is applying for planning permission to build a €800million Disneyland holiday resort according to OPP magazine.
Abu Dhabi has announced that it will form regulatory authority that will oversee the growing Real Estate sector in the emirate following on from the success of the equivalent authority in Dubai.
As you know Abu Dhabi is a market that we follow closely and indeed feel offers much opportunity in the medium to long term. We feel that the establishment of an appropriate regulatory authority is an important step in the evolution of the property market by improving transparency and trust in the property market. We believe it will provide an integrated framework for rentals and sales that will provide comfort to investors and developers alike.
The UK new build property market continues to hold our attention. As many of you will know we have spent a large amount of time over the last couple of months researching the market and identifying opportunities that we feel offer real prospects for a decent yield (>7%) and above average capital growth in the short abu dhabi 2to medium term. We have been negotiating with a number of developers, and got close to agreeing deals on a couple of occasions, however we do not feel that the opportunities represented a good enough investment for you, our clients! Our model is aimed at delivering real value to you as investors. We continue to engage in discussions with developers and hope to offer these opportunities to you soon.
