Eliadou: Cyprus real estate enjoying an upward trend

Evangelia Eliadou, Executive Director Pafilia talks about some of the leading developer’s exciting projects among the over 250 developments in Cyprus and Greece making up its €3 billion property portfolio. She also shares her views both on the wider industry’s future and her own company’s vision for the coming years.

What was the vision and philosophy behind Minthis?

Minthis is a unique project with a strong vision and authentic philosophy, inspired by the surrounding nature. The resort is set among the ancient olive groves, fragrant orchards and undulating hills of the wine-producing region of Paphos. As part of a protected Natura 2000 site, on which just 3% of the resort’s five million square metres will be built, privacy and stunning views are guaranteed. The contemporary residences at Minthis are fully customizable and each design is nestled in a generously sized plot. The villas and suites all follow the same design philosophy, prioritising light, space and the landscape. The extraordinary location and original philosophy, combined with an award-winning property range and world-class facilities, where you can stay, dine, play golf or unwind in the newly opened spa, make the resort an incomparable destination for guests and home owners alike.

What differentiates ONE from the rest of Limassol’s towers?

ONE is not only the tallest building in Cyprus but the tallest residential seafront building in Europe. As the first high-rise tower in Cyprus, ONE is a pioneering example of graceful architecture and new technology. Today, ONE proudly hosts some of the most exclusive and highest value real estate in the eastern Mediterranean. This is not just thanks to the unique architecture and the innovative technologies used to create the building, but also because of the outstanding levels of customization inside each home and the services and facilities provided within the walls of ONE.

What are the industry trends that you expect to be dominating your field in the next decade?

Cutting-edge technologies and social media in real estate are already here and changing the way business is conducted. The COVID-19 pandemic accelerated the digitization of the real estate market, allowing purchasers to confidently buy a property without setting foot in it. This is partly thanks to technologies such as 3D tours and VR, which act as a portal for buying properties and allow us to present our products to people from all over the world. We believe that this will continue to evolve over the coming years. Pafilia’s pioneering spirit allows us to be early adopters of new technologies and this, combined with quality developments and our commitment to deliver outstanding client experiences, sets us apart from other real estate developers.

What can we expect from Pafilia in the future?

We are very optimistic about the future of the real estate market in general. The upward trend in 2022 is forecast to continue in 2023 and beyond and this demonstrates the robustness of the market. We believe that there will be enormous demand for ‘restorative’ or ‘optimised’ homes, with a focus on wellness and health, as people re-evaluate their life’s priorities. We will continue to create new communities with exceptional facilities and services that appeal to global citizens from all over the world. This year, we are launching two new large-scale projects in exclusive neighbourhoods of Limassol, and two lifestyle-orientated developments in Paphos. Minthis is continuously evolving year after year and, now that all the facilities are complete, we will be launching a new real estate product to further enhance the philosophy of incorporating nature into the homes and delivering a more grounded living experience. We are dedicated to focusing on our strengths and delivering timeless architecture and lasting communities that create beautiful homes and a legacy for future generations.

(This interview first appeared in the February 2023 issue of GOLD magazine. Click here to view it.)