Real estate entrepreneur Sagi Doron: EliteEdge's three developments in Larnaca and the Cyprus investment landscape

“Setting up and running my business in Cyprus has been both exciting and rewarding,” Sagi Doron Managing Partner at Larnaca-based real property development and management company EliteEdge Ltd. says.

In an interview with CBN, Doron also shares his thoughts on how the island can become more attractive to overseas investment while also talking about his company’s current activities and future plans.

In addition, the Managing Partner conveys his thoughts on, among other things, the current state of the real estate sector in Cyprus and its future prospects, noting, “I see the Cyprus real estate sector as strong and full of promise.”

Sagi Doron

How did Cyprus first come to your attention as a potential investment destination?

I discovered Cyprus as an investment destination almost 20 years ago when I lived on the island for two years. Cyprus’s unique location-right where Europe, Asia, and Africa meet-and its EU membership have helped create a stable economy and a modern business environment.

In addition, the island is famous for its booming tourism, thanks to a beautiful Mediterranean climate with over 300 days of sunshine each year. This attracts millions of visitors and makes Cyprus appealing to both residents and business owners.

Furthermore, the real estate market here shows great promise. According to the latest data from the Cyprus Statistical Service, property prices have risen by about 5% yearly, while demand has grown steadily by nearly 7% in recent years. This strong performance highlights the market’s long-term potential for investors.

This unique mix of strategic location, thriving tourism, and solid real estate growth-as highlighted on eliteedge.com.cy-convinced me that Cyprus is the perfect place to launch innovative ventures.

How has your experience of setting up and operating a business been so far?

Setting up and running my business in Cyprus has been both exciting and rewarding. The process is supported by an active local infrastructure and a community that is always ready to help, which has been extremely valuable despite a few bureaucratic challenges. Although local banks sometimes work at a slower pace compared to international ones, their dedication has ensured smooth financial operations.

Recent observations note that traditional administrative procedures here can sometimes slow progress. However, it’s encouraging to see ongoing reforms that are modernizing these systems and aligning them more closely with global standards.

What are some of the things Cyprus can do to become more attractive to investment from overseas and international entrepreneurs?

Cyprus already offers many advantages, but there are still opportunities to improve its appeal for overseas investors and international entrepreneurs. For example, further simplifying bureaucratic procedures and offering more customized incentives for foreign investors could make the process even easier.

Investing in modern infrastructure-especially in digital services and renewable energy-would also attract tech-focused entrepreneurs and those interested in sustainability. Additionally, building more networking platforms and fostering international partnerships can help establish Cyprus as a global hub for business innovation.

What is your view of the Cyprus real estate sector and how do you view its prospects in the coming years?

I see the Cyprus real estate sector as strong and full of promise. With a mix of luxury living, strong tourism appeal, and strategic commercial opportunities, the market is set for steady growth. We are already witnessing a rising demand for developments that combine residential, commercial, and recreational spaces. I am confident that in the coming years, as Cyprus continues to invest in infrastructure and innovation, the real estate sector will provide even greater opportunities for both local and international investors.

Can you tell us a bit about your current projects in Cyprus? And your future business plans?

At EliteEdge Ltd, we are currently developing three unique projects in Cyprus:

• Porta Del Sol: A holiday residential complex in Pyla, Larnaca, featuring a large shared swimming pool, private jacuzzis, and solar panels for each apartment. It is located just 2 km from the seafront.
• Canal Del Sol: A special holiday complex in Pyla, situated right next to Porta Del Sol. It is renowned for its one-of-a-kind pool canal and extensive facilities, promising an unforgettable stay.
• Sotiros Del Sol: Situated in the lively Sotiros area of Larnaca, this development offers luxurious apartments with convenient access to top schools and urban amenities.

Looking ahead, we plan to expand our portfolio with additional projects in the Larnaca area, all set in prime locations and designed with careful, modern aesthetics.

What are some of the reasons you chose to focus on the Larnaca/Pyla area?

Larnaca, especially the Pyla area, has become one of Cyprus’ fastest-growing regions, attracting significant investment and rapid development. Pyla’s diverse international community makes it highly appealing to foreign investors and expatriates. The city has also benefited from major infrastructure improvements, including a planned state-of-the-art port that enhances tourism, business opportunities, and overall appeal.

Additionally, Larnaca’s proximity to Cyprus’ main airport ensures seamless travel connections, further boosting its attractiveness. Pyla-just 20 minutes from Agya Napa-offers easy access to top beaches and entertainment. With rapid growth, a strategic coastal location, and rising demand for quality real estate, Larnaca and Pyla present an ideal investment opportunity, promising strong returns and a dynamic, cosmopolitan lifestyle.

Is there anything else you would like to add?

Cyprus is uniquely positioned where Europe meets the Middle East, offering a rich mix of cultures, business opportunities, and a high quality of life. Its strategic location-especially its proximity to Israel-makes it an ideal hub for international investors and professionals.

With a rapidly growing expatriate community, Larnaca has become a key area for development, driven by rising foreign interest and a strong tourism sector. When you combine this with the island’s Mediterranean charm, welcoming climate, and stable economy, it becomes clear why so many people choose to invest in and settle here. We are proud to contribute to this growth through our innovative, high-quality developments.