The present era—overtaken by the millennials and the GenZ and onset of the flex culture—has witnessed astonishing changes in buying preferences, technology adaptation, and luxury lifestyles – especially when it comes to buying a home.
The market for luxury properties has been on a steep upward growth since the last few years pertaining to the increasing demand by high net-worth individuals and foreign buyers looking for an investment.
Property development companies across the world are tapping in on this demand and leveraging the growth opportunity to put a mark on the map by delivering the best of their offerings. One prominent name among these companies is Korantina Homes, a premier property developing company located in Cyprus.
Korantina Homes was established in 1990 and over the last years has been focused on developing luxury and exclusive properties. The company is an unrivalled brand, the most dynamic, and fastest growing property developer in Cyprus and a leading name in the field of exclusive residential resorts.
Award winning resorts such as Cap St. Georges Beach Club Resort, Coral Residences in Peyia and Soho Resort in Paphos, visibly and physically differentiate the company from its competition by setting new standards in the real estate industry.
Exhibiting True Excellence
“Our projects are landmarks in terms of location, and are distinguished from the competition because of their uniqueness and the five-star services we provide to the residents,” says Mr. George Ioannou, the Director of Korantina Homes.
Each location is very carefully selected, focusing mainly on seafront locations. The projects are designed with the highest specifications and provide to the residents the highest quality of services and facilities.
The most vivid and evident example is Cap St. Georges resort, the flagship development of Korantina Homes, which is the largest and most exclusive seafront resort in Cyprus with a whopping 200 exclusive villas by the sea, including a clubhouse with restaurant and bar, spa, gym, 24hrs concierge services, 24hrs security, property management services, sporting facilities, serviced sandy beach, water sports, horse range within the project, children’s playground, cycling and more.
A five-star hotel is currently under construction in the resort which will enhance the facilities of the resort even further and add further value to the property investment. This internationally awarded resort has attracted exclusive clients from all over the globe including celebrities and international jet setters.
Korantina Homes has a wide portfolio of over 15 luxury residential projects as well as smaller projects in central parts of Paphos, which are not deprived of luxury like that of the company’s larger projects.
Additionally, SOHO is a unique residential resort and a landmark for Paphos, Cyprus, as it’s set to be the highest buildings in the city, in the most privileged seafront location. SOHO envelopes the idea of a seafront living, in the heart of the city, within a 5-star luxury resort. The resort comprises of both luxury apartments and luxury villas in beautifully landscaped area including all the facilities of a resort, spa, indoor and outdoor pool, gym, clubhouse with 24hrs concierge facilities, 24hrs security, restaurant, bar, and shops.
Korantina Homes is also very sensitive on the needs of the local community and safeguarding the environment. In this respect, the company avidly supports and sponsors various projects and philanthropic activities. Korantina Homes is a proud sponsor of the local football, volleyball and basketball teams as well as the exclusive sponsor of the new Paphos Innovation Institute.
Talking about the significance of implementing technology into the foundations of a business, Mr. George Ioannou says, “Technological developments are important in all industries and in real estate as well. Over the last years there have been amazing advancements in the smart homes systems but also in technologies concerning the building of the property itself.”
“I want to focus though on how important technology is nowadays, especially during the COVID-19 pandemic, which has enabled us in these difficult times to have a more direct way of communicating with the potential clients and managing of completing sales through the help of the various online technology platforms. We have created virtual tools for all our resorts and properties and the potential buyers get to have an experience as if they were here. Technological advancements are very important, and we will keep investing on this,” he adds.
Knowing the Unknown
We asked Mr. George Ioannou his opinion on the impact of the COVID-19 pandemic on the real estate development sector and the related market, and this is what he said:
“Unfortunately, the covid-19 pandemic was an unforeseen event which forced us all to experience difficult situations, not only in Europe but all over the world. It has negatively affected the local and world economies and the business operations in all sectors including the real estate development sector.”
“Most of our company’s clientele is from various countries all over the globe. The regulations imposed in their countries and the lack of frequent flights nowadays restricts them from travelling. Therefore, the property purchase procedure became extremely difficult to be completed without the physical presence of the purchaser in Cyprus. It will take some time, probably a few years, until the real estate sector, and the economy in general, returns back to the post-COVID-19 state.”
Imparting the Keys to Success
When asked about what advice he would give to the budding entrepreneurs aspiring to venture into real estate development industry, Mr. George Ioannou says, “We are glad when we see young entrepreneurs being active and entering different sectors, including the real estate sector. New beginnings could get rough especially in sectors which are very competitive, therefore it is very important to make sure you offer a fresh idea/product in the market. Once that is secured, then hard work and patience will lead to success.”
Towards New Horizons
Talking about Korantina Homes’ blueprint for the oncoming future Mr. George Ioannou asserts, “Korantina Homes has never compromised with the stereotypes that involve the sector. From the location of the land that we choose to build our projects, the luxurious high-quality finishes of the properties, the services we offer to the homeowners, the facilities that are included in our projects, our company sets the bar of luxurious and unique projects high.”
Mr. George Ioannou and his team affirm that this will continue to be their goal in the future as well. They are already preparing for launching a new large-scale residential resort in 2021 and are also looking forward for the opening of their newly constructed 5Star hotel which means an expansion of Korantina Homes in the tourist and hospitability industry as well.