'Our aim is always to have variety in our projects and to appeal to a wide purchasing power'
You have completed 46 years of continuous presence in the Cypriot market. How would you evaluate Pafilia's progress to date?
Pafilia started as a small family business and quickly developed into one of the largest land development companies in Cyprus. We employ more than 450 people, we are present in over 50 countries, either with offices or with agents, we have delivered 250 modern and innovative developments to date in Paphos, Limassol and Greece, and the value of our projects amounts to €3 billion. The culmination of all these efforts for me is that we have put Cyprus on the map of the best destinations worldwide, with the 60 international awards we have won over the years and of course with our flagship projects: the EMU, the tallest residential coastal tower in the Mediterranean and Minthis, a luxury holistic resort. The course of Pafilia was and is full of creativity, pioneering developments but also many challenges. A course that today gives us recognition and strength to continue.
Where is your investment plan based and what are the projects included in the company's portfolio?
Our investment plan from the beginning was focused on the foreign market, because our Cyprus is small and the economy is affected by external factors. To date we have 40 different customer nationalities and 800 partners worldwide. So we closely follow the trends of the global market and launch innovative projects, either for permanent relocation or for investment or for existing migration plans.
Our goal is always to have variety in our projects and to appeal to a broad purchasing power, always to the concept of vanguardism and luxury that characterizes us. So in addition to EMU and Minthis, we have on the market amazing projects that respond to the demand of the time such as Pafilia Plaza in Paphos, luxury apartments in a central area near the new universities of our city, Konia Green an innovative development with London vibes in sophisticated area, in Limassol we launched Enscape in Agios Tychonas, a small collection of luxury houses and villas built uphill with sea views. We also have a large collection of villas in Paphos and Limassol in cosmopolitan locations as well as apartments in Athens in a fantastic area with amazing design.
How 2023 has evolved in the real estate sector and which one is yours account?
2023 surprisingly, was a very good year for real estate sales for Pafilia despite the general geopolitical turmoil. More demand was presented by Minthis, which today with all the infrastructure completed, is the perfect relocation destination for those customers who are looking for a holistic, comfortable and luxurious lifestyle that Minthis offers.
How is the (global) shortage of skilled personnel in the construction industry being dealt with?
The lack of skilled personnel in the construction industry is certainly a big challenge, which affects competitiveness and raises the cost of real estate. We, understanding the importance of human resources in the competitiveness of our company, have taken a series of measures to deal with this problem. We have invested on many levels in the continuous training of our staff, offering continuous opportunities for training and specialization in the matters of the construction industry. This culture we have developed attracts new staff and by offering competitive terms of employment we manage to overcome the given shortage that exists.
What effect do new technologies have on construction projects? Can they steer the construction industry towards an environmentally friendly policy with a low carbon footprint?
The use of new technologies in the construction industry has helped substantially in the efficient execution of building projects and in the reduction of operating costs. The simultaneous use of environmentally friendly materials and related technologies results in the completion of projects with a small carbon footprint. This acts as an additional positive criterion for the promotion of our construction product, especially to our clientele originating from Europe.
Sustainability is the catalyst that will shape the market and the construction sector. What is your strategy for sustainable and sustainable development?
Our strategy includes various actions at many levels that revolve around the goal of sustainable and sustainable development. Our company has special requirements in the design of projects with absolute respect for the environment. It is our culture that our company's projects are always integrated with absolute respect and with the least possible burden on the natural environment. The use of natural building materials is always in our design priorities, as seen in our award-winning project Minthis.
What are Pafilia's big bets and challenges for 2024?
Pafilia's biggest bet for 2024 is the completion of NEO, our next mega project consisting of a residential tower, an office tower and a mixed-use tower. With a futuristic design, a wide range of luxurious amenities in the best seaside location of the Limassol Riviera. A project that was redesigned with a more sustainable product in mind for the new realities in the market and is for us a bet that we have set our bow to win in 2024.
In closing, however, I want to leave a happy and optimistic message. Pafilia is always ready to face the challenges of which we have had many in the last 15 years and try every day to put its own little stone for the global recognition of Cyprus.
Tel: +357 26848800
Ms. Evangelia Iliadou is the executive director of Pafilia.
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