G. SPYROPOULOS DEVELOPERS LTD PROJECT: DROMOLAXIA FLATS Tzionas Building Prepared by George Spyropoulos Project Presentation

DROMOLAXIA FLATS Executive Summary: The proposed project sites in the core of Dromolaxia Municipality 2 km from Larnaca international airport. It consists of 8 one bedroom apartments and two 3bedroom apartments. Cyprus economy is back on a growth track and has been ranked as one of the fastest growing EU economies.. Dromolaxia municipality is experiencing an increase in households and an increase in employment opportunities. The rent income that can be produced from these apartments can be considered satisfactory. Since the company is operating in Dromolaxia since 2005 there is an extensive knowledge about the specific market in this area.

Building coefficient: 1.20 ~ 525m2 X 1.20= 630 m2 DROMOLAXIA FLATS  Project size Plot area : 525 m2 Coverage : max. 70% ~ 525 m2X 0.70 = 367.50 m2 Building coefficient: 1.20 ~ 525m2 X 1.20= 630 m2 8 one bedroom apartments of 50 m2 each. 2 three bedroom apartments of 95 m2 each Ground floor parking places: 12 parking places. One for each unit plus two for visitors . The parking area is covered or semi covered.

•Google map Photo of the area DROMOLAXIA FLATS •Google map Photo of the area

 Specifications( See also technical terms and conditions) DROMOLAXIA FLATS Project Design  Specifications( See also technical terms and conditions) The building will consist of 2 floors . Each floor will be 2.85 meters height. The parking places is accommodated in ground floor. The roof will be flat. The structure will be of reinforced concrete and thermo insulating bricks for the wall structures. The building will be of class A energy efficiency. Each apartment will be equipped with a photovoltaic system. Plastering and flooring will be of high class and durable life cycle. External windows and doors will be of thermal aluminium sections. Woodworks will be of pressurized laminate boards. The building will be equipped with a high quality elevator.

DROMOLAXIA FLATS  Parking availability Accessibility The project has 10 parking places and another 2 for visitors in ground floor. 2 parking places shall comply to the planning regulations for disabled persons , having dimensions of 3.30m by 5.00 m. Accessibility Accessibility to the building is provided through the Kazantzakis str. which connects to the E. Papaioannou street , the main street that leads to the center of the municipality and gives access to the nearby airport , the highway network to Larnaca town and the rest of Cyprus Larnaca airport is a 5 minutes drive from the project and the Meneou or Mackenzy beach is a 10 minutes drive. Larnaca town centre is a 15 minutes drive.

Market characteristics DROMOLAXIA FLATS Market characteristics Dromolaxia municipality is of about 7000 inhabitants. There are employment opportunities for agriculture workers, farm workers, housemaids , airport employees , car rental companies, in the near by industrial zone and opportunities in the municipality e.g. supermarkets, banks , small shops , builders, etc. All kind of Amenities are near the project. Schools , supermarkets, banks, bus station. Pascal English school direct access via the nearby highway just 10 minutes drive. Colleges and niversities are a maximum 15 minutes drive. Dromolaxia center will be soon renovated and modernized.

Market research and analysis DROMOLAXIA FLATS Market research and analysis Current market conditions The current market conditions are positive. The household income is starting to increase , money supply satisfactory, banks started granting mortgage loans and employment opportunities are increasing. Interest rates are low. After several years of stagnation the real estate market is returning to a growth path.

What are the employment trends in the market area? DROMOLAXIA FLATS What are the employment trends in the market area? The employment trends in this area are increasing due to the proximity to the airport and the adjacent industrial area. A research conducted by the company , with data received from Dromolaxia Municipality , shows that the number of companies being taxed by the Municipality is increasing over the years.

DROMOLAXIA FLATS The following chart demonstrates this development.

• What is the population growth rate in the market area? DROMOLAXIA FLATS • What is the population growth rate in the market area? From data received by the Municipality of Dromolaxia with the numbers of residential water meters for every year for Dromolaxia starting from 1998 until 2017 there is evident that the number of Households is continuously increasing every year thus providing evidence that the population increases every year. Interestingly the number of Households increased at a higher rate , during the years of the economic recession starting from 2008. It is anticipated that the population growth rate follows the households growth rate.

DROMOLAXIA FLATS

DROMOLAXIA FLATS PLOT TITLE DEED

DROMOLAXIA FLATS Land Registry's topographical plan