Investment Project Century Tower, Larnaca, Cyprus

2 Concept of the project The Century – as MBT - envisages it represents one landmark building on Larnaca’s central avenue; Makarios Avenue, overlooking the entrance to the proposed new Marina and Port area. This nouveau design high-rise tower building is still at the very early design stage and is envisaged at comprising twenty-one floors on each of the two towers plus basements and roofs. Designed on building sites totalling an area of 3.329m 2, construction is expected to exceed m 2 (including common areas, verandas and E&M floors), plus five- level car park totalling 5.000m 2. A highly conceived project aimed at bringing Larnaca in the high- ranking places of top- rated speculative developments all over Cyprus and the Middle- East. The ultimate aim is to attract a new calibre of world- class home- owners, investors and tourists alike, thus upgrading the local product. Upon completion, The Century will provide: One tower of made to order shops and apartments through the advancement of specialised customer options aiming at making the enclosed extent adjust to the customer and not the other way round, which is most commonly the case. This will be the result of advanced research, design and marketing strategies that will take the real estate product of Cyprus to the next level. Ample common areas, a concierge, landscaping and nature features unprecedented to a city development, careful selection of durable materials and hidden car- parking facilities are only a handful of features and design statements evidenced in this unique project.

3 Project Location Located on the western side of Makariou Avenue about 850m north of the Central Police Station, 550m south the Port round- about and 150m west of the proposed new marina entrance. Larnaca itself is easily accessible both nationally through an excellent motorway network and internationally, through its own newly operated International Airport. The latter is only a few minutes’ drive from the project location. The site location offers advantages as it lies centrally with all amenities within walking distance. It is also located between the main avenue and a back road. The shape of the site provides relative difficulty but also a challenge in the design of the buildings.

4 Project Location

5 Project Characteristics The Century is envisaged as an exclusive high- rise tower project of an unprecedented standard of architectural design and quality of construction. The optimised design maximises the top achievable building density through exploiting public parking facilities, low coverage and transfer of density from listed buildings. The tower will include retail space on the ground floor including a mezzanine floor, residences on all upper floors including two mechanical floors. The project will have the following main characteristics: Dynamic and organic complex shapes with continuous balconies and views from different directions Streamlined shape for purposes of mitigating the effects of the wind and the heat. The streamlined shape makes it possible for the structure to absorb less tension The existent high summer temperatures and humidity evidenced in Larnaca calls for additional measures and other strategies to be implemented (other than natural ventilation) in order to achieve environmental comfort by minimising the environmental impact and the running costs The outer skin of the tower is designed with a precise objective of protecting the buildings from the climatic conditions without compromising them at the same time The geometric shapes allow all glazed elements to be shaded without obstructing the views. This self- shading effect stabilises in a clever manner the inside temperature of the buildings

6 Residential Tower The tower will expand over 22 floors; Ground Floor and Mezzanine, 2 E&M Floors and 18 residential floors. All residential units will be accessible by staircases and fast access lifts. They will have commanding views of the area including the new marina. Each floor may be partitioned in two or three parts thus creating whole apartment, two and three apartment floors according to demand. This flexibility will allow fast adaptation to changing market conditions. Added to this will be the flexibility offered by the turn- key design packages. This is a real advancement over conventional methods as it will have the residential unit adjust to the owner’s needs and not the other way round, plus it will improve the cash- flow of the developer.

7 Technical and economic features of the project Land plot area sq.m. Total construction area sq.m. Number of floors - 22 Commercial real estate area -850sq.m Total area of apartments sq.m. Parking area sq.m. Number of parking places – 179 In accordance with the current legislation it is possible to get permit for construction area increase by 20%.

8 Financial statements of the project Construction costs of apartments (euro per sq.m.)1700 Construction costs of commercial real estate (euro per sq.m.) 600 Construction costs of a parking 500 Construction costs of apartments euro Construction costs of commercial real estate euro Construction costs of parking euro Common construction costs (ex. VAT) euro Common construction costs (inc. Vat) euro Lot cost euro Property market cost euro Property sales return euro

9 INVESTMENT- REAL ESTATE DEVELOPMENT COMPANY “TITUL” CONTACTS: President of the company: Telman Abbasov Tel.: , Site: