Pernera Development Land

A rare opportunity to invest on a licensed piece of land to develop a 4* Hotel with 5* standards in a highly popular coastal area that attracts several investments!

Located in the center of the tourist resort of Pernera area, the land totals at 8,658 m², just a few minutes’ walk to the sandy beaches, numerous amenities, the new promenade for amazing walks to the bustling resort of Protaras, the Protaras brand new Marina and so much more! 

The plot is within Τ1στ1 zone (71% ) and Τ1ε3 zone (29%) and allows the following options:

Development of a hotel - Building Density at 50% with 25% Coverage, 3 floors allowed up to 13.5 meters.

Development of touristic resort, villas, apartments - Building Density at 40% with 25% Coverage, 2 floors allowed up to 10 meters.

Development of residential villas - Building Density at 30% with 25% Coverage, 2 floors allowed up to 10 meters.

The investment’s central theme proposes a unique creation of a romantic boutique hotel designed by well recognized professionals in architecture, tourism consulting and interior designing.

The new hotel unit will stand out for its exclusive and high level aesthetics, its distinctive character and will provide high quality personalized services so that guests live an authentic, unique and diversified experience of stay.

According to the existing plans, with 98 rooms of which 10 are swim up suites, along with Reception, Lobby & Bar, Luggage Room, Management Offices, Fine Dining pool side restaurant, Casual restaurant, Pool Bar, large outdoor swimming pool, Wedding gazebo for small ceremonies, Wellness treatment areas including 10 Spa rooms and more. A very unique design features all rooms surrounding the swimming pool, and most of them having direct access to it. 

The Vendors are willing to actively participate in the management, bringing extensive expertise in international tourism and management. With over 20 years of experience in the tourism industry and other private businesses, they are highly qualified to contribute meaningfully.

A full market valuation from a highly reliable R. I. C. S firm as well as financial projections and architectural drawings are available.

The plot currently includes 23 renovated apartments and four retail units, generating an annual income of €150,000. With the recent renovation of the retail units, the income has the potential to increase by an additional €20,000. This presents a prime opportunity for investors to enhance the property by adding amenities such as a swimming pool and entertainment areas, while preparing to further develop the remaining land. Potential future developments could include a larger hotel or high-end luxury villas, promising excellent returns on investment.

Due to its prime location and continuous rising of investors in Cyprus, the purchaser also has the option to build seaside properties to sell or rent. Luxury Holiday villa rentals are on very high demand in this specific area.