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Crystal Lagoon - Pernera, Cyprus

Updates:

April 2007:

Nearby, the town centre is being paved and there is a major investment into new infrastructure following the election of a new Mayor. The Fishing Haven now has a delightful cafe and the bars and restaurants have improved with several refurbishments and new additions.

The supermarket opposite the Crystal Lagoon gates has been enlarged and modernised and now sells virtually everything from sun tan lotion to fresh bagels.

Overall, we believe Pernera is responding to the shift in clientele from package holiday to independent traveller and we expect to see continued value being added in the next several years.

Panorama of progress	Villas 16-21	Villas 22-27
Refurbished and extended supermarket	Villas 35-38	Pernera Fishing Haven earmarked for a marina (250m from plot)

Original pictures:

Artists impression - street level	Artists impression - helicopter view	Crystal Lagoon locator map
Fisheye view of plot (from top of hotel)	Overlay of plan on east edge of plot	Pernera Fishing Haven earmarked for a marina (250m from plot)
Plot plan	Ground floor plan	Upper floor plan
Golden Coast beach - 150m from the gates	Golden Coast beach - watersports	Pernera beach - 50m from Crystal Lagoon plot

This opportunity bypassed the web site launch due to the interest it generated in our pre-release information. It sold out in just a few weeks to the pre-reservation list.

Location: Right in the heart of Pernera and close to multiple gold sand beaches.

Features such as Italian designer kitchens, plasma screens, heated pools and high end British interior design have been bundled with electic gates at the head of the development. These villas are desirable and exclusive and will especially appeal to young families due to its proximity to the leisure facilites of Protaras. We believe it will be the first choice for independent holiday makers.

Growth drivers include:

• New Larnaca Airport: Opening in 2009, which will bring in up to 12m tourists PA. We see this driving a huge change in the Cyprus holiday market as pre-booked holiday packages are replaced with independent travelers who will want top quality rentals - driven by the budget airlines such as Ryanair who plan to add Larnaca to their routes.
• Golf Courses: There are two planned golf courses nearby which will extend the rental season and increase the regions profile.
  
• Lack of prime building plots: Cyprus is an island with a limited number of prime building plots available for development. Local developers estimate that development land will all be used within 5 years.
• Euro-zone finance: In 2008, Southern Cyprus join the Euro. This will open the door to a much wider audience.

Crystal Lagoon is ideally situated in the family resort of Pernera and plots such as this, walking distance to the beaches and bars, are increasingly attracting a premium..

Crystal Lagoon villas are across the road from a rival development where a comparable 3 bed villa (Klio 26) is being sold at a 70% premium. And just as with the UK, prices are based on comparables - as this development sells, the price rises for Crystal Lagoon are assured.