Cyprus

Mount Street Group has received regulatory approval from the Bank of Greece for a strategic partnership with Technical Olympic S.A. The Joint Venture, which is focused on Greece and Cyprus, has onboarded €33 million of real estate-backed non-performing loans (‘NPL’) in its first month of operation.

Invel announces that alongside NBG Pangaea REIC and another major institutional investor, it has acquired a majority stake in Aphrodite Hills Resort Limited and Aphrodite Springs Public Limited in Pafos for c. €50 million.

Radisson Hospitality AB to announce the introduction of the Radisson hotel brand to Southern Europe with the signing of the Radisson Larnaca Beach Resort on the island of Cyprus - due to open in Q3 2019. The hotel will be operated by Sunnyseeker Hotels.

Aisi Realty Public Limited proposes to change its name to “Secure Property Development & Investment Limited”. The change is subject to shareholder approval at the next Annual General Meeting although the Company will start operating under the new name with immediate effect.

Work on the infrastructure for the £50m (approx) ‘Riviera’ scheme in the suburbs of Nicosia, Cyprus, has begun on site. ESA - now part of Capita Symonds - was commissioned by Plaza Exclusive Projects in 2008 to develop the architectural masterplan for the 17 hectare mixed use scheme which comprises around 200 new modern homes...

The Immofinanz Group signed an agreement for the acquisition of the remaining 69.22% stake in Adama Holding Public Ltd. as of 16 June 2011. Immofinanz has held its investment in this South-East European residential property group since 2007 and will now become the sole shareholder. The purchase price for the stake totals 42.4...

Echo Investment Group has sold its Echo Shopping Centre built in 2000 in Belchatów. The new owner of the facility is a subsidiary of Vousoka Ltd with its registered office in Nicosia (Cyprus).