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St Chara Developers Ltd

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Mykonos and Santorini Off Plan Investment in Luxurious 4/5 bedroom Villas in Larnaca, Cyprus

This investment project is situated in Larnaca, contains 8 specious, luxurious, detached 4 & 5 bedrooms houses, is just 300 meters from the sandy beach in the centre of the tourist area with 5-stars hotels, restaurants, taverns, pubs. No competition in Larnaca for these luxurious houses. Completion date: 18 months from date of sale.

Nicosia, Cyprus, June 08, 2007 --( St Chara Developers Limited announces the launch of its latest off “plan investment opportunity, “The Mykonos and Santorini Project”.

This investment project is situated in the Dhekelia Road area in Larnaca, one of the most modern seaside towns in Cyprus. The project contains 8 specious, luxurious, detaches houses situated just 300 meters from the nearest sandy beach in the centre of the tourist area with 5 stars hotels, restaurants, taverns and pubs. Just 20 minutes driving from the airport and from golf courses under construction. Seven minutes driving from the prominent beautiful Larnaca Boulevard.

Each of these luxurious and spacious houses will have 2 floors, double glazed windows, A/C units, central heating, private swimming pool, different trees, flowers and irrigation system on a plot of 531 to 795 square meters and a total covered area of 222 to 259 square meters. These houses have been thoughtfully and carefully designed to give the buyer the best in luxury and comfort:
a) 4/5 luxurious bedrooms
b) En-suite shower in master bedroom
c) Huge sitting rooms
d) Separate kitchen and dining room
e) Large covered and uncovered veranda.

The Location:

These houses are situated in the fastest wealth generating area in the Larnaca District in Cyprus, a member state of the European Union. Larnaca is the main port of entrance of airline passengers and expects the CYP 200 million refurbishment of its airport to be completed next year. Larnaca has a well balanced mixture of business and leisure and is on its way to be the new European golf destination with 11 new golf courses planned.

Low risk and high reward:

The risk is low and the reward high, because:
1) Cyprus is member of the European Union.
2) Freehold ownership is guaranteed
3) Very low crime level in Cyprus.
4) The legal system in Cyprus is based on the well known English law.

The rewards are high because:
- Cyprus has a stable economy with a stable economic growth
- Inflation is contained
- The Euro is expected to replace the Cyprus pound as of 1 January 2008
- Taxation in Cyprus is very low
- No V.A.T.on these houses
- The real estate sector in Cyprus is showing buoyant performance and property prices continue to increase year on year

For information about the economic development in Cyprus go to Chapter 12 of the “Economic Forecast Spring 2007” of the European Union.

About the developer:

St. Chara Developers Ltd is a company operating in the Real-Estate Developing Industry in Cyprus. Its main business is to develop, design, construct and offer for sale high (ISO 9001 certified) quality residential and commercial real-estate. The company was incorporated and registered in Cyprus on the 10th of October 1986 by Mr. Ioannis Stephanou, a well known and respected entrepreneur and economist.

Costs and profit margin:

These unique villas are offered now off-plan at the special price of CYP 370,000.00, CYP 385,000.00 and CYP 400,000.00. No V.A.T. to be paid. The few remaining plots of land available in this location are sold for not less than CYP 200,000.00 per plot and the cost of building these type of villas is more than CYP 150,000.00 per villa. Our profit margin ranges from 10 to 14% of the costs involved. Potential growth in value after 5 years is 61%.

Contact Information
St Chara Developers Ltd
Drs. Wilgo Boerleider

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