Construction of MEDITERRA Started!
Kıbrıs Developments, with 38 years of experience, has been shaping the real estate sector, creating award-winning brand projects, and adding value to the Alsancak region. We are thrilled to share the joy and pride of an important day with you for our new project, MEDITERRA, where we blend the Mediterranean lifestyle with sustainable living.
Led by our Director Çağatay Özbirim, the entire Kıbrıs Developments team has laid the foundations for the MEDITERRA project by going into the field. We are set to complete the turnkey delivery of MEDITERRA in November 2025, and just like in other Kıbrıs Developments projects, we will simultaneously hand over the title deeds to the homeowners upon the key handover.
Life at MEDITERRA, inspired by the Mediterranean village concept, developed in the Girne, Alsancak region, carries both the architectural and social heritage of Cyprus and is shaped around two main axes. We will build a "modern village life" with a production axis where homeowners can grow their organic vegetables and a social axis where daily sustainability practices can be implemented in courtyards and all common social areas.
In line with our company's sustainability principles, including preserving the natural environment of Cyprus, our MEDITERRA project, designed with special infrastructure, aims to minimize natural resource usage and protect unique local biodiversity. We are excited about creating a settlement that is not just a consumer but a producer, challenging time rather than aging.
One of MEDITERRA's distinctive features is its energy efficiency scope. With sustainable material selection and limited resource usage, we aim for a 37.56% efficiency in energy, 42.43% efficiency in water, and 46.21% efficiency in materials under the EDGE certification program.
Çağatay Özbirim, the director of Kıbrıs Developments, said the following regarding the groundbreaking of the MEDITERRA project:
"As Kıbrıs Developments, we actually started our MEDITERRA project long ago. First, we built our road, added the lighting, and then constructed our bridge to facilitate access. As in every project, we first invested in the region with our identity as a destination developer in MEDITERRA. Approximately 800 blue and lemon cypresses were planted in the front of the project, creating a green area for the sake of nature. We completed all the necessary infrastructure for the project, including the sewage treatment plant, all expenses, water and power lines, in accordance with the project's requirements. Therefore , today we have laid the foundation of the superstructure of MEDITERRA. We are creating foundations that will not cause any issues for 100 years, with a margin of error of not even a centimeter, thanks to GPRS assistance. In our region of Alsancak, where we live and invest, only 35% of the land can be used for construction, and the remaining 65% is legally left for greenery. In this regard, we prioritise respect for our region and the value we place on nature by planting long-lasting trees in our projects. We have a stock of 1000 trees to be planted inside MEDITERRA. Our MEDITERRA project, which we refer to as a closed system encompassing a sustainable structure within itself, will be one of our signature projects in this regard. As the Kıbrıs Developments family, our hearts are currently beating in MEDITERRA."
Emphasizing that the projects produced by Kıbrıs Developments become the brand projects of Cyprus and the region, Özbirim highlighted the significant short-term gains for investors, stating: "Customers who invest in the MEDITERRA project during the launch, following our pricing policy observed with key delivery, gain a significant advantage due to a total price increase of 40% from the list prices. Due to the premium status of the region, rental incomes and return on investment (amortization period) occur much faster compared to other areas. For instance, based on information obtained from international platforms such as Airbnb and booking.com, if we calculate the short-term return on a 2+1 residence, it is 9.8 years when compared to locations within the island. Since the region covers all social activities within itself, the annual occupancy rate is much higher than other locations. Under our incomplete housing loan campaign, investors can use a housing loan with a term of 120 months. When entering a long-term period, the monthly installment amounts being in Turkish Lira and the rental income from the property being in foreign currency will undoubtedly yield significant gains in today's economic climate."
Great award to Kıbrıs Developments from Turkey
At the "Sign of the City Awards 2023," known as Turkey's "Real Estate Oscars," Kıbrıs Developments won the major award in the "Best Architectural Design" category with its Central Office Building.
Aiming to bring the construction and real estate sector in Turkey to an international platform, the Sign of the City Awards were held for the 7th time this year. The ceremony, which was organized with the contributions of Emlak Konut in partnership with Kelebek Mutfak-Banyo project partnership and EY strategic partnership, brought together leading brands, institutions and NGO members of the sector and academicians.
The winners of the "Sign of the City Awards (SotCA) 2023" were announced at the award ceremony held on the evening of December 18, 2023, at the Hilton Istanbul Bomonti Hotel. In the highly competitive "Sign of the City" awards where hundreds of projects apply each year, Kıbrıs Developments award-winning brand was recognized in the Kent and Architecture Categories for "Best Architectural Design" in the completed private sector projects, specifically for the Central Office Building in Alsancak. Additionally, by reaching the finals in the category of "Greenest Building/Building Community,"Kıbrıs Developments also earned the title of Sign of the City Premium Project.
With an environmentally friendly and sustainable vision, Kıbrıs Developments proudly experienced the joy of winning a major award once again at Turkey's real estate "Oscars" this year.