Universal Gardens

Universal Gardens
Universal Gardens
Universal Gardens
Universal Gardens
Universal Gardens
Universal Gardens
Universal Gardens
Universal Gardens

We bring to your attention to consider an investment project, a block of apartments – Universal Gardens.

The plot size is 2692 m² and building ratio is 80%, we plan to build 26 apartments, all with two bedrooms. The apartments will be in two independent buildings and due to the size of the lot, we will have room to create additional amenities for the project. The amenities for this project are very important as they will add value to the properties.
The plots will be able to build 2261 m² after we also use an additional construction factor of 5% from renewable energy sources for the photovoltaic system. The complex will consist of 2 blocks, with a pilot plus 3 floors of apartments in each, for a total of 26 apartments with two bedrooms. Development facilities will include a reception area, an indoor gym, a work area with a conference room, an outdoor gym, an outdoor yoga area, outdoor activities with a barbecue area, a store for each facility, a children’s playground, and a semi-Olympic swimming pool with swimming area and 2 lap lanes.

The apartments can be sold as they are now, off-plan, for an average price of €400,000 plus VAT, unfurnished. The prices are normal according to the market, as we must consider that there are not many projects available in this area.

The total catalog price for 12 apartments is 4,220,000 euros and the furniture package for all properties is 12 * 25,000 euros = 300,000 euros. The total cost of 12 fully completed two-bedroom apartments is 4,620,000 euros.
Now the offer from the developer at a discount is 4,220,000 euros.


1. Way of investment: a new company in which you will own 100% of the shares will be the developer of this project. The company will be an LLC, it will be easy to register and its maximum value will be 2500 euros. The company will buy part of the land. We will be responsible for the design, licensing and all procedures necessary for the project, but all licenses and final title deeds for each unit will remain with the company.

2. Contractor Payment Scheme: The first step is to purchase the land and transfer it to your company name. The price of the land will be 800,000 euros plus 19% VAT. VAT is refundable if you are a developer. The final cost here is 800,000 euros and the construction cost will be 3,520,000 euros EXCLUDING VAT. The investor company will sign a construction contract with a construction company and will pay a security deposit of 200,000 euros for the construction. Construction payments will be in stages and the usual payment structure is:
A. 30% – €200,000 at the beginning of the project
b. 15% completion of frame work.
V. 15% completion of plastering works.
e. 15% completion of floors.
e. 15% aluminum package.
f. Shipping 10%.

3. Timing: The purchase of land can be in two stages. The initial payment immediately upon signing the contract, and the rest within 30 days. Completion of this project will be 18 months from the start of construction work.

4. Construction VAT: the developer (investor company) does not pay VAT to the construction company. This is because, in fact, from the point of view of the law, the client will be considered as a developer, according to article 11B of the tax legislation of Cyprus, the developer (Investor) has the right to sign a contract with a construction company for a net amount of money without paying VAT on construction. This is why the investor will not pay VAT on the construction contract, but will charge VAT on the sale of the property to new buyers. This is called VAT reverse charge because VAT is paid by the end user.

We will provide all detailed financial calculations for the project from the developer company.

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