Ceremony of Laying the Foundation Stone for the 'Symbol Residence' Attended by Mayor of Agios Tychonas Ioannou Charalambos and Billionairess Elena Baturina

LONDON, May 28, 2019 /PRNewswire/ -- May 24th 2019, the ceremony of laying the Foundation stone was held for 'Symbol', a high-end residential development in Agios Tychonas, Limassol, Cyprus. The project involves investment by the Investment Group of Elena Baturina, the richest woman of Russia, international entrepreneur and philanthropist. As was previously announced, the overall investment into the development will exceed €40 mln.

The ceremony celebrated the start of the active stage of construction, and was attended by Mayor of Agios Tychonas Ioannou Charalambos and Elena Baturina, as well as the project's executives, representatives of Cyprus Government, business community and other prominent members of the public.

The Mayor Ioannou Charalambos welcomed the guests, and pointed out that "Agios Tychonas and Limassol in general are areas of rapid development. Every year, new residential, commercial and public buildings are built; new elements change the city's infrastructure in order to host many cultural and business events... We always welcome new friends who are willing to support this development, bring something new and exciting to our city and country, such as the Symbol Residence. I hope that it will become another beautiful landmark in our city, one that its people will be proud of."

In her turn, Elena Baturina said, "Limassol is a wonderful city with lots of potential for all sorts of investment. We are happy that we can bring our visions to life here, starting with this beautiful architectural vision to soon become reality and bring even more distinction to Limassol's skyline."

The construction itself is carried out by Cyprus construction company the Cyfield Group, with the completion scheduled for 2021. The owner of Cyfield Kyriakos Chrysochos commented that Symbol is an outstanding architectural project developed by Spanish architect Ricardo Bofill and his studio 'Taller de Arquitectura'. "The building will be comprised of 23 residential units, a total of over 7 thousand square meters. It possesses unique inner and outer structure with spacious terraces on each floor, and layout flexibility. It is an exciting challenge that we are eager to take on," he explained.

The plot for the development with the area of 4.6 thousand square meters is located directly on the beachline in close proximity to the Limassol city centre. In the territory of the residence, there will be an underground parking, health, spa and fitness zones, recreational areas, a pool, a private garden and dedicated concierge and security services (details available at symbolresidence.com)

Elena Baturina is an entrepreneur and philanthropist. Having graduated from the Moscow Institute of Management, Baturina went into business and established her company Inteco, which swiftly became one of the country's leading construction firms. Under Baturina's direction, the company forged relationships with leading international architects. Today, Elena Baturina's Investment Group operates in the sphere of investments internationally, with the portfolio ranging from hospitality to renewable energy, membrane engineering, commercial and residential property, and covering the EU, the US, Kazakhstan and Russia.