Construction is Being Launched for the Cyprus Luxury Real Estate Project With Elena Baturina's Investment

LIMASSOL, Cyprus, May 16, 2019 /PRNewswire/ -- With all the permits in place, the investment structures of the international businesswoman, Elena Baturina announce the launch of construction for Symbol, a high-end residential development in Limassol, Cyprus. The construction itself will be carried out by Cyprus construction company the Cyfield Group, with the completion scheduled for 2021.

As was previously announced, the overall investment into the development will amount to €40 mln. The plot of 4.6 thousand square meters located directly on the beachline in close proximity to the Limassol city centre with easy access to all amenities and transport links, was acquired in November 2016.

"Symbol is a comprehensive contemporary development, designed round the concept of offering maximum benefits to its future residents. It has unique inner and outer architecture, a beach literally at the doorstep, unobstructed sea views, extensive list of services and highly developed infrastructure. We are sure it will become a landmark for the city," says Alexander Rezchikov, Managing Director.

Developed by the Spanish celebrity 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. The concept offers spacious terraces on each floor, layout flexibility permitting variations in the apartment's size and typology. In the territory of the development there will be such facilities as an underground parking, health, spa and fitness zones, recreational areas, a pool, a private garden and dedicated concierge and security services.

In the past, Elena Baturina gained extensive experience in management in development and construction. She headed her own construction company Inteco for two decades. Under her direction, the company became one of the leading construction firms in Russia, with a wide-ranging, award-winning portfolio that extended beyond the borders of the country.

Her commercial interests now encompass hotels in Ireland, the Czech Republic and Russia, renewable energy interests in Italy, Greece and Cyprus, a construction company in Germany specialising in the architectural membranes used on Wimbledon's Centre Court retractable roof amongst other high-profile venues, plus extensive commercial and residential property interests in the EU, the US, Kazakhstan and Russia.

The latest Forbes ranking lists Baturina as the richest Russian female billionaire with a fortune of USD1.2bln.