Vice President of CTO to Open Cyprus Shared Ownership and Usage Symposium

Oct. 26, 2009 - PRLog -- 2009-10-26 12:08:43 - Shared Ownership concepts will be explored in a Summit to be held in Cyprus on 29 October, at the Hilton Hotel in Nicosia.
Tourism and Development companies can embrace structures to prosper in today's marketplace.Fractional Ownership is already a buzz word in many board rooms hoping to increase sales by the successful application of this new formula for Cyprus.

Vice President of Cyprus Tourism Organization, CTO, to open Shared Ownership Symposium in Nicosia

The First Fractional Ownership Symposium in Cyprus will be held on November 29th, in the Hilton Hotel in Nicosia and will be opened by Mr. George Mintis, Vice President of the CTO.

The summit will unveil the latest trends worldwide, many of which could be applied in Cyprus
by using existing laws in the Republic of Cyprus.

Developers and Hoteliers are invited to attend the event which promises to explore new horizons in creating new platforms for the Building and Tourist Sectors.

Organizers, World Class Group, led by CEO Michael J. Tolan, have over 25 years in shared ownership expertise in 15 country markets. Their PR communications unit has offices in Beirut, Dubai, and Malta.

Fractional Ownership is a relatively new concept in Cyprus, however major developers are now looking into this aspect of real estate offerings to pepper their income streams with additional revenue sources.

“Developers that responsibly embrace the holistic concept of providing investors with superb benefits, management and quality with a sensible value offer will excel in today’s market place” said Tolan.

Fractional Ownership is one form of the shared ownership matrix, we also have models whereby hotels in Cyprus could also benefit by using a hybrid business model, which is covered under the current law” he added.

Fractional Ownership models may be applied to up market residential developments that offer services to end users they would have come to expect from a five star hotel, therefore the marriage of hotels and developers is essential for a healthy growth cycle in Cyprus, said Tolan.

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