As property sales demand subsides, proactive property developers gather to understand the alternatives available to package shared ownership offers to smaller investors, embracing the Multi-Billion Dollar niche market of Fractional Ownership in Cyprus.

As property sales on the island of Cyprus stall, like thinking developers look to new avenues to generate new sales and income from alternative sources.

One of these solutions was discussed at the First Cyprus Property Developer Symposium on Shared Ownership in Nicosia at the Hilton Hotel.

The event featured a comprehensive presentation on how developers in Cyprus might utilize new systems in re-packaging properties to investors through collective ownership, co-ownership and fractional offers.

Put simply, this new niche market has blossomed into a multi-billion dollar industry worldwide as it allows an investor to own part of a property, to invest less, and maximize their own enjoyment and usage of a second home

Developers would typically allow up to 12 investors to purchase a 1/12th interest in a luxury second home, thereby allowing them usage of one month a year.

Today, this system in popular in the USA, Thailand, Dubai, Turkey, Greece and other markets where tourism has flourished and the appetite for a second home has provoked investors to obtain their own piece of the pie.

Typically the developer places the selected property into a company, and allows smaller investors to purchase shares in the company, giving them the right of usage for one month a year, and also securing their investment with an equity based asset that the company they invested in now owns.

“Although there are several formulas on the market today, we believe forward thinking developers will embrace this formula to move their sales forward, and at the same time, attract a new fresh caliber of savvy investors who would never use a second home in Cyprus more than one month per year.” said Michael J. Tolan, CEO of World Class Group.

Tolan reminded the audience that developers who do the exact same things they have been doing without changing their mindset or strategy are doomed to sink in quick sand.

George Mintis, Vice President of the CTO also announced that the Cyprus Tourism Organization was reviewing proactive solutions for Hotel Owners to also profit from other forms of Shared Ownership, and highlighted Condo Hotels as one area of potential focus.

The Registry Collection, the world premier lifestyle services company that provides flexibility and value to investors of Fractional Ownership owned by Wyndham Worldwide was featured to the attendees as a solutions company to assist developers to enter this new arena.

Mr. Vassilis Themelidis, Regional Director of Group RCI based in Athens, was on hand in Cyprus to meet property developers who he believes can and will capitalize on this sector of the market.

“We at Group RCI are committed to provide Cyprus developers with the experience and support of our organization we have earned over the past 30 years worldwide “ he said.

“There are sunny days ahead for Property developers in Cyprus who embrace this concept now and who make a commitment to exceed client expectations by delivering superb products and services” he added.

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.

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.