Release Date: Monday 14th July 2008

Investors have shrugged off concerns about the credit crunch to snap up 5-star properties in the new Palm Spa Resort in Cyprus.

Developed by Liverpool-based InvestinCyprus.com Developers, The Palm Spa Resort was launched at a party in The Gallery of The Hard Days Night Hotel in Liverpool to a packed house of local and international investors on Thursday 10th July 2008.

By the following day, 61% of the resort had been sold, representing €18.3 million in sales value.  Investors in The Palm Spa Resort came from the UK and Ireland but also from Cyprus, Australia, Singapore, United States, Bahrain and South Africa.

“If you provide the right product and the right finance package in a country not overly exposed to the credit crunch, then investors continue to buy,” commented Dominic Farrell, a director of InvestinCyprus.com Developers.  “With investor confidence being slowly eroded by inflation, UK property and the stock market, Cyprus continues to provide a solid, low-risk investment opportunity. The Palm Spa Resort offers superior 5-star property and demand is brisk because the supply of such property in Cyprus is extremely limited.”

The Palm Spa Resort is the second high-end project released by InvestinCyprus.com Developers.  The Grove Spa Resort, launched last year, saw a similar level of interest on release.  With on-site health spas, tennis courts, concierge services, restaurants and bars, these resorts are pioneering a new standard of development on the island.

“There is an under-supply of 5-star residential schemes in Cyprus offering the quality and breadth of facilities and services one would expect in a first class development.  The success of The Palm Spa Resort is due partly to its location near the golf course in Tersefanou, south Larnaca, but primarily due to its combined appeal as a lifestyle and solid investment to the discerning buyer” commented Farrell.

Notes for Editors

InvestinCyprus.com Developers is a Liverpool-based international property development company specialising in 5-star residential resorts in Cyprus (South).

The website for The Palm Spa Resort is at www.thepalmsparesort.com

The Palm Spa Resort was launched on Thursday 10th July 2008.  A valuation report by a member of the Royal Institution of Chartered Surveyors (RICS) values the project up to 10% higher than the prices we set for the launch.

Key Features:

• Launch prices up to 10% below RICS valuation
• Excellent finance terms
• 2.5 years build period
• Excellent location next to a new PGA-managed golf course (currently in development)
• Full Health Spa with hydrotherapy pools, treatment rooms and gymnasium
• Tennis Court
• Café/Bar
• 24hr Concierge and Reception
• 24hr Security
• Gated development
• Secure underground car park
• 2 large outdoor pools with Jacuzzis
• Full property management and rentals service
• No fee fully-assignable sales contracts
• Guaranteed freehold title deeds

For more details or interview requests with Dominic Farrell, contact:

InvestinCyprus.com Developers on:   +44 (0) 151 244 5444