Cyprus Property News
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Triple Five of Canada looking to buy commercial property in Nicosia

The Triple Five organization from Canada through the contacts of its president Mr Ghermezian with the former Minister of Finance Mr  Kazamias  and the President Mr Christofias has being going forward and already the company expressed interests in participating in a share scheme of Cyprus Airways, amid a restructuring of the carrier. This interest is also confirmed by the company itself through a statement by the President, George Mavrokostas and through an announcement in the Cyprus Stock Exchange. The future will show, however, the developments this case.

At the same time, Triple Five participates in a joint venture to secure a plot in the Cyprus EEZ new gas drilling round, which was also announced during the recent trip of Mr Ghermezian to Cyprus.

With these in mind and also having seen the movements of Triple Five regarding the tourism industry, it is safe to conclude that the group will be in need of commercial space to house its activities in the island.

The group through the regional director Mr George Constantinou, has concluded a series of meetings with regards to purchasing a readymade building in the capital. The Triple Five Group, seeks to purchase an entire building rather than renting office space in different regions. They are actually looking into buildings worth over 10 million euros.