Empire Capital Investment Public Ltd was founded by a team of internationally established entrepreneurs in 1999, and has been in Business ever since. Seem that after the company listed in the Cyprus Stock Exchange (CSE) and was successfully trading as an equity investment vehicle.
Through this strategic deal the company achieved one of its milestone acquisitions, bringing under its ownership 172.000 square meters of residential and commercial land, in Lakatamia, Nicosia values at the time well over €60.000.000. During those days the company’s executive management achieved an increase of its authorized capital from 20.000.000 shares of €0.43 each to 80.000.000 shares sky rocketing the company’s value and all its shareholders revenues.
Since 2009 and for over 12 years, The Group that Empire is part of has extensive experience in Real Estate trading and development for over 25 years now and is currently owns over 1.000.000 Sq.m. By 2011 the Company managed to design and secure initial planning permit for a very ambitious project in the landmark land of 172,000 Sq.m. called Riviera. It also attracts the International Giant Bouygues Batiment International (BBI) to participate in its equity with €23 million and BBI was gain to build.
In 2012–2013 Cypriot financial crisis occurred. A banking crisis shocking the overall market in the Republic of Cyprus involving the exposure of Cypriot banks to over-leveraged local property companies. Further, the Greek government-debt crisis, the downgrading of the Cypriot government’s bond credit rating to junk status by international credit rating agencies, the consequential inability to refund its state expenses from the international markets and the reluctance of the government to restructure the troubled Cypriot financial sector, hit hard all business all over the island and consequently forcing the management team & company collaborators to stall the project.
Just 3 years down the line, in 2016, the Company came to a final agreement with Bank of Cyprus for a full Settlement of its liabilities that were still outstanding due to the economic Crisis of 2013 opening up new horizons, hopes and opportunities and coming into an agreement with strong International partners to re-design the existing property with a new Project. In 2019 Empire was reviving its legacy via the introduction of the Hadassah Health Park.
By 2020 Empire had become a strategic investor and shareholder in Plaza Exclusive Projects (P.E.P) Plc (www.plazaexclusive.com) and Hadassah Cyprus (MMC) (www.hcmedicalcenter.com), with major shareholding in both Groups. Plaza Exclusive Projects (PEP) Plc is a public limited company registered in Cyprus owning 62,927 m² of residential and commercial land near the center of Nicosia, Cyprus. PEP in in the process of developing a diverse project in a 53,320 m² land that will include the Hadassah Health Park (HHP), supported by residential and commercial components, totaling more than 117,000 m² of property development.
At present Empire continues enhancing their Investments by participating with other strategic investors in attracting funds and completing this unique diverse project by 2024.
Designed in 172,000 square meters of undisturbed environment where eucalyptus, olive and citrus trees line in a beautiful natural setting, it combines luxury apartments, elegant residences, exclusive villas and a commercial vibrant community with an enticing mix of recreational, retail and office areas to create a unique lifestyle, re-inventing the local way of life & property development habits.
Situated in Lakatamia and only a few minutes from the center of Nicosia the project’s strategic located provides easy access to Limassol, Larnaca and Troodos highways. Riviera has been designed in meticulous detail to match international standards of high-end residential and facilities.
The infrastructure of the project is unique with exceptional landscape, amenities and smart city specifications. Whether it is an elegant apartment, a luxurious penthouse, a semi-detached or detached house or an exclusive villa, Riviera exceeds any expectations.
Empire managed to create a world-class community offering affordable luxury and a unique lifestyle for all in a land that at the time was agreed and valued at €80.000.000. Progressing the project, in September 2009, Empire signed a strategic agreement with Bouygues Batiment International for the development of the project.
BBI being a subsidiary of Bouygues Construction and specializing in complex construction projects on the international stage for more than 50 years, became one of the most internationally popular and awarded construction companies relying on a perfect knowledge of local economic environments thanks to a network of well-established offices in all five continents and in nearly 30 countries . In France, the advanced expertise of the central engineering department guarantees state-of-the-art solutions to all subsidiaries around the globe.
With Empire’s executive management’s credibility and establishment, BBI not only agreed to build this project but most importantly decided to invest over €21,000.000 of its own funds, consisting a major breakthrough for the local property & investments market.
Hadassah set the standards for excellence in medicine in Israel with a long and impressive list of achievements over the years leading the Israeli government to recognize the brand as a national Center of Excellence in several medical specialties.
In 2021 Empire has achieved one more breakthrough by officially announcing and establishing the Hadassah Medical Center in Cyprus aiming the development of an exceptional residential and commercial community built around the Hadassah Health Park, offering quality of life, security in a beautifully landscaped environment.
Hadassah Cyprus aims to:
The centerpiece of the project is Hadassah Health Park (HHP), which will offer high quality integrated healthcare to local and International patients. Hadassah Health Park will cover the needs of regional medical tourists as well as the needs of the ever-increasing local demand & need for high quality Health Services.
PEP has signed a 20-year Lease Agreement with H.C. Management of Medical Center Plc (MMC), the Tenant to construct and deliver five medical buildings as a warm-shell, by 2024. The facilities include, a 266-room Inpatient Hospital; an Oncology Center; a 90-room Rehabilitation Center and 2 Outpatient buildings with 89 daycare positions.
MMC is the sole owner of three subsidiary companies, which will run as independent profit centers: