Construction update

Dear Customers,

Over the last week we have received unfortunate news from our contractors Fullmarks. Due to the economic climate and rising costs associated with construction they have had to withdraw from their contract with us. This is obviously not an ideal situation at this stage; however, we are already seeking tenders from alternative companies and hope to continue the construction of the apartments as soon as possible.

In the interim period and as an ongoing project we are soon commencing work on the infrastructure for the site including electric, water and roads.

To date we have been pleased with the progress with windows, ceramics and kitchens in place for the majority of blocks from 21 down to 13. We estimate that once work recommences it should be a further 3 to 4 months before we are in a position to start handing over the apartments.

At this time we ask you to be patient and bear with us whilst we secure an alternative contractor to move Thalassa forward to completion. Once we have a suitable company in place we will be able to publish further timescales for completion.

As always we will keep you informed through our Thalassa blog - please direct any enquiries to the Cyprus office.