Real Estate

A.G. Erotocritou LLC is actively engaged in all aspects of legal work pertaining to the real estate sector. The firm is considered as one of the market leaders in the country in the real estate arena and has been consistently ranked by all directories (such as Chambers and Legal500) at Tier 1  in the area for several years. Our team provides advice to real estate companies and developers, private and public bodies, private individuals, investors, lenders, contractors and governments and assists and advises in the purchase and sale of both commercial and residential property and of other development projects. The firm undertakes a multiplicity of functions which cover all aspects relating to and associated with immovable property transactions, including, inter alia, the following:

• Negotiating, drafting and reviewing contracts of sale for residential or commercial properties
• Advice and assistance with property management agreements, multi-party agreements and complex contracts relating to major property developments
• Advice on financing matters
• Undertaking of property due diligence exercises
• Advice on town planning and zoning rules
• Advice on long – term leasing and subleasing matters
• Advice on public procurement and concessions
• Advice on real estate structures
• Due diligence on real estate assets / Investigating the status of immovable property and the seller

In addition to the above, our firm is able to undertake all requisite due diligence initiatives that may be necessitated to determine the impact of charges, environmental restrictions, planning/building limitations etc. in relation to any immovable property transactions undertaken. Furthermore, A.G. Erotocritou LLC may effectively institute or defend court proceedings on behalf of its clients in the event that any real estate matter or dispute should culminate in litigation.

In safeguarding clients’ best interests, effective channels of communication are diligently maintained by A.G. Erotocritou LLC with all key players who are directly or indirectly involved in the real estate sphere. This might entail ongoing contact with lawyers, developers, estate agents, investors, government departments (land registry, planning department, council of ministers, inland revenue), municipal/utility authorities and others. In addition, we support clients throughout the transaction, from A to Z, including the attendance and handling of all processes with the local Land Registry, Tax Department and other governmental organisations. In conjunction with our tax department, we provide to our clients tailor made optimized tax solutions in order to achieve the best and most cost effective results in each occasion.

As mentioned, A.G. Erotocritou LLC's real estate department has been consistently praised and ranked at Tier 1 by Legal 500 and at Band 1 by Chambers & Partners High Wealth for many years. Other directories such as BestLawyers, LexologyIndex, IFLR also recognise the firm and its members at the highest ranks in the field.

Commentary from various directories described Alexis Erotocritou as “the ultimate guru in the real estate arena in Cyprus”, “being described as a "commercially aware" team, which provides "very personalised service". “A.G. Erotocritou LLC provides prompt, high-quality advice and unmatched efficiency, excelling in major real estate transactions with transparency and reliability.” “Alexis Erotocritou is an exceptionally bright real estate lawyer, recognised for his innovation, efficiency, responsiveness and consistently high-quality work. “. “The real estate team benefits from strong litigation expertise, enabling effective management of disputes involving complex properties.” “Alexis Erotocritou brings commercial acumen and problem-solving ability, resolving even the most challenging real estate matters with confidence.”

Recent work handled includes:

• Represented hundreds of high net worth individuals with respect to their investments in Cyprus in the real estate sector, including with regards to the purchase of villas, residential apartments and other units. The firm handles the entire process from A to Z, including the due diligence, negotiation of the sale agreement, submission to the Land Registry Department, assistance with reduced VAT, assistance with the permit to purchase from the Government (for third country nationals), etc.
• The firm advised JD Sports on all real estate matters relating to its establishment and expansion in Cyprus, including securing premises in major shopping malls nationwide. It provided strategic legal support to facilitate the brand’s successful market entry and growth in the region.
• We were entirely responsible for the licensing process and the lease of various plots to a local entity and the subsequent sublease of the same to one of the world’s largest oilfield services companies (Halliburton) in Larnaca as well as the development and construction of various offices, warehouses and workshops to be used by the latter for energy related purposes. The deal was one of the first ever developments / large scaled projects in the energy sector in Cyprus.
• We have been instructed by a leading international firm, to undertake an extensive due diligence on various Cyprus entities with substantial assets, part of a large group which has its shares listed in the London Stock Exchange.
• The firm advised one of the world’s largest hospitality groups on the acquisition of a landmark 5* hotel in Cyprus and the development of a new 5-star hotel. It provided comprehensive legal support across all real estate, construction, and development aspects of the projects.
• We have performed a high level and extensive due diligence exercise on a multinational group (with significant real estate assets) specializing in land and transition–zone seismic sector, which (one of its holding companies) had its shares listed at the time in the stock exchange of an EU Member State.
• We have advised and assisted one of our clients in relation to their participation in the construction of a seaside residential tower, which constitutes one of the largest developments ever made in Cyprus.
• The firm represented the Cyprus company of a multinational group in connection with complex multi-jurisdictional litigation of, amongst others, real estate nature, arising from a dispute between the heirs of its ultimate beneficial owner. The case involved the grant of several injunctions, including worldwide freezing orders and the appointment of a receiver, used to safeguard the group’s assets and preserve the integrity of its global operations. The dispute was in excess of EUR 2.6 billion.
• The firm acted as the legal advisor in Cyprus and corporate secretary to a key global company within the Fattal Group, advising on major acquisitions, financings, and restructuring of hotel investments, including multiple landmark hotel transactions.
• The firm advises the founder of publicly listed Chinese company on high-value real estate acquisitions in Cyprus, as well as trust structuring and estate planning. Its services focus on protecting and structuring significant international wealth through efficient Cyprus-based structures.
• The firm advises the founder of a publicly listed multinational company, on high-value real estate acquisitions and private wealth structuring. It also provides comprehensive trust and estate planning services tailored to complex, cross-border real estate asset portfolios.
• The firm advises a leading property developer on the structuring, construction, and licensing of a major mixed-use development in Cyprus, including a golf resort and luxury residential units. Its role includes regulatory guidance, project structuring, and ongoing legal support throughout the development lifecycle.
• The firm assisted in the establishment of the second largest private clinic in Limassol, advising on all corporate, commercial, real estate, and licensing matters. It provided end-to-end legal support to facilitate the successful launch and operation of a major healthcare facility.
• Advised on the set up of a shopping mall and an industrial park.

For further information or in case you have any legal issues, please contact us at:

e: info@erotocritou.com