High-end residences coming to Paphos
In an exclusive interview with the Cyprus Mail, Elena Petropavlovskaya, BBF’s Global Commercial Director, shares key insights into the company’s newest high-end residential project, bbf: eden bay, located in the heart of Paphos.
With her extensive experience in the real estate industry, Elena provides valuable perspectives on the strategic decisions, market trends, and unique offerings that define this prestigious development.
Additionally, the interview concludes with a statement from Paphos Mayor Phedonas Phedonos, who comments on the development’s significance to the local community and the city’s broader vision.
Could you introduce BBF’s new residential project in Kato Paphos near the Kings of the Tombs?
Our latest residential complex, :eden bay, is a premium development located in Kato Paphos, just a stone’s throw from the Kings of the Tombs.
The project covers a plot of 12,975m² and offers an exclusive blend of refined urban living with the serenity of a coastal retreat.
The development is strategically positioned within walking distance of essential amenities, making it both convenient and desirable.
:eden bay exemplifies BBF’s dedication to quality, providing a lifestyle akin to that of a luxury resort while nestled in a serene, urban environment.
The project will feature a total of five three-storey apartment blocks, each housing a limited number of units, ensuring an intimate and upscale community feel.
The development also includes two outdoor pools and green spaces, allowing residents to enjoy captivating sea views – views that are guaranteed to remain, thanks to a construction ban protecting the surrounding heritage sites.
What inspired the location and design of this high-end living complex?
The inspiration for :eden bay stems from two primary sources.
First, we drew heavily on the success of our award-winning :eden roc development in Limassol. :eden roc set a new benchmark for premium living, and we sought to replicate that essence – both in design and lifestyle – here in Paphos.
Secondly, the design reflects a strong commitment to a human-centric approach. At :eden bay, we wanted to create a bridge between home and hospitality, offering residents not just a place to live, but a vibrant community with a resort-like ambience. Central gardens serve as the heart of the development, encouraging social interaction among residents and fostering a real sense of community.
Our long-standing collaboration with UHA, the esteemed architectural firm, has once again proven invaluable. Together, we’ve crafted a masterplan that integrates :eden bay’s luxurious residential units with the natural topography of Kato Paphos, ensuring a seamless blend of sophistication, tranquility and convenience. Its proximity to the coastline makes it a true coastal haven, with the added assurance that its natural beauty will endure for years to come.
Why has BBF chosen Paphos for this new development, and what advantages does this location offer?
Our decision to develop in Paphos aligns with BBF’s broader strategy to expand our portfolio geographically and offer diverse real estate products.
After a comprehensive market analysis conducted in 2023, we identified a growing trend: buyers are increasingly looking beyond Limassol as purchase prices and land acquisitions had reached their peak causing prices and costs to skyrocket.
Both Paphos and Larnaca emerged as attractive alternatives, but Paphos, in particular, stood out for its potential.
Paphos offers several key advantages. The area where :eden bay is situated benefits from excellent infrastructure and proximity to key amenities, such as the old city, bustling urban areas, and beautiful coastlines.
Additionally, Paphos’ rich cultural heritage, combined with modern conveniences, offers a lifestyle that appeals to a broad spectrum of buyers, from families to investors.
Importantly, our success with bbf: the heritage – our first residential development in Paphos – further cemented our confidence in the city’s real estate potential. The location of :eden bay, near some of the island’s most iconic landmarks and natural trails, provides an ideal blend of convenience and natural beauty, ensuring it stands out as a premier investment opportunity.
How does Paphos fit into BBF’s overall market strategy?
Paphos plays a fundamental role in BBF’s market strategy, particularly as we adapt to shifting buyer preferences.
While Limassol continues to see demand for apartments and villas, there’s a noticeable trend towards exclusive, community-based residential developments in Paphos. Our research indicates a growing preference for modern, well-located apartments offering superior infrastructure and amenities within a gated community.
With :eden bay, we aim to meet these evolving preferences by providing a range of premium amenities, including a sauna, gym, swimming pools, beautifully landscaped gardens, a children’s playground and a coworking space.
These offerings reflect our commitment to enhancing urban living standards, positioning :eden bay as a key player in Paphos’ premium real estate market.
Can you describe the current real estate trends in Paphos?
The real estate landscape in Paphos is undergoing a transformation. There’s increasing demand for modern residential apartments equipped with state-of-the-art infrastructure and facilities. Buyers are particularly drawn to properties that offer a community-focused lifestyle, which has led to a surge in interest for developments like :eden bay.
Our analysis has pinpointed several high-potential areas in Paphos for development, focusing on locations that balance historical charm with natural beauty. From the old city to beachfront properties, Paphos is quickly becoming a sought-after location for high-end residential investments.
Who are the typical buyers interested in this new project?
Our buyers can be broadly categorised into three groups.
First, we have investors who purchase properties at the off-plan stage. These buyers are looking for high returns on investment, either through renting out the property or reselling it post-completion – something that they can rely on us for, as we do offer services on demand for rentals and resale.
Their interest is driven by the potential for significant ROI as the project’s value appreciates, given its significant location, the high-end development and unique design and infrastructure.
Second, there are end users – individuals and families seeking permanent residency in Cyprus. For them, :eden bayoffers the perfect combination of modern, comfortable apartments within easy reach of everyday amenities and infrastructure.
Finally, our diverse unit mix caters to a wide range of lifestyle needs, from elegant studios to expansive four-bedroom apartments and exclusive penthouses. Each residence is masterfully designed, offering a blend of luxury and convenience, making :eden bay a suitable choice for a variety of buyers.
What marketing strategies are you employing to promote this new project?
We’ve already launched :eden bay through a successful networking event for real estate agents and our valued partners. This marks an important milestone for BBF’s growth in Paphos.
In addition to this, we’ve implemented plot branding and released marketing materials, including brochures, digital campaigns, and a press release distributed to local media. These efforts are designed to build awareness and drive interest in the development.
What lessons from your successes in Limassol are you applying in Paphos?
Our experience with :eden roc in Limassol has provided invaluable insights. The project, with its world-class design and high-end infrastructure, sets a new standard for luxury living.
We’ve applied these lessons to :eden bay, ensuring that it offers a similar high-end gated residential experience, but with a design concept that is uniquely suited to Paphos. Our goal is to create another world-class community that meets the demands of discerning buyers.
What strategies does BBF employ to hedge against market volatility and competition?
At BBF, we’ve built a diversified real estate portfolio that allows us to remain resilient in the face of market volatility.
Our holistic brand ethos: ‘Build. Better. Future.’, is at the core of everything we do.
From bbf: design offering custom-tailored design solutions to bbf: care providing tailored property management services from cleaning and maintenance to concierge services, and bbf: rent delivering high-quality rental management solutions, we ensure a seamless experience for our clients at every stage.
How does the project incorporate sustainability practices?
Sustainability is a key aspect of :eden bay. From bioclimatic design and the use of solar panels to maximise energy efficiency to innovative residential facilities that enhance residents’ lifestyle experience – including a coworking zone that embraces the live-and-work concept, a children’s playground, landscaped gardens and public green areas. All this caters to creating a sustainable and vibrant residential community.
Reflecting on the transformation of Paphos from 2015 to 2024, Paphos Mayor Phedonas Phedonos said that, “During this period, the city embarked on a structured and concentrated effort to rejuvenate its image.”
He explained that the main goal was to implement comprehensive and sustainable planning, adding that, “Paphos needed to become a destination offering both residents and visitors comfort and safety, with upgraded and pleasant public spaces.”
He emphasised the importance of outdoor areas, noting that “the city had to strengthen and revitalise its outdoor spaces, which would not only attract people but also preserve Paphos’ beauty and authenticity.”
Phedonos further mentioned, “We needed to increase the amount of green space, provide more playgrounds, create athletic fields, and ensure well-organised areas for recreation.”
He also highlighted the necessity to clean and organise the city’s environment, stating that, “It was crucial to showcase and preserve our historical monuments, making Paphos a clean and welcoming city.”
“We worked and continue to work to make Paphos the most attractive and beautiful city in Cyprus,” Phedonos said, adding that “Paphos should be a city worth living in, working in, and visiting.”
He emphasised that the city should serve as a hub for “education, entrepreneurship, family life and business.”
Looking toward the future, the mayor shared his vision, stating, “The city I envision is one of high-quality education, knowledge and culture – a centre of innovation, research and entrepreneurship.”
He concluded by expressing his hope for Paphos, saying, “It should be a place where both residents and visitors are at the heart of its ongoing progress and development.”