Cyprus Business Now

ASBIS, an information and communications technology distribution company based in Limassol, has announced that it has made a property acquisition to the tune of €6.2 million.

The recently acquired 5,735 square metre property is located in the Agios Athanasios Industrial Zone and will house the company’s new Limassol headquarters.

The company’s Cyprus offices are used to manage and support thirty stock points across Europe and the Middle East.

The Cyprus Stock Exchange had a profitable day on Thursday, August 5, recording a 0.27 per cent profit margin over the previous day.

Transactions on the day came up to a total of €91,395 with the biggest investment interest being focused on Bank of Cyprus securities with € 48,971 (closing price € 1.08, an increase of 0.93 per cent), Logicom with € 20,960 (closing price € 1.60, unchanged from the day before), Vasilikos Cement Works with € 8,482 (closing price € 2.52, unchanged) and Hellenic Bank with € 7,360 (closing price € 0.87, a drop of 0.23 per cent).

The FTSE/CySE 20 Index closed at 40.49 points, registering gains of 0.22 per cent.

Leptos Group, Iacovou Group and Zemco Limited have announced a partnership for the construction of Limassol Blu Marine.

The project, which involves architectural design and engineering input from UK firms Benoy architects and Buro Happold engineering consultants respectively, includes a 35-floor residential building with 28,000 square metres of space which will be completed in the first phase of the project, as well as an interior pool, a restaurant, a cafeteria and a spa.

The construction costs of the project will be financed through the sales of the apartments it will include.