Karantokis Bldg., Off. 1, Princess De Tyras Str., P.O.Box 20724, 1663 Nicosia+357 22 675577roisnico@spidernet.com.cyChartered Surveyors & Valuers

3, Nicodemou Mylona Street, Limassol, P.O.Box 50354, 3603 +357 25 359191philipc@cytanet.com.cy

Stratigou Timayia Aven., Joanna Court, Off. 503, Larnaca P.O.Box 42258, 6532 +357 25 359191roisnicolaidesltd@cytanet.com.cy

CORPORATE PROPERTY STRATEGY

This is a new Service which is basically offered to two types of clients - Corporations or Companies -

• whose basic line of business is not related with property, or

• whose main activities are almost exclusively concerned with acquisition , use, development, management or disposal of property.

In fact, a Corporation of the first type, usually views its immovable property either as a necessary operational cost or as dead capital, destined merely to be recorded in the annual balance sheets. This is natural, since the concern of this Corporation is mainly towards the basic line of its operations. In such cases, there is usually ignorance and lack of information regarding the potentialities of the real estate owned by the Corporation, lack of strategic planning and proper management and finally almost complete neglect of such property.

Corporate Property Strategy recognizes real estate as an operational cost to the Corporation, but also as a valuable asset, which with proper management, enhances the overall efficiency of the Corporation. In other words, the operational property of the Corporation is viewed as a profitable strategic resource. Corporate Property Strategy examines and suggests to the Corporation ways and means by which operation and use of its property may add value and enhance the profitability of the Corporation.

This Service suggests to the Corporation ways of recognizing the wider contribution of its real estate and of exploiting its latent potential. In short, it may be said that the objective of the Corporation with regard to its property should be based on the following four fold: the right property, in the right place, at the right time, at the right cost.

For the client Corporation whose main line of business concerns immovable property (Real Estate Companies), Corporate Property Strategy is not merely useful, but becomes indispensable.

For Real Estate Companies, the importance of proper programming and planning over the whole spectrum of its operations, from the stage of market research on existing supply and demand for a certain use, to the stages of investigation to find the appropriate property for the appropriate development and to promote and enforce the decision with the appropriate planning and appropriate disposal, is immense.