International real estate advisor Savills has formed a new residential association with Elit Blue in Cyprus, the two companies said in a statement.
Elit Blue was founded by 8G Capital Partners, a private equity firm primarily focused on asset management and transaction advisory services and established in 2007. Elit Blue will offer residential real estate services.
Hugo Thistlethwayte, head of international residential, Savills, said, “Cyprus is a fast growing economy and is a key market for investors, particularly those based in the Far East and the GCC region who are attracted by the citizenship investment programme. Post the global financial crisis, we are seeing the return of British buyers who have a strong history with the island.”
Tassos Kotzanastassis, chairman of Elit Blue, said, “The residential sector in Cyprus is undergoing a transformation. The island is fast becoming a regional hub for professional services and we have seen significant investment through the citizenship by investment programme. Our association with one of the global leaders in real estate will give Elit Blue and its clients access to first-class advice across the Savills network of over 600 offices in 60 countries.”
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