Engomi Plots

Engomi Plots is a building plot subdivision in Engomi – a central district of Nicosia (the capital of Cyprus), developed and partitioned by Aristo Developers. The subdivision comprises 90 plots ranging from 520 m² to 820 m² in the Ka8 urban planning zone, with a 60% building factor, 35% coverage factor, and a maximum height of 2 floors. Currently, over 50 plots have been sold, with around 13 plots on offer starting from €185,000.

The project is located near the US Embassy, Mall of Engomi, and European universities (European University Cyprus, University of Nicosia), approximately 5 minutes' drive from central Nicosia. Each plot has an individual title deed – a major advantage for investors or individuals wishing to build a home.

Key Features of Engomi Plots

A total of 90 building plots with average sizes of 520-820 m², with the largest plot exceeding 820 m². The Ka8 urban planning zone allows a building factor of 60%, a coverage factor of 35%, and a height of 2 floors. For each 520 m² plot, a residential property with a built area of up to approximately 310 m² can be constructed (with the 60% factor).

All plots feature completed infrastructure including roads, electricity, water, and drainage. Each plot has its own title deed certifying ownership. Located in the central residential area of Engomi with full infrastructure.

Engomi and Nicosia – the investment case

Engomi is one of Nicosia's highest-priced property districts, known for its European universities and diplomatic enclave (numerous embassies). The area hosts high-end educational institutions such as European University Cyprus, University of Nicosia, international primary and secondary schools, and major private hospitals.

Nicosia is the capital and administrative centre of Cyprus, with Larnaca Airport 45 km away (a 40-minute drive). Central Nicosia is a 5-minute drive from the project, and the motorway connecting to Limassol and other districts is 3 minutes away. Mall of Engomi is 1 km away.

Engomi Plots Building Land Is Not Directly Eligible for Cyprus PR

This is an important point to note: under Regulation 6(2), Cyprus Permanent Residency requires investment in new residential property or commercial property with a minimum threshold of €300,000 excluding VAT. Building Land (Plots) Is Not Recognised as Eligible Real Estate for the Cyprus PR programme under Regulation 6(2) – only residential properties (apartment, villa, house) or commercial properties with completed structures qualify.

However, investors can combine Engomi Plots with a house construction contract to meet Cyprus PR requirements – the total value (land + house) must reach at least €300,000 excluding VAT and be a new, previously unowned property. This option is suitable for investors seeking to design a house to their personal preferences rather than purchasing an existing home. Aristo Developers can assist with advice on building contractors and Cyprus PR application processing under this option.

Aristo Developers – the developer

Aristo Developers is one of the largest private property developers in Cyprus, operating for over 40 years with more than 500 real estate projects on offer in Paphos, Limassol and Nicosia. Aristo was the first developer in Cyprus to own and build golf resorts, educational institutions, shopping centres and water parks. Engomi Plots is one of Aristo's few Nicosia projects.

Tax Advantages

Purchasing building land in Cyprus incurs the standard VAT rate of 19% (without the reduced 5% VAT incentive applicable to residential homes). Transfer Fees are approximately 1.5-4% depending on value. Notary and Land Registry fees are around 0.5-1%. When constructing a house on the plot, construction materials and services incur 19% VAT (which may be refundable if the property is commercially rented).

The combined land + construction option for Cyprus PR purposes requires working with a Cyprus lawyer to structure the transaction in compliance with regulations and ensure the total investment value reaches €300,000 excluding VAT. If the constructed house qualifies for a reduced VAT rate of 5% (for the first 130 m², with a total transaction value under €475,000), costs can be optimised.