Uglobal Immigration Magazine is pleased to announce the Top 25 Investment Migration Developers for 2021. To be eligible, distinguished developers needed to primarily cater towards investment migration solutions.
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ARISTO DEVELOPERS
HQ: Paphos, Cyprus
CEO: Theodoros Aristodemou
Aristo Developers has been one of the leaders in the property development sector in Cyprus for more than 40 years. They have built thousands of residential and commercial properties across Cyprus along with landmark developments such as schools, waterparks, shopping malls and golf resorts. During the past few years, they have gathered hundreds of clients from various continents that chose Cyprus as their preferred destination for them to relocate to and benefit from the various active residence and citizenship by investment schemes. Their physical presence of 3 offices in China, Russia, Vietnam, Dubai, Egypt has helped their promotional efforts and visibility in those regions.
What new construction trends are you seeing in the global RCBI industry especially with the impact of COVID-19?
Jurisdictions that offer good living conditions top the list for investors that want a plan B. We believe that a growth in the suburbs and rural areas will flourish, and consumers will now choose housing with large interior and outdoor spaces. The experience that some had to face being in lockdown in small apartments will be a contributing factor to the increasing demand of buying houses over apartments. However, there is still some uncertainty about what the actual trends will be since the market has not fully returned to norm due to travel restrictions that are still in place.
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BEHRING CO.
HQ: San Ramon, California, USA
President/CEO: Colin Behring
Behring Co. is a vertically integrated real estate developer, private equity fund manager, and EB-5 regional center serving the San Francisco Bay Area and Silicon Valley. Behring owns and operates the Behring Regional Center (BRC), a USCIS accredited EB-5 regional center with 100% investor approval history, serving hundreds of investors since 2013. BRC focuses on delivering superior, fully integrated, multifamily development projects while providing EB-5 investors with a comprehensive EB-5 platform with educational resources, flexible investment options and project tracking. Behring Regional Center successfully led a legal challenge against DHS/USCIS over the 2019 EB-5 regulations, restoring the original $500,000 EB-5 investment amount in June 2021.
What new construction trends are you seeing in the global RCBI industry especially with the impact of COVID-19?
The Covid-19 pandemic highlighted the vulnerability of certain asset types that rely heavily on operations and services – hospitality, retail, etc. Demand for residential development remains strong as everyone needs a place to live, and it remains a critically needed “space.” Urban office, hospitality, retail, and other properties are going to have to find alternative and additional ways to provide value to their users to command the type of asset values previously sought. Residential will remain in critical demand.
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CYFIELD GROUP
HQ: Nicosia, Cyprus
Executive Director: George Chrysochos
Cyfield Group is one of the leading real estate developers, general contracting and construction groups in Cyprus. The group operates in all areas of the construction industry: land development, contracting of public and private infrastructure projects, production and trading of specialized building materials, and energy production. With 30 years of experience, Cyfield designs, manufactures and sells all types of high-quality residential and commercial properties in Cyprus and Greece. The group’s advancement, success and excellent reputation are the result of its reliability in the delivery of the high-quality projects, the transfer of title deeds, as well as the focused business strategies, high ethical standards and strong financial base.
What new construction trends are you seeing in the global RCBI industry especially with the impact of COVID-19?
COVID-19 has considerably impacted the trends in the construction industry. The necessity to spend more time in one’s home has triggered the interest in investing in safe countries with developed healthcare systems, high education levels, good weather conditions and high quality of life. The requirements coming from the businesses have also shifted to specially designed commercial buildings. Due to new regulations, businesses are required to accommodate new ways of working together. More people are looking for smaller apartments or affordable houses outside the cities due to the increase in construction costs, as the prices for construction materials have soared by up to 100%, leading to an overall construction cost increase by 20%.
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DART
HQ: Grand Cayman, Cayman Islands
CEO: Mark VanDevelde
Dart’s real estate portfolio includes a master-planned 685-acre town center, its flagship development, in addition to a growing portfolio of world-class Seven Mile Beach developments. Dart strives to create opportunities and enhance the quality of life for all in the Cayman Islands through purposeful placemaking, meaningful connections and lasting experiences that transcend bricks and mortar. The Cayman Islands has a residency-by-investment program that offers persons of independent means or qualified business investors the path to obtain permanent residency in the Cayman Islands. Dart helps share information about this program with interested buyers in its residential developments.
What new construction trends are you seeing in the global RCBI industry especially with the impact of COVID-19?
In the Cayman Islands’ RBI program, any developed real estate qualifies provided it meets the minimum investment criteria – there are no “government-approved” real estate projects. Applicants typically acquire luxury beachfront condos or canal-front villas, which feature home gyms and offices, and private outdoor green spaces and swimming pools. A lack of restriction on foreign ownership of property, no direct taxes and no alien landholding licenses make Cayman’s RBI program an increasingly popular choice amongst HNWIs.
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FITZWILLIAM GROUP
HQ: Dublin, Ireland
President/CEO: William Smyth
Fitzwilliam Group have actively promoted the Irish Immigrant Investor Programme (IIP) since its inception in 2012. Through its network of global partners, it offers projects under the ‘Enterprise Investment’ and ‘Endowment’ options of the IIP, allowing its clients to securely achieve their permanent residency status in Ireland. Its 1million euro Enterprise Investment projects uniquely offer property backed security to clients. Endowment projects of ‘Public Good’ allow its clients to achieve their PR status by donating 400,000 euros. Celebrating 46 years in business in Ireland, Fitzwilliam Group have proudly repaid in full and on time its IIP clients.
What new construction trends are you seeing in the global RCBI industry especially with the impact of COVID-19?
At Fitzwilliam Group, we are familiar with cyclical downturns, but the impact of COVID-19 on the construction sector has been unprecedented. Projects have been delayed or shelved due to uncertainty over supply chains and cost instability. Employee health remains a concern, and there have been challenges in relation to the provision of social distancing measures on sites. Those companies that have had to furlough or lay off staff have struggled to re-employ suitably skilled personnel as the industry has recovered. In extreme cases, companies which operated without capital reserves through the pandemic may struggle to survive without ongoing financial support.
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GEMS HOLDINGS
HQ: Roseau, Dominica
President/CEO: Gregor Nassief
GEMS Holdings Limited is an impact-driven Caribbean-based company dedicated to owning, managing, and developing world-class, sustainable luxury properties and businesses in the hospitality and tourism markets. GEMS approach to hospitality, management and development combines environmental consciousness with a commitment to delivering authentic, life-enriching experiences. Guided by the vision of Dominica-born entrepreneur, Gregor Nassief, GEMS’ portfolio of owned and managed properties, real estate and citizenship-by investment offerings have received global praise for their quality of experience and design, commitment to environmental responsibility, and understanding and support of local culture and community.
What new construction trends are you seeing in the global RCBI industry especially with the impact of COVID-19?
Construction trends in the RCBI industry have been evolving over the years, however, Covid-19 has forced the industry to accelerate the pace of the change. The industry is now utilizing more digital tools to conduct its business to include undertaking technical meetings online vs. in person or on-site. We have seen quite a bit of pre-fabrication of items offsite to reduce the number of workers on the construction site to keep workers safe and the site open. Global transportation costs have skyrocketed over the past year, which has propelled the industry to look at alternate suppliers in non-traditional markets to keep costs down and to get materials on the construction site within a reasonable timeframe.
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HOMEFED CORPORATION
HQ: Carlsbad, California, USA
President/CEO: Chris Foulger
HomeFed Corporation is a real estate development company that specializes in creating vibrant, mixed-use master plan communities that combine innovative placemaking techniques and environmental stewardship. Incorporated in 1988, HomeFed is known for undertaking large, complex, environmentally challenging projects that require long-term investments. The company owns a portfolio of successful projects in California and along the East Coast, from New York to the panhandle of Florida. In addition to its community development projects, HomeFed has been active in the EB-5 immigration program for over 5 years and owns and operates its own regional center.
What new construction trends are you seeing in the global RCBI industry especially with the impact of COVID-19?
The COVID-19 pandemic has created some significant challenges for our EB-5 business, but HomeFed has risen to the challenge. The most notable challenge has been the inability to travel to our target markets. Because of this, we have been utilizing various technology platforms that allow us to interact with our partners and clients in a surprisingly efficient manner. While we hope to and anticipate traveling again in the near future, video conferences and video calls have been an invaluable tool in these challenging times.
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INVESTAUREUM
HQ: Portugal
CEO: Carlos Gomes
Investaureum is a Portuguese real estate investment group. It specializes in chartered and heritage developments, which give investors access to the Global Residence Program and Portugal’s coveted Golden Visa. It provides expert professional consulting, business mediation and investment advice to individuals and companies that wish to invest in Portugal. It acquires and rehabilitate heritage and chartered buildings across Portugal. Investaureum celebrates history, culture and authenticity. The combined knowledge and expertise of the team allows it to create the best possible mixed-use buildings that add maximum value for investors.
What new construction trends are you seeing in the global RCBI industry especially with the impact of COVID-19?
The construction industry will need a thorough review; the new projects we are witnessing are indicative of rehabilitation promoted in line with the European Ecological Pact. The basic principle of the future, in our opinion, will correlate nature with houses and cities. Greater investment in villas instead of apartments/suites will be a trend after Covid-19 as they provide a notion of greater physical distance or greater security in this post-pandemic world. With regards to the global RCBI industry, we strongly believe that traditional construction methods must undergo an urgent revolution so that construction times may be reduced, increasing the return on investment dynamics and reducing the carbon footprint worldwide.
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LEPTOS ESTATES
HQ: Paphos, Cyprus
President/CEO: George M Leptos - Co-President
Pantelis M Leptos - Co-President
The Leptos Group is a leader in land development in Cyprus and Greece, with more than 60 years of experience and expertise in the areas of tourism, healthcare, education, real estate, property design, construction, property development and property investment. It developed 350 projects and possesses an extensive land bank, which includes the best real estate and property locations in Cyprus, and Greece. It offers a wide choice of over 350 high-quality residential and commercial projects in prime locations. The Leptos Group has achieved its position through the vision of its founder Michael G. Leptos, the professionalism and team effort of its employees, its international network of sales service, its vast investment in land, and an effective after-sales service support.
What new construction trends are you seeing in the global RCBI industry especially with the impact of COVID-19?
The pandemic has forced the world to change and adapt to new conditions not only in our personal lives but also in how business is done. More people are now looking for opportunities to secure a better future for themselves and their families. People who were once looking for the vibrant city life are now looking to invest in another country where they can live by the sea in a quiet environment, enjoying life. We have also seen that people can work remotely from anywhere in the world. Cyprus is blessed with abundant nature, beautiful beaches, and a small population. It has also handled Covid-19 very well. 85% of the population has now been vaccinated and the death rate is minimal.
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MIBS GROUP
HQ: Athens, Greece
President/CEO: Elena Shiapani
MIBS Group is an Athens-based developer, investor, and operator of mixed-use real estate. With a focus on location and luxury living, it offers clients a combination of an ideal environment for property investment suitable both for income generation and self-living. It has been involved in the RCBI industry since the earliest days of the program with 100% success rate. Its team provides a full package of services and support through the whole process of property investment and acquisition of the Greek Golden Visa.
What new construction trends are you seeing in the global RCBI industry especially with the impact of COVID-19?
The main trend we see is that people are focused on the significance of living in a nice home. There is an increase in demand for higher quality properties, with environmental footprint, more in-house amenities, and the utilization of technology in marketing and deal-making with the usage of virtual reality, drones and live videos. More investors buy properties remotely and that made them pickier. They study the market better and choose reputable developers and great properties located in the best parts of the city. They also emphasize more on second homes, properties not only for investment, but to live in with their families.
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OPTYLONKREA
HQ: Lisbon, Portugal
Chairman: Hakan Kodal
CEO: Charles Wanecq
President and COO: William Tonnard
OptylonKrea is a pan-Mediterranean real estate development and investment management company, created as the result of a partnership between the founding partners of Optylon Capital and Krea Real Estate. OptylonKrea has been deeply involved in the RCBI industry since 2016, having developed its first real estate projects in Lisbon targeting Golden Visa international investors. In 2017, the group pioneered the private equity and venture capital business, advising a Golden Visa eligible fund that delivered investors high returns. For its latest Portuguese regulated fund, OptylonKrea advised Golden Visa eligible funds of over €100 million total equity so far and onboarded 300 Golden Visa investors from 25 different countries.
What new construction trends are you seeing in the global RCBI industry especially with the impact of COVID-19?
As a real estate development and investment management company focused on the RCBI and branded residence markets, we are quite optimistic about the post-Covid economic recovery. The pandemic hit the hospitality industry particularly hard but serviced-apartment brands have proven to be resilient and equipped to serve post-Covid customer preferences. Recent research revealed new design trends in the hospitality market such as a growing popularity for private terraces and gardens, additional bedrooms with the flexibility to use as an office or home gym, and new technologies to facilitate personalized services. We seized the opportunity to reposition our brand, to serve not just travelers but expats and locals looking for co-living and co-working experiences that blend a local and cultural immersion.
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ORA CARIBBEAN
HQ: St Georges, Grenada, Caribbean
CBI Director: Richard Hallam
Ora Caribbean is the sister company to Ora Developers, an international development company with its headquarters in Egypt and large multi-use projects in five separate countries. Both companies are ultimately owned by Naguib Sawiris - renowned businessman, philanthropist and chairman of both Orascom and EuroNews. Ora Caribbean has a $500MM, long-term development strategy for Grenada, encompassing five hotel sites and over 500 rooms. Its first Grenadian property was completed at the end of 2018 and its second hotel, whose groundbreaking was in April of 2021, is an approved development of the Grenada Citizenship by Investment Program. Ora Caribbean is redefining the citizenship by investment model with a 100% developer buyback offer.
What new construction trends are you seeing in the global RCBI industry especially with the impact of COVID-19?
In the midst of a pandemic where personal space and social distancing are paramount and possibly the new norm, future guests will look to properties that are essentially ‘deconstructed’ from the classic hotel footprint, whereby interior corridors and lobby areas encompassing restaurants and bars will become defunct and more open-plan hotels with standalone rooms, separate dining areas and a focus on individual space will prevail.
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RANGE DEVELOPMENTS
HQ: Dubai, UAE
Managing Director, Board member: Mohammed Asaria
Range Developments is one of the leading CBI developers in the Caribbean. The company specializes in the development of ultra-luxury resorts. Since 2012, Range Developments has developed a reputation for delivering on its promises and has completed two 5-star resorts under CBI programs with the third one underway. Its first hotel has received multiple awards and has been praised in the international media. Its second hotel was the first government-approved real estate project in Dominica under the country’s CBI program. Construction of its third CBI project has commenced - the hotel will be open by the end of 2022.
What new construction trends are you seeing in the global RCBI industry especially with the impact of COVID-19?
The RCBI market has changed over the past 18 months. RCBI investors have become more discerning and are undertaking more due diligence on developers and projects prior to taking their investment decisions. Covid has eliminated the inexperienced and undercapitalized developers, leaving just a handful of mature companies. This period of consolidation will continue.
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V2 DEVELOPMENT
HQ: Athens, Greece
President: Vaggelis Kteniadis
V² Development was founded in 1962 as the successor to Ergon S.A., a company that defined the real estate sector in Greece. Being one of the leading development companies in Greece, V² Development has sold over 7,000 real estate assets under its exclusive ownership, ranging from residential, retail, hotels and warehouse facilities. Having played a fundamental role in the development of the Golden Visa program in Greece, V² Development drives foreign direct investments, actively contributing to the recovery of the Greek economy. V² Development operates globally with central headquarters in Athens, two branch offices in Greece, international offices in Beijing, Shanghai, Guangzhou, Dubai, Ho Chi Minh City, Nairobi, Doha, and a strong presence in Cairo and Sao Paulo.
What new construction trends are you seeing in the global RCBI industry especially with the impact of COVID-19?
Using extended reality, video conferencing and AI-based video analysis has emerged as a surprisingly effective method for monitoring and enforcing our company standard operating procedure. This new trend will also have a positive impact on the global RCBI industry, especially with the Covid-19 pandemic, as we can go through the whole selling process remotely.
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Winners who did not submit bios and interview answers:
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API GROUP
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BARTRA WEALTH ADVISORS
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CYBARCO HOLDINGS
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EMAAR
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ESTIA DEVELOPMENTS
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LENNAR INTERNATIONAL
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MARTINHAL RESIDENCES
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MESPIL
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MIRALBO URBANA
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PAFILIA PROPERTY DEVELOPERS
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PRIME PROPERTY GROUP
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