Advertisements in the local press show that more and more properties in Cyprus are getting auctioned by banks but also by private funds which have bought non-performing loans.
One of them is Gordian Holdings which is selling both expensive and cheap properties – from luxury homes to apartments and fields. These are part of Helix project’s NPLs which the fund had bought from Bank of Cyprus at the price of €5.7 billion, secured by 9,065 properties.
According to Phileleftheros, Gordian Holdings is auctioning a plot of 521 sq.m. at Ayioi Omologiites area in Nicosia at the price of €461,200, on July 15. As well as a plot of land, 595 sq. metres long, at Platy Aglatzias for €964,400. Cheaper properties to be auctioned, also on that day, includes an apartment of 62 sq. metres in Agios Vasilios area, Strovolos, at the price of €71,600.
Moreover, an apartment in Engomi, 88 sq.m. long, will be auctioned at the price of €78,400. And a piece of land, 45,659 sq. metres, in Agios Ioannis area in Nicosia will go at the price of €155,600.
On July 17, Gordina Hldings will auction a field of 2,156 sq. metres in Kalopanayiotis village at the price of €14,000. And a plot of land, 521 sq. metres, at Ayioi Omologites at the price of €461,200. As well as four filed in Orounda, Nicosia district.
In addition, two plots in Kato Paphos of 550 sq.m. and 517 sq.m. each, will be auctioned at the reserve price of €298,000 and €280,400, respectively. Two shops in Polis Chrysochous will be auctioned at the price of €281,200. In Anarita, a farmhouse of 5.529 sq.m. long, will be auctioned at the reserve price of €57,600. In Tala, a two-storey house in an area of 844 sq.m. with a courtyard, swimming pool, and covered parking will be sold for €159,600.
The headquarters of Gordian Holdings are in Nicosia, with representative offices in Limassol and Larnaca. They are now in the process of hiring personnel to fill in various positions.