It works as follows:
- The seller grants his plot to the developer who erects a building on the set plot. In return, the developer pays the seller in kind i.e. with units of property of the building.
- The percentage of the units given to the seller depends on the area and value of the plot. It usually ranges from 18% to 33%.
FOX has arranged several plot granting transactions in the past and will be happy to assist any party wishing to enter such Real Estate transactions in Cyprus. If you are looking for further information on this, please contact us for more information at 22873380.