The idea is simple. When contracting for timesharing (multi-ownership or time ownership or holiday ownership as it is sometimes described) you become the undisputed owner and user of a specific property for a specific period of time each year for a specified number of years.
In the case of Malama, timesharing means free enjoyment of facilities of the Malama hotel village complex for the specific period of time you buy for each year for whatever the number of years you have contracted. To put it in another way, you buy your future holidays at today’s price.
Let us put it in another way: if you buy a "time share" (one week or multiple) at Malama, it is yours till the year 2030 for your own stay or for your relatives or friends or for bequest or for sale. Like any other asset, the acquisition of a "timeshare" title allows you to dispose it of the way you like and when you like.
2) What are the most significant benefits from buying a timeshare?
With one single lump sum payment in advance you buy your holidays practically for a lifetime. So, not only you protect your holidays against inflation which, as we all know from experience, is yearly increasing thereby making holidays correspondingly more costly, but also you acquire a valuable asset which you can transfer basically without any extra cost to any one you decide yourself.
Buying a number of "timeshare" weeks you secure a self – owned holiday accommodation for your future holidays far more cheap than a home or apartment on the beach. What is more you buy peace of mind. The lodgings are not only in an excellent environment of a picturesque holiday village built on Protaras sandy beach – the Malama Beach Club – but you have also the advantage of saving yourself from any headache about its maintenance and upkeep.
To put it more succinctly, in the case of Malama Beach Club the purchase of a "timeshare" means an investment associated not only with the co-ownership of the property but also with the operation of a very elegant and highly comfortable village complex with "colonial" character, equipped with all modern amenities which render holidaying memorable.
3) Why should I become a member of Malama Beach Club?
Because this is the only way of securing a share in the long, multi-year lease owned by the Club and which has been secured and registered in its name till the year 2020.
Having become a member of the Club you automatically become ipso facto the timeshare owner of a fine suite for staying for as many weeks as you buy and you can thus enjoy your holidays in an idyllic hotel environment every year without any booking cost or charge.
In fact, the Club looks after everything for you.
4) What does Malama Beach Club offer?
"Malama" in Greek means "pure gold" and that is what it is. A golden reality comprised in the combination of a golden coast and a sea with the crystal clear waters of Protaras, the alleys, houses with beautiful gardens, two large external swimming pools, luxurious and comfortable suites with all amenities, restaurants and bars and modern gymnasium, sauna, steamroom, jacuzzi etc., heated indoor swimming pool in decorative exotic caves, in-house scuba diving school and other marine sports, two floodlit tennis courts, squash court, ping-pong and all the rest including day and night animation and a kids club. Attached a detailed description of the many amenities. Hotel descriptionAnimation programmeMalamino children’s Club
5) Is it not monotonous and tiresome to have my holidays every year in the same place and the same environment?
This is a matter of personal pursuit and family circumstances. Yet, it is good to remember that Malama Beach Club is affiliated to the R.C.I Group, the largest international organisation for holiday exchanges throughout the world. You can opt, whenever you decide, to exchange your holidays at Malama for holidaying at any of the R.C.I. 4500 resorts in the five continents. Not few are those who buy a timeshare at Malama just to have this possibility of exchange in a country of their choice at lodgings of corresponding luxury (RCI’s top classification of "Gold Crown") without any extra charge, over the next decades ,till 2030. This will allow you to spend your holiday one year in Paris or Orlando, the other year at snow-clad Alps or the exotic islands of the Caribbean or the Pacific and so on.
In effect, acquiring a timeshare at Malama you prepay your holidays for a lifetime at any of the prime resorts of R.C.I anywhere in the world. And the number of these resorts is growing each year. No additional cost is involved for your accommodation in any of the corresponding accommodations you may choose anywhere in the world. Your membership of R.C.I is optional. It only involves an annual fee, for the multiple services it makes available to you and includes putting you on their mailing list for the rich illustrated travel magazines it publishes.
6) Do the prices of the various weeks differ?
Yes, according to the time period, the size of the suite and its location.
7) Are there any other costs or charges after I become the owner of a specific timeshare week?
The only additional expense is an annual contribution in the form of "administrative management fee". It is a fair and justified fee for the operational expenditure and the maintenance cost for your property acquisition.
8) What is this administrative or management fee?
It is the aim of Malama Beach Club to spare the timeshare owners of any disturbance, harassment, disquiet or care about the operational of their lodging and for its maintenance at the highest possible standard.
The annual charge is determined having due regard to the rate of inflation.
The current rate is €320 for one bedroom and €337 for two bedroom suites inclusive of VAT.
The annual charge reflects the actual cost each year for operation and maintenance. Each timeshare owner pays his proportion according to the number of timeshares weeks he owns. All costs are presented to an independent firm of Public Auditors for thorough scrutiny.
9) What does the administrative charge cover?
It covers maintenance inside and outside the suites. Repairs and replacements of furniture, redecoration, T.V. sets when beyond repair, kitchen utensils and other items and generally whatever is comprised in each suite. It also covers painting, inside and outside, cleanliness costs, laundry, maintenance/cleaning and attendance for squares and parking places, gardens, sports grounds, electrical and sewage and air-conditioning costs, payment of taxes, fees and any dues, for the Cyprus Tourism Organisation, Water Board, Electricity Authority and/or Telecommunications, the Municipal, Land Registry Office and other public or local organisation charges and fees related to the timeshare suites.
The administrative fee also covers insurance premium for the premises and premiums for insurance cover for yourself and your family against third parties, charges for room attendants (charge of bedsheets, towels etc) supply of soap, detergents, toilet paper etc.
Moreover, it includes 15% for the Management Company which is in charge of the Club’s management and operation, it being appointed or dismissed by the Club’s Administrative Committee.
In other words, the charge directly relates to the service provided which is of very high standard indeed to fit the requirements of a demanding and unique resort. It is calculated to ensure for you and your family enjoy carefree and happy holidays every year, for the duration of the timeshare period, without any headaches, in a constantly refurbished and attractive environment at the lowest possible cost, without one single cent of profit or surcharge for such services. So the attraction and value of membership of the Club is not simply kept up but is also enhanced with time.
10) Are there any charges other than the above annual administration (management) fee?
There is absolutely no other annual fixed charge. The administrative fee is payable in advance of each calendar year, and is promptly billed to you. A capable and experienced management team ensures the lowest possible level of expenditure. It is underlined that there is absolutely no element of profit in the administrative fee.
11) What happens if I decide to sublet my timeshare week or weeks?
Since you have the right of absolute use and enjoyment of the property for which you contract, you are entirely free to offer or sublet it.
12) What happens if I want to sell my timeshare weeks?
You can do so yourselves or apply to a resale agency (there are several such agencies in Europe) which will promptly undertake the job for you against a commission.
13) Who are in charge of the resort?
The Solomides Family has the controlling interest in the landowning companies, Valentine Estates Ltd and Unitechno Trading Ltd. The Executive Chairman is Renos Solomides. He served for several years as Minister of Finance, Chairman of the Federation of Employers and of the Cyprus Development Bank and until recently Chairman of the Cyprus Association of Tourist Enterprises. He holds directorships or acts as consultant to a number of major business organisations. On the Board of Directors also sits Kyriakos Christophi, former Minister of Tourism and Jack Aristidou, former Minister of Labour.
14) What is the legal status of the Club?
Malama Beach Club issues to each purchaser of a timeshare week a Certificate of Club Membership, in the same way as a company issues share certificates. Since the Club has secured, and registered with the Land Registration Office, the lease of the land in the name of Trustees, each member of the Club indirectly becomes a timeshare tenant. In this capacity he is absolutely secured that he can enjoy undisturbed till the year 2030 the excellent lodgings and many facilities which are available on the leased land.
The Club members automatically become timeshare owners by reason of the registration of the land at the Land Registry Office in the name of the Club through Trustees. Even if at some subsequent stage the land is mortgaged or even sold altogether, the timeshare holder’s rights for undisturbed use and enjoyment of the suite purchased remain absolutely unaffected.
Consequently the purchaser of timeshare week(s) becomes as from the time of his acquisition of membership in the Club a co-timesharer through the Trustees of all the lodgings being erected on the land according to the contract of lease (registered at the Land Registry Office) between the landowners and the Trustees in favour of the Club. In other words, the timeshare holder obtains through the Club and the Trustees "tangible ownership" without any other formalities or declarations.
The detailed function of the Club is clearly and thoroughly defined in the Club’s Constitution.
15) How can I have additional information or apply to buy timesharing week(s)?
You are welcome to pay a visit, write or phone at the offices of Malama Beach Club, P.O.Box 33249, 5312 Protaras-Paralimni, Email:
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Tel.: +357 23822000, Fax: +357 23825677.
16) Before I buy timesharing week(s) and become a member of Malama Beach Club, could I obtain more information or clarification about the legal aspects of the matter from the Club’s legal advisers?
You may apply either to Mr. Christos Mavrellis and/or Mr. Chris Georgiades at Chryssis Demetriades & Associates Law Office in Limassol (Tel.+357 25-582424) for expert and free advice or you can of course consult your own lawyer.
17) Which are the current sale prices at Malama Beach Club?
Prices depend on the location of the suite and the month of the year. For example one week of sea-view suite in the month of August varies from €12.000 to €17.000.
Our Timesharing Concept
