Loshak Ilya creates a new shopping destination at Limassol Del Mar


Seven years ago Loshak Ilya opened his first boutique in Cyprus selling international designer brands. Fast forward to 2020, having created a successful collection of stores and thriving online business, Loshak has now chosen Le Plaza Del Mar, a new shopping destination being built as part of the beachfront Limassol Del Mar development by Cypeir Properties, for his new and largest multi-brand boutique to-date.

Attracted by year-round sunshine, the culture, the safety to bring up a family and all the lifestyle and business benefits Cyprus offers Loshak chose Limassol to invest and make his home: “The unparalleled location, consideration to architecture and design as well as the accessibility make Limassol del Mar the perfect location for my new store. The residential offering will set a new standard for luxury residences on the island, international owners and visitors will create ideal footfall and enjoy having access to the best international brands literally on their doorstep.”

The new First Boutique stocks some of the world’s most sought-after designers to the most vanguard labels, Christian Dior, Celine, Balenciaga, Saint Laurent, Brunello Cucinelli, Berluti, The Row and Zimmermann to name a few. A personal shopping concierge and style consultation provides the ultimate service which First Boutique has become known for.

The entrepreneur had originally set out to work in the finance world but was quick to recognise the opportunity for quality retail on the island to serve the needs of the increasing high net worth residents, visitors, and investors. Together with his fellow Russian business partner Mikhail Lebedev, the pair set up Milya Group, the parent company of First Boutique.

Capitalising on the demand for global luxury and the new wave of emerging labels, his stores have become destinations in themselves and flagships for luxury in the region.  Crucially, with his portfolio of stores, he is capturing the increasing numbers of discerning visitors and investors in the island attracted by the temperate year-round climate, the culture, the lifestyle and world-class amenities.  First Boutique has a loyal customer base in Cyprus but also welcomes shoppers from across the globe including those from the Middle East, Russia and Israel.

After spending several years looking for the right location to open his next luxury retail outlet, the thirty-three-year-old found Le Plaza Del Mar. He explains:

“We are the youngest company in the Cypriot market to operate in the luxury fashion sphere and were the first in the country to offer an online service. We recently shipped a pair of limited-edition shoes to an LA based influencer which generated hundreds of queries; our prompt worldwide shipping along with a customer focused approach has seen our profits increase almost tenfold since we started out in 2012, and we’re now excited opened our new store at this landmark destination, with a further growth of 20% per year.”

The store’s interior is by architect and designer Victoria Musina and will reflect the sensuous curvilinear form of the building. The masterplan of Le Plaza Del Mar will create a vibrant destination in which to enjoy the many high-end boutiques, luxury treatment salon, restaurants and five-star leisure amenities. The impressive retail offering is set to open its doors beginning 2022, securing more than 200 local, new jobs and driving hundreds of shoppers to the vibrant, coastal town of Limassol. There is also space for 260 vehicles with allocated parking for the commercial area.

Designed by award-winning London based landscape architecture practice, Cracknell the space reflects the essence of the Mediterranean Sea in every detail from planting and paving to outdoor furniture layout, and curved walkways reminiscent of water lapping at the development’s edge. Elevated pocket gardens surrounded by water, form intimate private spaces for residents and guests to relax in, while enjoying restaurants and bars looking out across uninterrupted sea views.

The Limassol Del Mar development includes one to five bedroom apartments and penthouses in its most recent phase, The Signature Collection, situated in the second tower, across 27 floors. Its interiors include furnishings by Gianfranco Ferré Home and beautifully crafted terraces with dual-aspect panoramic views across the Limassol coastline and beyond.

Located on Cyprus’ south coast, Limassol is the island’s most cosmopolitan city. With a 17km coastline of azure water and blue flag beaches, as well as a wealth of history and culture, it is a hub for both business and leisure. The city has been voted one of the world’s most up-and-coming, internationally renowned for its vibrant nightlife and an array of cafes, bars and clubs to cater for all tastes.


For further information please contact Victoria Eltis at Four Communications 

+44 (0)20 3907 8986
or visit 

About Limassol Del Mar

Cypeir Properties Ltd is a joint venture between two of Cyprus’s most renowned developers, The Leptos Group and The D.Zavos Group. Together they are delivering Limassol Del Mar.

The Leptos Group has become synonymous with refinement and excellence in quality design, construction and development services in Cyprus and Greece and operates mainly through various companies, two of which are listed on the Cyprus Stock Exchange. Today the company operates offices in Paphos, Limassol, Nicosia, London, Moscow, St. Petersburg, Kiev, Beijing and Dubai with affiliations throughout the globe.

D. Zavos Group is one of the leading land and building development companies in Cyprus. Established in 1980, they have proudly developed a reputation for building successful leading edge residential estates and commercial projects at prime locations in Cyprus. Today the company operates offices in Limassol, London, Amman, Cairo, Moscow, with affiliations throughout the globe.

About First Boutique

Launched in 2012 First Boutique is the biggest luxury multi-brand store and online shop in Cyprus stocking exclusive designer clothing, shoes and leather accessories from around the world.  The Boutique also houses an award-winning range of skincare products, as well as perfumes and colognes. The collections are hand-picked by a team of professional buyers traveling to fashion capitals every season to personally select one-of-a-kind pieces that meet First Boutique’s requirements for quality, luxury and design.

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