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Exness makes record real estate deal with Bank of Cyprus
Exness, a leading global broker in online trading, has come into the spotlight with its latest strategic move — the acquisition of land from the Bank of Cyprus for €75 million.
The deal covers approximately 200,000 square meters in Paphos and represents the most expensive sale completed by the Bank of Cyprus’ Real Estate Management Unit (REMU) since its establishment in 2016.
The land was previously associated with the now-defunct “Neapolis Smart EcoCity” project and was transferred to the bank through a debt-for-asset swap with the Leptos Group. The sale to Exness marks a major milestone in REMU’s strategy to significantly reduce the bank’s holdings of distressed real estate accumulated through non-performing loans. Following the transaction, the total volume of such assets decreased to €575 million — a notable drop from the peak of €1.6 billion and a step toward the target of €500 million by the end of the year.
Exness’ potential goals and strategic vision
Although Exness has not officially disclosed its plans for the site, market sources suggest that the acquisition may be part of a well-considered contingency strategy. One possibility under discussion is the development of an “Exness Campus” to accommodate staff, especially if the housing market in Limassol becomes oversaturated. Others speculate the land may be used for employee housing, offering a less congested alternative to Limassol’s increasingly competitive real estate market.
Located just a 40-minute drive from Exness’ headquarters in Limassol, the Geroskipou plot offers a strategic location and significant development potential.
Location, development, and strategic significance
According to REMU data, the land includes five subdivided plots with building permission for up to four stories, a building density of 105–120%, and a coverage ratio of 35%. The site is near the Stelios Kyriakides Stadium and close to residential areas and key infrastructure.
This purchase underscores Exness’ expanding presence in Cyprus and highlights the company’s long-term ambitions in one of Europe’s most dynamic fintech and online trading hubs. Amid rising land prices and limited urban space, the move could offer Exness a strategic edge in both operational expansion and employee accommodation.
Notably, Exness recently launched a new brand campaign, continuing the momentum of its 2023 initiative “Born to Trade.”
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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