Exness Invests in Paphos Land as Limassol Property Prices Soar

Exness has reportedly purchased €75 million (USD $86 million) worth of land from the Bank of Cyprus in the coastal city of Paphos, according to a recent report by KNEWS.

The acquisition includes approximately 200,000 square meters of property previously held by the Bank of Cyprus’ Real Estate Management Unit (REMU). The land originally came under REMU’s ownership through a debt-to-asset swap with the Leptos Group, connected to the stalled Neapolis Smart EcoCity development project.

Exness Invests in Paphos Land as Limassol Property Prices Soar

Headquartered in Limassol, Exness is among the city’s largest employers and has long faced challenges in acquiring adequate office and residential space due to skyrocketing real estate prices. Both commercial and residential properties in Limassol have become increasingly scarce and expensive, driven by high demand and limited availability. These constraints have prompted the firm to look beyond city limits to support its continued growth.

The newly acquired land in Paphos, located about a 40-minute drive west of Limassol, presents Exness with a strategic opportunity to address its space and housing concerns. The company may use the site to build a new corporate campus, residential housing for employees, or a combination of both.

Many Exness employees currently commute from Nicosia, a longer and more congested drive to Limassol. A relocation or partial shift toward Paphos could significantly ease commuting pressures and enhance employee convenience and satisfaction.

Known for its strong local presence, Exness employees are a familiar sight in Limassol, often spotted driving the company’s branded Mini Countryman cars. With this major land acquisition, the broker signals its commitment to long-term expansion in Cyprus and potentially reshaping the regional business landscape.

The transaction underscores the growing tension between corporate growth and urban infrastructure in Cyprus’ booming cities.

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