{"id":116362,"date":"2025-07-20T08:35:07","date_gmt":"2025-07-20T05:35:07","guid":{"rendered":"https:\/\/www.lamaisonestates.com\/?p=116362"},"modified":"2025-07-20T08:35:07","modified_gmt":"2025-07-20T05:35:07","slug":"bank-of-cyprus-surpasses-2025-real-estate-sales-goal-ahead-of-schedule","status":"publish","type":"post","link":"https:\/\/www.lamaisonestates.com\/ru\/bank-of-cyprus-surpasses-2025-real-estate-sales-goal-ahead-of-schedule\/","title":{"rendered":"Bank of Cyprus Surpasses 2025 Real Estate Sales Goal Ahead of Schedule"},"content":{"rendered":"

The Bank of Cyprus has exceeded its full-year real estate divestment target months in advance, securing over \u20ac200 million in property sales during the first half of 2025, according to an article by Cyprus Mail<\/em>.<\/p>\n

Major Deal Sets New Record in Cyprus Real Estate<\/h3>\n

The standout transaction was the sale of the Secret Valley resort in Paphos\u2014formerly known as Venus Rock Golf Resort\u2014for more than \u20ac130 million. The buyer, Columbia Group, acquired the property after nearly four months of negotiations. The five-million-square-metre site was previously the largest real estate asset held by the bank\u2019s Real Estate Management Unit (REMU), obtained through loan restructuring related to Aristo Developers.<\/p>\n

The deal is the largest ever recorded in the Cypriot property market, marking a milestone for both REMU and the broader industry.<\/p>\n

Columbia Group: A Multinational Buyer with Local Roots<\/h3>\n

Columbia Group, based in Limassol and part of Schoeller Holdings, is a global player in shipping, hospitality, food service, aviation, and more. Its flagship, Columbia Shipmanagement, was founded in Cyprus in 1978 and has grown to operate over 300 vessels, employing around 15,000 people across 25+ global offices.<\/p>\n

The group\u2019s hospitality interests include the Columbia Beach Resort in Pissouri, while its food division, Columbia Restaurants, manages a portfolio of over 15 dining concepts including PizzaExpress, Marzano, and Pok\u00e9loha.<\/p>\n

Their aviation brand, Skyside, delivers private aviation and concierge services, reflecting the group\u2019s diverse and integrated approach.<\/p>\n

Additional \u20ac65 Million Sale Boosts Performance<\/h3>\n

The momentum continued with a second major sale: a 200,000 sqm plot in Geroskipou, sold for \u20ac65 million to a company affiliated with the international investment firm Exness. The land, previously acquired from Leptos Group through a debt-for-asset agreement, had been REMU\u2019s most valuable disposal until the Secret Valley deal closed.<\/p>\n

Together, the two transactions have pushed REMU\u2019s revenue well past the bank\u2019s 2025 sales target, part of a long-term plan to streamline operations and reduce exposure to real estate holdings.<\/p>\n

Strategic Progress on Portfolio Reduction<\/h3>\n

The Bank of Cyprus\u2019 initial goal for 2025 was to shrink its portfolio of repossessed real estate (REOs) to around \u20ac500 million by year-end. By March, REMU’s holdings had already fallen to \u20ac634 million, and after these two sales, the figure is expected to dip well below \u20ac500 million, effectively meeting the target months in advance.<\/p>\n

This forms part of the bank\u2019s broader deleveraging strategy, aimed at freeing up capital, lowering risk-weighted assets, and sharpening its focus on core banking services.<\/p>\n

Since 2019, REMU has successfully sold assets worth approximately \u20ac1.3 billion, with Q2 2025 marking a record quarter. In comparison, Q1 2025 saw \u20ac22 million in sales, down from \u20ac93 million in Q4 2024, although the unit still posted a \u20ac2 million profit, reversing the \u20ac4 million loss from the previous quarter.<\/p>\n

Solid Financials Back Growth Strategy<\/h3>\n

The bank\u2019s improved financial foundation has underpinned its real estate strategy. As of March 2025, its CET1 ratio stood at 19.9%, and its Total Capital Adequacy Ratio was 25%, both comfortably above regulatory minimums.<\/p>\n

In addition, non-performing loans continued to fall, with the NPL ratio declining to 1.8% of total loans. The group also posted \u20ac117 million in after-tax profit for Q1, supported by a strong return on tangible equity (ROTE) of 18.3%.<\/p>\n

Source: Cyprus Mail<\/em><\/p>","protected":false},"excerpt":{"rendered":"

The Bank of Cyprus has exceeded its full-year real estate divestment target months in advance, securing over \u20ac200 million in property sales during the first half of 2025, according to an article by Cyprus Mail. Major Deal Sets New Record in Cyprus Real Estate The standout transaction was the sale of the Secret Valley resort […]<\/p>","protected":false},"author":9,"featured_media":116361,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lamaisonestates.com\/ru\/wp-json\/wp\/v2\/posts\/116362"}],"collection":[{"href":"https:\/\/www.lamaisonestates.com\/ru\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lamaisonestates.com\/ru\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lamaisonestates.com\/ru\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lamaisonestates.com\/ru\/wp-json\/wp\/v2\/comments?post=116362"}],"version-history":[{"count":3,"href":"https:\/\/www.lamaisonestates.com\/ru\/wp-json\/wp\/v2\/posts\/116362\/revisions"}],"predecessor-version":[{"id":116365,"href":"https:\/\/www.lamaisonestates.com\/ru\/wp-json\/wp\/v2\/posts\/116362\/revisions\/116365"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.lamaisonestates.com\/ru\/wp-json\/wp\/v2\/media\/116361"}],"wp:attachment":[{"href":"https:\/\/www.lamaisonestates.com\/ru\/wp-json\/wp\/v2\/media?parent=116362"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lamaisonestates.com\/ru\/wp-json\/wp\/v2\/categories?post=116362"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lamaisonestates.com\/ru\/wp-json\/wp\/v2\/tags?post=116362"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}