Exness Buys Cyprus Land in €75 Million Deal

Exness buys Cyprus land in €75 million deal, signaling potential expansion and strategic infrastructure development plans. A leading retail trading firm, Exness, has reportedly purchased a large parcel of land from the Bank of Cyprus for €75 million, as per a report by Kathimerini Cyprus. The land, located in Paphos, spans approximately 200,000 square metres.

Exness Buys Cyprus Land for Potential Campus Development

While Exness has not officially confirmed the transaction or disclosed its intended use of the property, the report—citing anonymous sources—suggests the acquisition could be part of the broker’s “backup plan.” The firm may consider establishing an “Exness Campus” on the site, potentially to accommodate its staff or provide employee housing.

Exness also considers the land’s location strategically beneficial, as it is just a 40-minute drive from its main office in Limassol.

Exness has steadily positioned itself as one of the world’s top forex and contracts for differences (CFDs) brokers by trading volume—a figure often linked to a broker’s revenue. However, the firm ceased publishing its trading volumes publicly last year.

Although Exness built its reputation by offering retail trading services across Europe, it has since withdrawn from that segment, shifting its focus toward emerging markets.

Bank of Cyprus’ Real Estate Portfolio Shrinks

The Leptos Group originally transferred the Paphos land to the Bank of Cyprus’ Real Estate Management Unit (REMU) through a debt-to-asset swap, linked to the halted “Neapolis Smart EcoCity” initiative.

The sale to Exness marks the most expensive asset transaction completed by REMU since its establishment in 2016.

Following this deal, the Cypriot bank’s real estate portfolio now stands at €575 million—significantly reduced from its previous €1.6 billion valuation, according to local media.

In a related development, Paphos Mayor Phedonas Phedonos recently claimed that certain Cyprus-based forex companies launder drug money through intricate shell company structures in Latin America. These allegations led the Cypriot financial regulator to issue a clarification regarding its jurisdiction over foreign activities. It is important to note, however, that there is no link between the mayor’s statements and the recent Bank of Cyprus land sale to Exness.

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