Cyprus Business Now: real estate, banks, tourism, maritime, petroleum sales
For an island nation with a small, service-based economy, the future of sustained prosperity hinges on a simple, irrefutable premise: large-scale, high-quality capital investment must cease to be viewed as a discretionary luxury and must, instead, be embraced as the fundamental engine of national competitiveness.
The global evidence is overwhelming, pointing to a massive, worldwide investment chasm that requires proactive national policy to bridge. McKinsey estimates that the world needs to invest a cumulative $106 trillion in infrastructure alone through to 2040.
In this global race for capital, Cyprus must distinguish itself not just as a stable location, but as a strategic gateway committed to future-proofing its economy through projects of genuine scale and consequence.
According to new data from Hermes Airports, a total of 10.7 million passengers travelled through the island’s two international airports between January and September, 7.7 million through Larnaca and 3 million through Paphos.
For the sixth consecutive month, air traffic across Cypriot airports remained above one million passengers in September alone.
Larnaca Airport handled 1.1 million passengers, compared to 1 million in the same month last year, while Paphos Airport reached 434,900 passengers, up from 401,600 a year earlier.
By comparison, in September 2019, before the pandemic, Larnaca Airport recorded 982,300 passengers and Paphos 341,900, illustrating the strong post-pandemic recovery of Cyprus’ aviation sector.
“Our vision is for Cyprus to become a leading maritime tourism hub in the Eastern Mediterranean and the Middle East,” the President said during the opening ceremony.
He noted the sea’s strategic importance for the Cypriot economy and reaffirmed the government’s determination to promote innovation, investment and international partnerships in the blue sector.
Co-organised by the Deputy Ministry of Shipping, Ayia Napa Marina, and Boat Advisors, the festival officially launched a multi-day programme celebrating shipping, maritime tourism and sustainable development.
In its Monetary and Financial Statistics, October 2025, the CBC said total deposits increased by €670.2 million, compared with a modest rise of €44.3 million in August.
The annual rate of change reached 6.3 per cent, up from 6 per cent a month earlier, bringing the total balance of deposits to €57.2 billion.
The CBC clarified that the terms ‘net increase’ and ‘net decrease’ refer to transactions only, excluding any effects from reclassifications, exchange rates or other adjustments.
Deposits held by Cypriot residents grew by €456.6m, driven primarily by a €397.2m rise in deposits of non-financial corporations.
The total sales of petroleum products in Cyprus increased by 11.2 per cent in September, when compared with the same month in 2024, the state statistical service (Cystat) announced on Monday.
Total sales for September 2025 reached 144,720 tonnes, driven by a significant rise across several categories.
The most dramatic increase was seen in the provisions of marine gasoil, which shot up by 112.3 per cent year-on-year.
Aviation kerosene provisions also saw a substantial increase of 16.8 per cent.
On the road and construction fronts, sales of asphalt rose by 29.7 per cent, while sales of liquefied petroleum gases increased by 9.1 per cent.
The investment firm raised its price target for NBG to €15.50 from €13.55 and for Eurobank to €4.15 from €3.70, maintaining a “Buy” recommendation on both lenders.
Jefferies said the two banks are entering the final quarter of 2025 with strong momentum, underpinned by robust capital adequacy, predictable profitability, and improved funding conditions.
The firm added that lower financing costs are enhancing shareholder return potential, as both institutions continue to demonstrate resilience and operational strength.
“The licensing directorate of EOA Limassol is consistently and professionally continuing its work to facilitate development in the city and district of Limassol, while simultaneously ensuring transparency and the protection of public interest,” the announcement mentioned.
“Since the commencement of operations for the District Development Organisations in July 2024, EOA Limassol has achieved significant progress in managing licensing applications,” it added.
Specifically, the organisation said that approximately 50 per cent of the 8,500 pending applications received upon its establishment had been processed by September 2025, with about 900 development applications being examined and completed each month.
The bank successfully priced the €500 million green bond with a coupon of 3.125 per cent and a final yield of 3.202 per cent, after receiving orders exceeding €3 billion through an international book-building process.
The transaction, completed with extraordinary success, was more than six times oversubscribed, underscoring the depth of investor confidence in Alpha Bank’s renewed financial standing and strategic direction.
The bond has a maturity of six years with an option for early redemption after five years, reflecting the bank’s flexibility in its funding strategy.
According to a filing on the Cyprus Stock Exchange (CSE), the repurchase was carried out through Cyprus Investment and Securities Corporation Ltd (CISCO) and executed on October 24.
Moreover, the latest share buyback was authorised at the annual general meeting held on June 24, 2025, as was the case with previous purchases of the company’s own shares.
In addition, the purchase was executed in several tranches. The first tranche involved 4,145 shares, the second 388 shares, the third 388 shares, the fourth 79 shares, and the fifth one 2,800 shares. All tranches were carried out at the uniform price of 1.64 cents.
Demetra Holdings confirmed that the transaction complies with the regulations of the Cyprus Stock Exchange and the circulars of the Cyprus Securities and Exchange Commission.