A landmark Cyprus real estate sale exceeding €130 million has been finalised, marking the largest property transaction ever recorded on the island. The iconic Secret Valley resort- formerly known as Venus Rock Golf Resort- has officially been acquired by the Columbia Group from the Bank of Cyprus’ real estate unit REMU.
Spanning approximately 5 million square metres near Paphos, the expansive coastal site includes 850 metres of seafront and offers extraordinary development potential. The deal was concluded after four months of negotiations and reflects strong investor confidence in Cyprus’ luxury property market.
The buyer, Columbia Group, is a Cyprus-based international company active in shipping, tourism, and real estate. According to sources, group chairman Heinrich Schoeller personally selected the Secret Valley site for its strategic value and future potential. Columbia already owns the luxury Columbia Resort in Pissouri and is expected to apply its hospitality expertise to transform the area into a premium destination.
What’s planned for Secret Valley
The master plan for the site includes:
- A 5-star beachfront resort with an exclusive beach club
- Up to 3,000 high-end residential units, including luxury villas and apartments
- A second 18-hole international golf course to complement the existing Secret Valley course
- A boutique marina for private yachts
- Supporting infrastructure such as a desalination plant and green open spaces
- A retail and entertainment centre with restaurants and shops
If completed as planned, the development is expected to exceed €1 billion in value, positioning it among the largest luxury coastal complexes in Europe.
A strategic move for both parties
For REMU, the Cyprus real estate sale represents a significant success- the Secret Valley was the largest asset in its portfolio, acquired after the restructuring of loans from Aristo Developers. This transaction not only frees up substantial capital but also demonstrates that Cyprus’ property market can absorb high-value assets.
For Columbia Group, the acquisition builds on its proven track record in high-end tourism and development. The company is expected to leverage its experience from Columbia Resort to guide the future of Secret Valley.
The project promises to reshape the tourism and real estate landscape in Cyprus, transforming a dormant asset into a vibrant, multi-purpose luxury hub.
Also read: Greece’s real estate sales and rental prices are slowing down
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