One of the most notable real estate transactions in Cyprus for 2025 took place in March. The building housing PwC Cyprus’s offices in Agioi Omologites, Nicosia, changed hands for €29.3 million. The buyer is Demetra Investment, while the seller was the Cyfield Group, which developed the property in 2015.
This deal has been recorded as the largest property sale of March 2025, according to the Department of Lands and Surveys, and ranks among the biggest transactions of the year across the island. AskWire data shows that out of the 50 highest-value property transactions recorded in March, this single deal accounted for nearly one-third of their total value.
Deploying liquidity from the Hellenic Bank sale
Demetra funded the acquisition with capital from one of the largest disposals in its history. On 24 November 2024, the company sold all 88,064,705 shares (21.33%) it held in Hellenic Bank to Eurobank, earning €426,497,366.32. This strategic move restructured Demetra’s investment portfolio by turning a long-term capital holding into liquidity, which is now being reinvested in stable income-generating assets, such as the PwC building. The sale also significantly boosted the company’s share value, with a nearly 50% increase over the year.
According to Demetra’s 2024 financial results, this acquisition is classified as a post-balance-sheet event and supports its strategy to strengthen its real estate presence. The company’s annual report states: “Subsequent to the balance sheet date, the Company acquired a significant commercial property in Nicosia,” referring to this very transaction.
Stable returns from a prime asset
The landmark eight-storey building was completed in 2015 by Cyfield and designed with best practices in energy efficiency and functionality. It features modern offices, large communal areas, underground parking, and advanced building management systems. From the outset, it has served as a reference point for business activity in the capital.
According to Economy Today, Demetra Investment views this purchase as a long-term, stable investment. The property is fully leased to one of the most creditworthy organisations in Cyprus and is situated in one of Nicosia’s most desirable and rapidly developing areas. Its return is expected to remain consistent, with a positive impact on Demetra’s annual revenue.
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Source: Xenios Mesaritis – Economy Today
