Alpha Bank’s Bold Cyprus Expansion: €205 Million AstroBank Acquisition Sparks Growth

by News Editor

February 28, 2025

Alpha Bank is set to acquire AstroBank for a total of €205 million, significantly boosting its foothold in the Cyprus market.

This transaction will be carried out through Alpha Bank Cyprus Ltd, enhancing the Alpha Bank Group’s profitability prospects. It’s estimated that the acquisition will add over €100 million annually to recurring net profits. Furthermore, Alpha Bank anticipates a 5% boost in Earnings Per Share (EPS), a 60-basis-point rise in Return on Tangible Equity (RoTE), and a stellar 40% return on regulatory capital, making it a pivotal moment in its growth strategy.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Market Impact and Future Prospects

On completion, expected in Q4 2025 pending regulatory approvals, Alpha Bank Cyprus will command around 10% of the market share.

Cyprus’ promising economic landscape, with a real GDP growth projected to outpace the wider euro area, positions it as an attractive market for expansion. This acquisition underscores Alpha Bank’s dedication to cementing its presence in Cyprus.

Curious about Cyprus’ innovation landscape? Discover how Cyprus Seeds is driving regional innovation.

The Future Forbes Realty Global Properties

The Rocks Project Advances Through Licensing Process In Pentakomo

by THEFUTURE.TEAM

June 5, 2026

Overview Of The Ambitious Development

A large tourism development in Pentakomo is moving through the licensing process. Known as The Rocks Project, the proposal includes a hotel, villas, apartments and a beach club along the coast east of Limassol.

Strategic Location And Broader Impact

Located along the coastal corridor between Limassol and Zygi, the project would form part of the wider Governor’s Beach area. The site is situated near several state and energy infrastructure facilities, including the Evangelos Florakis Naval Base in Mari, making it subject to additional planning and regulatory considerations.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Master Plan And Key Infrastructure

Situated within the administrative boundaries of Pentakomo, the development is planned for the coastal area of Argaki Tou Mavrou. The project is being promoted by DRL5COMOS Properties Ltd and is supported by an environmental impact assessment prepared by P. Nikolaidis & Associates Ltd. The assessment is available for public consultation until July 3, 2026.

According to the master plan, operations are expected to begin in 2029. Plans include a 14,000-square-metre hotel with 126 rooms, a 900-square-metre spa and wellness centre, restaurants and dining facilities, 26 villas, 73 apartments and penthouses, and a 1,050-square-metre beach club with indoor and outdoor leisure areas. Parking facilities for 240 vehicles are also included in the proposal.

Integration With The Existing Landscape

The development plan allocates 12% of the site to public green space and includes an internal road network. Project documents indicate that several existing structures, including the Kalymnos Fish Tavern and current beach facilities, would be demolished as part of the redevelopment.

Regulatory And Institutional Considerations

The licensing process is ongoing and includes consultations with relevant local and government authorities. Comments submitted by the Ministry of Defence have not been made public due to the site’s proximity to the naval base. Those observations are expected to be reviewed by the environmental impact assessment committee during closed sessions.

Conclusion

With its carefully structured vision and strategic positioning, The Rocks Project promises to be a significant catalyst for economic and social growth in eastern Limassol. As it advances through the regulatory process, stakeholders remain focused on ensuring that this landmark development meets the highest standards of design, sustainability, and community integration.

Breaking news