Columbia Group Launches €1bn Resort Development Following Landmark Acquisition

Strategic Acquisition Sets the Stage

The Columbia Group, a leading international Cypriot enterprise, has secured the Secret Valley resort in a deal worth over €130 million. Finalized after nearly four months of rigorous negotiations with Bank of Cyprus’ real estate management unit, this transaction marks the largest property sale recorded on the island, fundamentally reshaping the local real estate landscape.

Ambitious Development Blueprint

Formerly known as Venus Rock Golf Resort, Secret Valley encompasses approximately five million square metres of prime coastal land between Limassol and Paphos, adjacent to Aphrodite Hills. With an 850-metre beachfront offering direct access to both Paphos International Airport and Larnaca Airport, the property provides an exceptional strategic advantage for luxury tourism. The development plan by Columbia Group includes a luxury five-star hotel and beach club, approximately 3,000 residences—both villas and apartments—with expansive sea views, a new 18-hole golf course that complements the existent facility, and a small marina for leisure boats.

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Comprehensive Infrastructure Development

Supporting the ambitious resort expansion, a desalination plant is underway to secure water self-sufficiency, while additional commercial and leisure facilities such as a shopping center, restaurants, and retail zones promise to create a complete, self-contained community. This multi-faceted project not only aims to leverage the full spectrum of existing development permits but also stands as a testament to the Cypriot market’s capacity to absorb large-scale real estate investments.

Market Impact and Strategic Vision

Columbia Group, known for its robust presence in shipping, tourism, and real estate, already operates the Columbia Resort in Pissouri. The acquisition of Secret Valley—personally selected by Chairman Heinrich Schoeller for its strategic importance—aligns seamlessly with the group’s long-term development strategy. This development is poised to not only elevate the island’s standing as a premier destination for luxury and golf tourism but also reinvigorate investor confidence in Cyprus’ real estate sector.

The Future Forbes Realty Global Properties

Cyprus-Based ASBIS Hits Record $1.05bn In Monthly Revenue, Up 216% Year On Year

by News Editor

October 21, 2026

The technology distributor ASBIS Group, headquartered in Limassol, has exceeded $1 billion in monthly sales for the first time in its history, reporting preliminary consolidated revenue of $1.05 billion in September 2026, more than three times the amount recorded a year earlier.

The figure represents a 216% increase from $332 million in September 2025, making it the highest-revenue month in the company’s history.

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ASBIS reported its strongest sales growth in servers and server components, while CEO Serhei Kostevitch pointed to growing demand for artificial intelligence solutions and computing infrastructure as an opportunity for the business.

For a company operating across Europe, the Middle East and Africa, September marked a new sales milestone following several months of substantial year-on-year growth.

Kostevitch attributed the record performance to the group’s existing operations, highlighting its broad product portfolio, international market presence and strong relationships with manufacturers and trading partners.

“Most importantly, this result is the outcome of our regular operating activities,” he said.

The CEO also highlighted the company’s portfolio of projects as a reason for confidence in continued AI-related development.

However, the group’s growth was not limited to AI-related technologies. Smartphones also performed strongly in September, with Kostevitch stressing that “we are growing beyond the AI segment as well.”

Kazakhstan, the United Arab Emirates and Ukraine accounted for the largest shares of ASBIS’s September revenue, followed by Slovakia and Poland.

Growth Follows Record First Half

September’s results follow a period of strong financial performance for ASBIS.

In July, the company reported preliminary consolidated revenue of $531 million, an increase of 89% compared with the same month in 2025. August brought a further rise to $604 million, up 91% year on year.

September’s $1.05 billion figure represents a substantial increase on both months, although the company has not provided a detailed breakdown explaining the acceleration.

The results also follow a record first half of 2026, when ASBIS generated approximately $2.97 billion in consolidated revenue, up 76% year on year.

Net profit after tax reached $80.6 million, compared with $19.4 million in the same period in 2025.

The second quarter was particularly strong, with revenue reaching $1.69 billion, an increase of 78.7%, while quarterly net profit more than tripled to $44.3 million.

ASBIS has emphasised that its September revenue figures are preliminary estimates and may differ from the final reported results.

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