Eurobank Takes Command with Over 98% Stake in Hellenic Bank

by News Editor

April 11, 2025

In a significant corporate development, Eurobank recently completed its mandatory public offer to significantly increase its stake in Hellenic Bank, now owning a substantial 98.46% of the bank’s issued share capital. This move follows the public offer, which closed on April 9, 2025, adding 4.99% to Eurobank’s previous 93.47% stake.

Over the coming months, Eurobank plans to exercise its squeeze-out right, aiming for full acquisition. As outlined in their takeover announcement, the bank intends to acquire all remaining shares at a price of €4.843 each.

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This transaction, completed with Cyprus Investment and Securities Corporation Limited (CISCO) serving as the advisor and underwriter, is set to reshape the Cypriot banking landscape, aligning with broader trends in regional economic transformations.

Upon completion, Eurobank’s acquisition will mark a pivotal moment in Cyprus’ financial scene. The increase in ownership follows regulations under the Public Takeover Bids Law, ensuring compliance throughout the process.

The acceptance rate for this takeover bid stands at 4.989%, with attention to final verification potentially leading to minor adjustments. Stay tuned as we monitor this significant acquisition and consider its implications for the dynamic Cypriot market.

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.

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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.

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