Breaking news

Logicom Boosts Investment In Demetra Holdings With New Share Acquisition

On April 7, 2025, Logicom Services Limited announced a strategic move to enhance its investment portfolio by purchasing an additional 16,456 shares in Demetra Holdings Plc at €1.55 each. This acquisition raises Logicom’s ownership to a solid 38.5% of Demetra’s total issued share capital and voting rights, according to a filing with the Cyprus Stock Exchange.

The Financial Impact

The transaction’s total value is €25,506.80, which consolidates Logicom’s holding to 77,000,909 shares in the investment firm. This decision is in compliance with the Public Takeover Bids Law of 2007 to 2022, underscoring Logicom’s commitment to bolstering its asset base.

The Bigger Picture

This strategic move aligns with broader trends in the investment arena, where firms like insurers are diversifying their portfolios to enhance returns. It also comes amidst significant economic developments, such as the potential lift of the Cyprus Arms Embargo, which may affect regional investments.

The Rocks Project Advances Through Licensing Process In Pentakomo

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.

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.

Uol
eCredo
Aretilaw firm
The Future Forbes Realty Global Properties

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter