The first five months of 2026 reveal intense construction activity in Cyprus, with nearly €110 million in public contracts concentrated among five major corporate players.

Construction activity and capital concentration in strategic sectors

• Which companies "gathered" the money from public contracts

The first five months of 2026 are characterized by intense construction activity, but also an impressive concentration of capital in strategic sectors. The analysis of official data on public contracts for the period January – May 2026 reveals a market "thirsty" for infrastructure projects, with ten well-known groups sharing the lion's share of a turnover exceeding 100 million euros.

The Primacy of Sychem

The battle against drought is also reflected in the numbers. SYCHEM SA occupies the first place in the table of contractors, securing contracts of a total value of €29,955.175. The cornerstone of this top ranking is the temporary desalination unit of Episkopi, a €29.8 million project which constitutes the largest individual technical project of the period, proving that the water shielding of Limassol is a state priority.

Environment and "Green" Transition: The Bet of CYFIELD 

In the second place of the list we find CYFIELD Engineering and Contracting Public Limited, with contracts amounting to €26,900.000. The entire amount is directed to a project of particular environmental importance, the rehabilitation of uncontrolled waste disposal sites (XADA) in Vati and eight other locations in the Limassol district. This is an investment that contributes to the definitive closing of the chapter of uncontrolled landfills, confirming the state's turn toward environmentally responsible contracting.

University Campus: The Investment in Knowledge

CYBARCO LIMITED follows in third place, having secured projects worth €23,173.002. At the center is Phase B’ of the infrastructure works at the University Campus of the University of Cyprus. This amount is directed entirely to academic infrastructure and underlines the country's commitment to strengthening higher education and research.

The Social Dimension of Construction

A. ARISTOTELOUS CONSTRUCTION LTD, with a total contract value of €15,369.252, emerges as a key player in social infrastructure. With two emblematic projects, the upgrade of the Neonatal Intensive Care Unit at Makario Hospital (€8.3 million) and the construction of social housing in Pano Polemidia (€6.9 million), the company connects construction work with social welfare and quality of life.

The High Position of Medicine

Special mention is deserved for C.A. PAPAELLINAS LTD. Although in terms of the number of contracts it holds second place with 32 awards, in total monetary value it ranks fifth with €14,039.212.

This image highlights an interesting trend: while technical projects dominate in absolute value per contract, the pharmaceutical sector maintains its momentum through continuous high-cost supplies. A characteristic example is the procurement of the drug Aranesp, worth €6 million.

With these five players gathering nearly €110 million in a period of just five months, it becomes clear that the Cypriot economy is investing in critical infrastructure. The resulting picture is that major contracts do not exclusively concern public works, but touch upon the daily lives of citizens, from water adequacy and environmental protection to health, housing, and education. 

Source: Brief