In one of the largest real estate transactions ever recorded in Cyprus, Columbia Group has acquired the Venus Rock Golf Resort in Paphos — also known as Secret Valley — from Bank of Cyprus’s Real Estate Management Unit (REMU) for €132 million. The historic deal was signed on June 30, following nearly four months of negotiations, and cements Columbia’s ambitions to expand further into luxury tourism and real estate on the island.

The sprawling property, covering approximately 5 million square meters with 850 meters of beachfront, ranks among the most prominent land parcels in the eastern Mediterranean. Strategically situated between Limassol and Paphos, and just minutes from Paphos International Airport, the resort includes an 18-hole golf course and holds licenses for a wide range of future development opportunities.

For REMU, this transaction marks a major milestone in its strategy to drastically reduce real estate holdings and free up capital for its core banking operations.

Columbia, already an established player in Cyprus’s shipping, hospitality, and education sectors, currently operates the Columbia Beach Resort in Pissouri. With the acquisition of Venus Rock Golf Resort, the group plans to leverage its expertise to redevelop Secret Valley into one of Europe’s premier coastal residential and tourism destinations.