Exness Buys Land Worth EUR75 Million from Bank of Cyprus
Exness is reported to have acquired a property by purchasing land worth €75 million in Paphos from Bank of Cyprus. Although not officially confirmed yet, insiders suspect that this extensive land has the potential to be developed into the Exness Campus.
The forex broker Exness has reportedly acquired land in Paphos, Cyprus. According to Khatimmerini Cyprus, the social trading broker purchased a 200,000 square meter plot of land from the Bank of Cyprus for a whopping €75 million!
The Paphos property was previously transferred to the Real Estate Management Unit (REMU) of the Bank of Cyprus through a debt-to-asset swap with assets from the Leptos Group. Furthermore, this sale to Exness marks REMU's most expensive asset sale since 2016! This significant transaction will significantly reduce Cyprus Bank's property portfolio, currently standing at €575 million, a drastic drop from the previous €1.6 billion.
Although the forex broker Exness has not officially confirmed the transaction or disclosed its intentions for the large plot of land, internal sources are rife with speculation.
It is reported that the acquisition of the land may be used to develop the "Exness Campus" in the future, potentially accommodating the growing staff or providing employee housing. The location is also strategically located, only a 40-minute drive from the main Exness office in Limassol. This shows a long-term vision for expansion and employee well-being.
Exness has already proven itself as one of the top forex brokers globally, with very high trading volumes. However, it should be noted that the company stopped publishing its trading volumes last year and also its retail trading services in Europe.
On the contrary, based on the latest Exness forex broker news, Exness is now focusing on the emerging market, so significant investment in Cyprus is becoming more attractive as they continue to expand their global presence.