Top 10 investable projects: Neapolis Smart EcoCity, Paphos
Project overview
Neapolis Smart EcoCity is an ambitious greenfield development that will establish a “smart city-within-a-city” on the outskirts of Paphos, Cyprus, just a 10-minute drive from the international airport.
Spanning 888,000 sq m, with 570,000 sq m of net buildable area, the project is a mixed-use masterplanned development integrating residential, commercial, educational, healthcare, and leisure facilities.
The vision is to create a sustainable, tech-enabled urban environment, offering approximately 4,000 residential units, alongside a university, hospital, schools, retail and leisure parks, corporate office spaces and extensive green areas.
The opportunity
The project presents a unique investment opportunity to participate in a world-class smart city development. Initial funding will be secured through equity investment and offplan sales, followed by debt financing. Investors will have early access to a high-growth, strategically located urban expansion project, designed to attract businesses, residents, and institutions, creating long-term economic value.
The financials
The total development cost is projected at €1 billion (excluding land), with an estimated €1.95 billion gross development value (GDV) upon completion. A €100 million equity investment, alongside offplan sales and bank debt, will finance the majority of the project, with dividend distributions expected from Year 4 onwards.
Bank financing has already been secured for part of the initial infrastructure works, ensuring financial stability in the early phases.
Project sponsor
The project and land are 100% owned by the Leptos Group, Cyprus’s premier real estate developer with a proven track record spanning six decades.
Significance
As a pioneering smart city initiative, the development embraces sustainable urban planning, advanced infrastructure, and green technologies to enhance livability, connectivity, and environmental resilience.
The integration of state-of-the-art residential, educational and healthcare facilities, combined with corporate and leisure spaces, positions the project as a hub for innovation, economic activity, and modern urban living. With Cyprus experiencing strong real estate demand and continued foreign investment, this development is set to be a key driver of regional growth.
The pitch
With a prime location in Paphos, strong government support and a fully masterplanned, mixed-use design, this smart city project represents a viable investment opportunity in Cyprus’s expanding urban landscape.
Backed by a leading developer, secured financing and early-stage approvals, the project is primed for success. Investors can capitalise on potentially high returns, sustainable growth and a transformative urban vision, making this a compelling, future-ready real estate opportunity.
