Israeli investments in Cyprus reach 5.1 billion euros

An investigation by Al Jazeera, based on Central Bank of Cyprus data, reveals that Israeli investment stock in Cyprus reached 5.1 billion euros by the end of 2024. This figure represents more than a sixfold increase compared to 2017 levels. The capital is concentrated in the water, energy, health, real estate, and finance sectors.

In the water sector, the Israeli state-owned company Mekorot, through a partnership with Netcom, manages approximately 40 percent of the total desalination capacity in Cyprus. This includes operations at two of the island's five permanent desalination plants in Larnaca and Episkopi. Additionally, Mekorot signed a memorandum of understanding with the Nicosia Regional Water Board regarding water and sewage management.

In the energy sector, the Israeli-based NewMed Energy holds a 30 percent stake in the Aphrodite natural gas field, alongside partners Chevron Cyprus Limited and BG Cyprus Limited. In defense, the Cypriot administration has begun procuring Barak MX air defense systems from Israel Aerospace Industries to replace Russian-made systems.