“Our expansion overseas helped us to appreciate Cyprus more,” George Chrysochos, the Executive Director of Cyfield, said, addressing audiences at Inspire Festival 2026.
Speaking as part of a panel entitled ‘Born Local. Built Global.’, which was hosted at the Beyond Borders stage, Chrysochos underlined that expanding beyond Cyprus had been crucial.
“We had our expansion overseas in three phases: 1996 for political reasons after the events involving Solomos Solomou and Tassos Isaac in Derynia,” he explained, noting that the events led his father to decide to establish a presence in Greece, where Cyfield has continued to have a presence ever since.
“The second time was in 2013 due to the financial crisis. For two years, the government did not carry out any projects. So we expanded into the Middle East,” he continued.
While the company focused on land developments in Greece and the Middle East, emphasis was put on contracting work.
“A decade later, the third time we expanded overseas was when we realised that a fish will only grow as much as its bowl allows it to. When a company stops growing, it closes. So we expanded to the UK and USA,” Chrysochos noted.
“The difficulties, in Greece for example, include differences in legislation,” he continued, explaining that, while in Cyprus legislation in this sector changes little irrespective of which political party is the governing one, “In Greece when the government changes, everything changes.”
He also suggested that business ethics in Cyprus were generally at a higher standard than in Greece.
“In the Arab world, the way they operate their businesses can also be difficult for us. In Egypt, for example, it is not the courts that may decide over a dispute, it is the army,” he pointed out.
In London, meanwhile, Chrysochos said the company had been shocked by the over-regulation, joking, “We are wrong to complain about the regulations in Cyprus.”
Closing, he said, “We appreciated Cyprus more following our expansion overseas.”
The discussion was moderated by George Angastiniotis, Chief Editor at InBusinessNews.
Strategic Partner: CYTA Business
Platinum Sponsor: Bank of Cyprus
Innovation Partner: Ίδρυμα Έρευνας και Καινοτομίας/Research and Innovation Foundation
Gold Sponsors: Cyfield Group, Zorbas Group
Silver Sponsors: Bioland Energy, Petrolina (Holdings) Public Ltd
Stage Sponsors: Invest Cyprus - CIPA, KPMG Cyprus, National Bank of Greece, Odyssey Cybersecurity
Academic Partner: University of Nicosia
Mobility Partner: Pilakoutas Group
Sustainability Partner: Electricity Authority of Cyprus
Hospitality Sponsor: Hilton Nicosia
Sponsor: IMR/UNIVERSITY OF NICOSIA, Αρχή Ανάπτυξης Ανθρώπινου Δυναμικού - Human Resource Development Authority of Cyprus, Henry’s by Columbia, 33East
Panel Sponsor: Allwyn Cyprus
Technology Sponsor: Abasis.AI
Wellbeing Partner: wayfitco.
Supporting Organisations: National Betting Authority, SkillsCyprus
Exhibitors: drastyc, Emphasys Centre, Giorgio Armani, Factorial, GrantXpert Consulting Ltd, onlyseo., Photos Photiades Breweries, Wolt, Bank of Cyprus Nicosia Marathon
Supporters: Cloud Office, CP Herbal Skin Care, Farm Wisely Cyprus, Chr. Kapodistrias & Sons Ltd, Superhome Center, Alphamega Hypermarkets
Mimajo Healthy Snacks Ltd, Robura Asset Management, University of Limassol, Voici la Mode Group of Companies
With the Support of: Cyprus Computer Society, CITEA, CCCI, CPMA, OEB, Youth Board of Cyprus, TechIsland, StudentLife Academy, CSR Cyprus
Communication Sponsors: SuperFM, REPORTER, IN Business, Cyprus Business News, Alpha TV
Organiser: IMH
Under the Auspices: Nicosia Municipality
