Optimism Prevails at Property Show Larnaka 2024
At the Property Show Larnaka 2024 conference, the air was thick with anticipation and confidence as the Larnaca Chamber of Commerce and Industry (EBEL), alongside local businessmen and stakeholders, addressed the future of the city’s development. Despite concerns that the €1.2 billion investment in the marina and port hangs in balance, the recent construction surge and forthcoming investments signal a robust development trajectory for Larnaca.
With a strong turnout, the conference showcased 20 land development experts discussing upcoming projects and Larnaca’s allure for international investors. Dr. Nakis Antoniou, President of EBEL, echoed the Minister of Transport’s assurance that the port and marina redevelopment is a priority, stating, “The development of our city will not stop here but will continue with the creation of the major project of the port and the marina.”
Larnaca’s Mayor contributed to the optimistic tone by highlighting planned projects worth €100 million, further cementing the city’s growth prospects. Business figures active in Larnaca also shared insights into significant investments on the horizon.
One such investment is the Petrolina Group’s ambitious Larnaka-Land of Tomorrow project, poised to exceed €1 billion. Andreas Lefkaritis, head of sales at Petrolina Group, shared plans to transform 450,000 sqm of land, previously occupied by oil tanks, into a vibrant extension of Larnaca city.
Additionally, major developments are in the pipeline from Patroklos Group and Quality Group, with the latter having recently completed significant hotel units. These initiatives are part of a broader building boom that underscores the city’s positive development prospects.
Larnaca stakeholders remain hopeful that with these investments and the continued interest from foreign investors, the city is set to enter a new era of prosperity and growth, underlining the importance of the marina and port redevelopment as a cornerstone for future expansion.
