Larnaca welcomes major seafront development

A €40 million beachfront development project in Larnaca has been conditionally approved, backed by Israeli investment. The plan includes the construction of two 15-storey towers featuring residential units, 155 parking spaces, a swimming pool, gym, spa, roof gardens, and public green areas. The buildings will be located near the Varosioti roundabout, in Larnaca’s northern coastal area.

Approval is subject to environmental conditions, including land reclamation to address coastal erosion, as nearly 40% of the plot has been affected. Developers will also be required to monitor the coastline for at least six months, including during winter months.

This project comes amid growing interest from foreign buyers, particularly Israelis, in Cyprus real estate. While some view the investment as positive for the economy, concerns have been raised about large-scale property purchases and their potential impact on local communities. Recent public discourse has highlighted the need for balanced and respectful dialogue around foreign ownership and development in the country.