Development plans for Larnaca former oil refinery site submitted

Petrolina (Holdings) Public Ltd has submitted an Environmental Impact Assessment Study for the 'Land of Tomorrow' project, a major redevelopment of the former oil refinery site in Larnaca. The project, with a total budget of €533 million, covers a coastal area of 298,342 square metres. Following subdivision, the net plot area is expected to be 234,970 square metres, with a total floor space of 387,345.94 square metres. The master plan proposes a mixed-use development comprising residential units, offices, commercial shops, and leisure facilities. Additionally, the project includes two hotels—an urban hotel with a conference centre and a luxury unit. Future phases of the planning permit process are expected to incorporate cultural elements, such as a museum and art galleries. A specific agreement with the Larnaca Municipality has been established for the consolidation of community facilities, including the allocation of 4,245 square metres for municipal purposes.