Major development boom underway in Larnaca's Livadia district

The Livadia district in Larnaca, now a municipal unit of the city, is undergoing a period of intense construction activity following the relocation of oil storage tanks. This relocation released a three-kilometre stretch of coastal land, where planned investments are now projected to exceed €1 billion. While local authorities identified approximately €130 million in potential investments in March 2024, the scope of development has since expanded significantly to include large-scale residential and mixed-use projects across the wider area.

Key developments include the Horizon Towers project by SLK, a €200 million initiative currently nearing the licensing stage by the Larnaca District Self-Governance Organisation (EOAL). The project is set to feature six towers comprising 528 residential units. The capital for these high-value projects is largely sourced from Israeli, Lebanese, Iranian, and Ukrainian investors, while local Cypriot firms handle the construction of numerous apartment complexes. The area, formerly characterized by reed beds, is now seeing rapid urbanization with further projects awaiting final permit approvals.