The Cypriot government has decided to separate the development of Larnaca’s port and marina projects following multiple failed attempts at unified development, Transport Minister Alexis Vafeades announced on Wednesday.
The government will prioritise upgrading the marina with three immediate projects costing €25-30 million, to be completed within three years.
“These upgrades will improve quality of life for residents and visitors,” Vafeades announced.
The projects include maintenance and expansion of the existing marina, construction of a landmark Yacht Club, and extensive landscaping.
The port’s development will proceed through a public-private partnership, though details remain unclear.
The decision comes after the collapse of a €1.2 billion unified development plan, previously touted as Cyprus’s largest-ever investment.
Vafeades said the government would gauge investor interest over the next three months before commissioning expert studies on future developments for both the marina and port.
The minister also announced an €18 million sustainable urban mobility plan for Larnaca and the expansion of a major avenue.
Local stakeholders expressed satisfaction with the government’s approach, which largely adopts proposals submitted by a city committee in July.
Source: Philenews