After several years of uncertainty, the Cypriot authorities have approved a new strategy for the redevelopment of Larnaca Port and Marina. According to the proposed plan, approximately €415 million will be invested in modernizing the area, with the project to be implemented in phases over the next two decades. Once completed, the redevelopment is expected to transform the city's waterfront and establish Larnaca as one of the most modern coastal hubs in the region.
The Largest Investment Will Go into the Port
The most expensive phase will be the modernization of the port itself, with an estimated budget of around €205 million and completion scheduled by 2045. During the initial stage, specialists will renovate existing facilities, upgrade utility networks, procure modern equipment, and construct new administrative and passenger buildings. The largest phase, planned for 2036–2045, will include the construction of new quays, a modern harbor basin, and an additional lee breakwater, allowing the port to handle larger vessels and significantly increase its capacity.
According to experts, the redevelopment will strengthen Larnaca's position as one of the Eastern Mediterranean's key transport and logistics hubs.
The Marina Will Be Transformed into a Modern Tourist District
The second phase, valued at approximately €190 million and scheduled for 2027–2036, focuses on the redevelopment of the marina and the surrounding land. The initial stage includes upgrading existing public spaces, constructing new roads, utility networks, parking areas, and green spaces. Plans also call for relocating the boatyards from the marina to the northern section of the port, allowing the waterfront to be used more efficiently.
Once the infrastructure has been completed, commercial real estate development will begin in accordance with the new urban master plan. The area is expected to feature hotels, restaurants, office buildings, retail space, and a modern conference center. Most of the investment in this phase is expected to come from the private sector. The expanded tourism infrastructure is anticipated to significantly enhance Larnaca's appeal to international investors, yacht owners, and visitors traveling throughout the Mediterranean.
A further phase, worth approximately €20 million, will focus on upgrading the marina itself. Planned works include renovating the existing infrastructure, constructing new service buildings, and extending the lee breakwater with a new southern quay wall. These improvements will provide better berthing conditions for leisure and private vessels while enhancing operational safety.
Why the Port and Marina Will Be Developed Separately
The new strategy was introduced following the termination in 2024 of the concession agreement with Kition Ocean Holdings, which had previously been responsible for the integrated redevelopment of the site.
Following the termination, the Cypriot government decided to separate the redevelopment of the port and marina into two parallel projects. According to the Minister of Transport, Communications and Works, Alexis Vafeades, this approach will help avoid further delays while allowing both projects to progress under a unified development strategy. At the beginning of 2026, the Cyprus Ports Authority assumed responsibility for managing both facilities and was tasked with preparing a long-term redevelopment plan.
The new concept is based on the principles of the so-called "blue economy," which promotes the sustainable use of marine resources for economic growth. In recent years, the European Union has actively supported such projects because they contribute to the development of port logistics, yachting, cruise tourism, and coastal businesses. Once the redevelopment is complete, residents and visitors will enjoy uninterrupted public access to the seafront between the port and the marina, while the entire area will become a new urban destination featuring promenades, cultural venues, and modern tourism infrastructure.
What Must Be Done Before Construction Begins
Before major construction works can begin, the government must complete several organizational steps. These include transferring land ownership to the Cyprus Ports Authority, terminating the existing port lease, officially designating the area as a port zone, and amending the legislation governing marina operations.
The authorities emphasize that both the port and the marina will remain fully operational throughout the redevelopment process. The project will be financed through a mixed model: the government will fund core infrastructure and retain strategic control of the facilities, while commercial real estate and tourism projects will be developed primarily by private investors. This approach will allow the area to be modernized gradually without disrupting operations, while simultaneously attracting new investment to the economy of Larnaca and Cyprus as a whole.