Construction has begun on the first phase of the ambitious Land of Tomorrow project on the coastal site of the former oil refineries in Larnaca. Sales of luxury apartments will begin in August 2025. Under the leadership of Andreas Lefkaritis, head of the Petrolina Group, the project is being brought to life in collaboration with international developers BBF and the architectural firm Foster + Partners.
Millions invested and a unique concept
The first phase is estimated to cost €45 million. Unlike other coastal developments, it will not involve the construction of skyscrapers. Two buildings, one 11 stories high and the other 7, will be constructed 100 meters from the surf line within a picturesque 12,000 m² plot. The project's main idea is quality over quantity and the creation of a new lifestyle that combines nature, comfort, and world-class infrastructure.
Why did the project attract international investors?
According to Lefkaritis, investors from Israel, the United States, India, Germany, Austria, and Sweden have expressed interest in the Land of Tomorrow project. This is due not only to its unique location but also to the scale of the future development. The total cost of the project is over €800 million, and it will be implemented in stages along 2.5 km of coastline.
Green urban planning and the second development zone
The project pays particular attention to the environmental component. In addition to residential buildings, the 150,000-square-meter site, located just 200 meters from the sea, will feature offices, boutiques, restaurants, coffee shops, and green areas with 20,000 trees. This will create not just a neighborhood, but a modern, sustainable urban space.
Beginning of a new Larnaca
The Land of Tomorrow project is already being called a symbol of Larnaca's transformation. Thanks to a strategic approach to land development and collaboration with world-class architects and developers, Larnaca is solidifying its position as a leading destination for luxury real estate investment and urban development in the Eastern Mediterranean.