The large-scale transformation of Larnaca’s new coastal area continues to gain momentum. The first phase of construction of the Horizon Towers – Riviera Living residential complex has begun. The project will become one of the largest residential developments on the east coast of Cyprus and forms part of the large-scale redevelopment of the former oil storage area and the future Larnaca marina.
Permit granted and construction already underway
SLK Development announced that on 31 July 2026, the Larnaca District Local Government Organisation (EOA) issued the planning permit for the first phase of the project. Construction has already begun in Livadia, which is currently considered one of the fastest-growing areas of Larnaca. The first phase of the project includes:
- two 20-storey residential towers;
- 198 premium apartments.
Once all phases are completed, the complex will comprise 530 residential units. In addition to the residential towers, the project includes a separate six-storey mixed-use building that will house restaurants, cafés, modern office spaces and a luxury SPA complex.
Livadia becomes a new development hub in Larnaca
Livadia is experiencing an unprecedented construction boom following the relocation of the oil storage facilities, which freed up around 3 km of coastal land for new development. A new urban district with modern residential, commercial and tourism infrastructure is now taking shape in the area. According to local authorities, total investment in the development of the new coastal zone could exceed €1 billion in the coming years, excluding projects already underway.
It was previously reported that the Horizon Towers project alone is valued at approximately €200 million and will become one of the largest residential developments in the region. At the same time, SLK Development continues construction of another major project, Lumina Mare, which is also located in the new area surrounding the future Larnaca marina.
SLK Development CEO Robert Saghrawi noted that obtaining the permit marks the project’s transition from the planning stage to active implementation. According to him, the company aims not simply to build modern residential complexes but also to contribute to shaping the new image of Larnaca. Projects of this scale are expected to attract new investment, stimulate business development, create additional jobs and enhance the city’s international appeal.
Over the past few years, Larnaca has become one of the most dynamically developing property markets in Cyprus. According to the Department of Lands and Surveys, the number of property transactions in the district continues to grow at double-digit rates, with demand supported by both local buyers and foreign investors.
Large-scale redevelopment of the coastline continues
The development of Horizon Towers forms part of the comprehensive transformation of Larnaca’s eastern coastline. In addition to new residential districts, plans include public spaces, promenades, commercial properties and infrastructure development for the future marina. Property market experts believe that the completion of these projects will significantly increase Larnaca’s investment appeal and strengthen its position as one of the most promising destinations for purchasing residential and commercial property in Cyprus.