Shaul Keinan, Managing Director and Co-Partner of Premium Access Group, discusses why the company decided to invest in Larnaca and reveals his vision for the new Palm Beach Resort.
What initially attracted you to Larnaca and how did the idea of investing in the city come about?
I made my first visit to Larnaca during a financial transaction and I was immediately drawn to the city’s natural beauty and authenticity. What stood out even more was its potential. At the time, it was clear that Larnaca was entering a new chapter. The relocation of the oil and gas facilities had created space for something meaningful. A long stretch of coastline was suddenly available. That kind of transformation does not happen often.
Larnaca also offers strategic advantages. It is a city that is easy to access, with an international airport just minutes away and reaching the capital, Nicosia, takes only 30 minutes by car. But more than that, it feels personal. The scale is human. The environment is balanced. There is space for a sustainable type of development that respects people, nature and the history of the place.
We saw an opportunity to contribute to that shift. The location of the old Palm Beach Hotel, right on the coastline, made the decision even clearer. It is close to everything but still feels tucked away. The site carries emotional weight and memories for the community. Families grew up spending summers there. We felt a responsibility to honour that legacy while creating something new for the future.
So, can you elaborate on your investment in the new Palm Beach Resort? What inspired its design and what kind of impact do you hope the project will have on Larnaca?
Palm Beach Resort is our flagship project in Cyprus. It is more than just a resort. It is a long-term commitment to Larnaca and to Cyprus. Our aim is to create a destination that respects the past but looks forward with confidence. The resort sits on a unique 30,000-square-metre beachfront site. It is a mixed-use development that includes a five-star hotel, three distinct residential offerings, wellness facilities, fine dining venues, conference and event spaces and a thoughtfully designed public beachfront.
The architectural concept was shaped by the local environment. It brings together clean lines, Mediterranean light, natural materials and open spaces. The vision was brought to life by IQONA Architects, Eraclis Papachristou Architects and V&V Xenia Vatyliotou Interior Designers. Project coordination and technical oversight are managed by Evripidou Engineers & Project Managers, construction is led by Psaras Constructions and the operation of the resort has been entrusted to Thanos Hospitality Services, which has decades of experience in luxury hospitality in Cyprus.
What makes Palm Beach Resort different?
The difference lies in the way all the various elements are integrated. It is not just a hotel with some residences. It is a full community. The Sea Breeze Tower offers 55 contemporary residences with views of the coast and easy access to resort services. The Waterfront Residences are positioned directly on the sea and offer a peaceful setting with studio, one-bedroom and two-bedroom units. The Beach House Residences are a small collection of villas arranged around a private pool and landscaped garden. Each option speaks to a different lifestyle and need.
We want Palm Beach Resort to feel open and inclusive. Residents and guests will enjoy high-end hospitality but they will also feel part of a living neighbourhood. There will be spaces to relax, meet others or simply enjoy the view. Our goal is to bring life back to this part of Larnaca and to offer something that elevates the city’s position as a Mediterranean destination.
Sustainability is an essential component of every new building project. What specific ecological innovations and green initiatives do you plan to incorporate into the resort?
Sustainability was part of the plan from the beginning. It is not something we added later. We believe that a modern development must respect its surroundings and that means designing with long-term impact in mind. At Palm Beach Resort, we have made the entire area car-free. Parking is underground. This keeps noise and pollution away from the heart of the resort and creates a more peaceful atmosphere. We are using green roofs and native plants to reduce heat and support biodiversity. Shaded walkways and canopies improve comfort and reduce the need for cooling. Our architects and engineers are using materials and systems that lower energy use and water consumption. These efforts are not just about the environment. They are about creating a better experience for the people who live and stay at the resort. When a place is designed well, it becomes easier to enjoy. That is the ultimate goal.
How has your experience of the Cypriot market been? How does it compare to other countries?
Cyprus has been a very welcoming place to work. The business community is built on trust and personal relationships and that is something we value as a company. There are, of course, challenges. Bureaucracy can be slow and processes are sometimes difficult to navigate but we have found that the public sector is willing to help. People want to see progress and that makes a big difference. Compared to other markets, Cyprus feels more connected. There is still a strong sense of place. Overall, it is a market where we feel we can contribute and grow. The potential is real and the country has many strengths, from its location and lifestyle to the quality of its professionals.
Premium Access Group specialises in investing and leveraged buyouts. Are you eyeing any other projects in Cyprus after the Palm Beach Resort?
Right now, our main focus is delivering Palm Beach Resort. This is a major project and we are fully committed to it. That said, we are always exploring. Cyprus has several areas with real potential, especially in residential and commercial real estate. We are also looking at other sectors such as office space, education and senior housing. These are areas where we believe demand will grow and where we can offer something of value. We take a long-term approach. We do not invest just to build. We want to create projects that last and bring something meaningful to the community.
Cyprus is working on attracting more Foreign Direct Investment. How do you see the country progressing and what could be done better?
Cyprus has many strong foundations. It is well located, safe and offers a high quality of life. The weather, the culture and the lifestyle are all real assets but if Cyprus wants to attract serious long-term investment, it needs to continue evolving. The main area to improve is efficiency. Investors need clarity, speed and reliability. That means simplifying permit issuance, licensing and approvals. When procedures are slow or unclear, the risk increases. Beyond that, we should think about the full ecosystem. Investors and professionals come with families. They look for international schools, good healthcare, safe neighbourhoods and services for all age groups. We also need to think about the future. That includes planning for elderly care, smart infrastructure and well-connected public spaces.
The goal should be to make Cyprus not just a place to invest in but a place where we can live well. A country that supports people at every stage of their lives is a country that will attract talent and capital for the long term.
(Photo by Michalis Kyprianou)
- This interview was first published in the July issue of GOLD magazine. Click here to view it
