The redevelopment of Larnaca Port and Marina is estimated to cost around €415 million, according to a preliminary assessment outlined in a roadmap presented on Thursday by the Cyprus Ports Authority.
The large-scale project is divided into three parallel sub-projects, each with distinct actions, timelines, and implementation bodies, forming part of a long-term strategy extending to 2045.
Sub-project A, which focuses on the Marina’s land areas and adjacent plots, is expected to cost approximately €190 million between 2027 and 2036. Early works will include the beautification of existing spaces and the relocation of shipyards from the Marina to the northern end of the Port, alongside the development of road networks and essential infrastructure. Plans also include public spaces, green areas, and new parking facilities. Subsequent phases will introduce commercial and mixed-use developments in line with the Local Plan, including retail outlets, hotels, a conference centre, restaurants, leisure areas, and office spaces. The majority of these commercial developments are expected to be carried out by private investors.
Sub-project B, with a budget of approximately €20 million over the same period, concerns the redevelopment and enhancement of the Marina. Works will include maintenance of existing infrastructure, construction of new service buildings, and the extension of the leeward breakwater with a new southern quay.
The largest component, Sub-project C, concerns the modernisation and expansion of the Port, with an estimated cost of €205 million extending to 2045. Initial phases will focus on maintenance, network upgrades, and procurement of new equipment, as well as the construction of new administrative and passenger buildings. Major infrastructure works, including new quays, a leeward breakwater, and a harbour basin, are scheduled for the period between 2036 and 2045.
The Cyprus Ports Authority will be responsible for core infrastructure and maintenance works, while a significant share of commercial and tourism-related developments is expected to attract private investment. The Master Plan is scheduled for completion by 2029.
The project’s strategic vision is to create a modern, sustainable, and internationally competitive waterfront development, integrating port operations with business, tourism, leisure, and cultural uses. It aims to boost economic growth, tourism, and shipping activity, positioning Larnaca as a key hub for the blue economy in the Eastern Mediterranean.
Key institutional prerequisites for implementation include the transfer of land ownership to the Cyprus Ports Authority, termination of the current port lease agreement, designation of the area as a port zone, and legislative amendments concerning the Marina.
The implementation model envisages public ownership and strategic control by the Ports Authority, alongside the gradual maturation of the Master Plan and the attraction of private investment, while ensuring the uninterrupted operation of both the port and the marina.
