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Land of Tomorrow: Important investment anticipated to create a new growth dynamic for Larnaca

The multiple benefits that will arise, not only for Larnaca but also for the whole of Cyprus and its economy, were highlighted by President Nikos Christodoulides in his address during a 'Land of Tomorrow' event held by Petrolina on the seafront of Dekelia.

This grand project sees the group developing privately owned properties where the old fuel terminal was housed on the northern seafront of Larnaca, transforming the area into a modern and attractive space for the next generations.

In his greeting at the event, President Christodoulides described the private initiative as an example of sustainable development, which - as he noted - was and is a key pillar of his administration.


As he underlined, with the prospects opened up through the implementation of the project, the 'City of Zenon' as Larnaca is known will reintroduce itself to the tourist and investment world as a destination with great attributes.

"We welcome such serious and credible investments. The fact that this collaboration exists is the best and most powerful vote of confidence to the implementation of this project," he emphasised.

Addressing the mayor of Larnaca, Andreas Vyras, Nikos Christodoulides indicated that he can proudly say that Larnaca is no longer the "poor cousin,"while he noted that in the immediate future in other cities of Cyprus, as well as in Larnaca, new important reliable investments are also to be announced, showing the country's real prospects.


During the event, Dinos Lefkaritis, CEO of Lefkaritis Group of Companies gave an adress, as well as the CEO of bbf, which will build the Land of Tomorrow project, Vadim Romanov.


Dinos Lefkaritis


Vadim Romanov

House President Annita Demetriou, and the Mayor of Larnaca, Andreas Vyras, also addressed the gathering.


Annita Demetriou

In her greeting, House President Demetriou referred to what occured in the area a few years ago, i.e. the demolition of the oil tanks that existed on the sea front of Larnaca and noted that "it took a collective effort from everyone and the intervention of Larnaca's MPs was also important of Larnaca, as was that of the House of Representatives, and we were a front line of support for what Larnaca needed and needs."

She added that "for some years Larnaca has been aware of the development it is entitled to and still has many things to demonstrate" and noted that "institutionally as a state we are here in the presence of the President of the Republic to support this great effort as a Parliament and as a Local Government."

As Demetriou said, "this specific project raise economy and, more broadly, the prospects of the Republic of Cyprus. We hope that other projects, which Larnaca and Cyprus need, such as the port, marina and universities (will follow)."

It is also important, she continued, "and for the residents of Larnaca because the people of Larnaca are finally entitled to become familiar with a very important project that will create more prospects. The coastal front is freed, the oil tanks are gone, the area is being restored and we are finally entering a new and different era."

"We will be by your side and trying all together to give this new breath and the prospects that Larnaca deserves and is entitled to and we look forward to this new project taking shape", concluded the House President.


Andreas Vyras

Read the President of the Republic Nikos Christodoulides' full address below (translated from Greek):

It is with great pleasure that I participate in today's event which, among many others, also marks a new beginning for the city of Larnaca. The 'Land of Tomorrow' project is not just another urban development in Larnaca and in our country, but it is a clear prospect for a new development dynamic of the city of Larnaca.


My presence here today, together with Ministers, is indicative of how important we consider this task as an executive power.

A private initiative, an example of sustainable development, which was and is a key pillar of our government, the need to combine development with all the challenges we have to face in relation to climate change.

'Land of Tomorrow' aims to create a sustainable coastal development, which will act as reinforcements in our joint effort to revitalize the wider area.

This development is not just about buildings and infrastructure. It concerns the creation of an area that will enhance the development of the local economy and beyond, as well as the well-being of citizens, with full respect for the environment.

Larnaca, with its impressive heritage, diverse natural environment and close relationship with the sea, will now add to its urban center an area fully in harmony with its surroundings.

With the prospects opened up through the implementation of this project, the City of Zenon will re-introduce itself to the tourist and investment world as a destination with great attributes.


We welcome such serious and reliable investments. That this collaboration exists is the best and most powerful vote of confidence towards realizing this project.

We are a country that relies heavily on investment, but we are a country that wants to have reliable investments and investors that can meet their obligations. And I am especially happy because this collaboration exists.

I was also with my friend Vadim at the presentation of the project in Berengaria, and today we are here. Dear Vadim, between your two investments, from the snow you will be able to enjoy the beach, I think there is no better prospect and with your own investment and all that is done from the executive side, my friend the Mayor, you can now proudly say that Larnaca is no longer the "poor cousin."


We met a few days ago, we decided what to do in the port of Larnaca, with strong financial support from the state for the projects that need to be done. Tomorrow there is a meeting with the responsible Minister of Transport and next week, together, we will announce specifically how we are going forward.

From the first moment, as I had promised in writing, I mentioned the issue of the University, the Deputy Minister of Shipping is also here and I think there is no better indication that we are moving forward with what we promised for the city of Larnaca.

I am particularly happy to be here, today we see a very important investment for our country starting to materialize.

In the next period and in other cities of Cyprus, as well as in Larnaca, we will announce new important reliable investments, showing the true prospects for our country. 


The event was attended by, among others, the Government Spokesperson, the Minister of Agriculture, the Deputy Minister of Shipping, MPs, Mayors, the President of the Larnaca district self-governance organisation (EoA) and deputy -mayors.


(Source: InBusinessNews)

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