Antonis Marinou: "There’s never been a better time to invest in Cyprus — and especially Larnaca"

There’s never been a better time to invest in Cyprus - and especially Larnaca - according to Antonis Marinou, Operations Manager at Marinakis Property Developers.

He explains why in an interview with CBN, where he also reveals that Cyprus is not just keeping up with the global real estate trends — "In many areas, we're leading".

Of course, there's always room for growth and refinement, he adds.

When was Marinakis Property Developers founded and how many people does it employ? What is the company’s philosophy?

Marinakis Property Developers was founded in 1981 and today employs 40 professionals, while also permanently subcontracting over 200 individuals to meet the demands of our expanding portfolio.

Our philosophy is pretty much straight forward: To consistently offer a prestigious and diverse portfolio of value-for-money properties that exceed client expectations, while delivering a unique, transparent, and sustainable purchasing experience.

Can you please name some of Marinakis Property Developers’ landmark projects, completed and in the works, and talk us through the experience of building projects of such scope?

Marinakis Property Developers has successfully delivered a wide range of projects across the Larnaca region. Each development becomes a landmark — not only for its architecture but for the valuable lessons it imparts. A high-rise building, for example, teaches the importance of precise time and resource management, as multiple operations take place simultaneously. On the other hand, building a large mansion on a hillside emphasises the critical role of geological studies and proper site preparation before construction begins.

Personally, the projects that stand out most to me are:

1. SunValley Residences: A gated community of 15 detached villas, nestled in a serene residential area just moments from the upcoming Larnaca Bay Costal Redevelopment. Each residence blends contemporary architecture with Mediterranean warmth, offering open-plan living spaces, private pools, landscaped gardens, and premium finishes. Sun Valley has become a preferred choice for modern families and discerning investors alike.
2. Marigate Larnaca: A luxury high-rise of nine full-floor sky residences in the heart of Larnaca. Each apartment offers sea views, private Jacuzzi, and premium amenities like a gym and concierge — redefining vertical living in the city.
3. Sundown Private Hills: A one-of-a-kind mansion set on 11,000 m² of private land, designed for total privacy and timeless luxury. With 1,130 m² of covered space, it’s a statement of scale, seclusion, and refinement.

What is it like to run a real estate company in Cyprus? What do you believe are the benefits, and challenges?

Running a real estate investment and development company is, at its core, an entrepreneurial pursuit. It’s a role that is equally rewarding, challenging, and fast-paced. Success requires a strong work ethic, creative thinking, and, above all, patience. You need to be a people person to effectively oversee day-to-day operations, while also having a deep understanding of markets dynamics. This allows you to identify growth opportunities, anticipate potential challenges, and make informed, strategic decisions.

Throughout my career, this industry has offered me incredible opportunities — from expanding my network and exploring diverse markets to playing a role in some of the most important decisions in my clients’ lives. I’ve also had the privilege of working with exceptionally talented individuals who have inspired and taught me along the way. Of course, with these rewards come significant challenges. The nature of our work often demands irregular hours, carries legal responsibilities across multiple parties, and requires navigating the complexities of cash-flow fluctuations. But perhaps the most demanding — and at times, most rewarding — aspect is managing people: your team, your partners, and your clients.

What are the biggest trends globally in real estate right now? Is Cyprus keeping up?

The global real estate landscape is evolving rapidly, influenced by economic shifts, technological advancements and new societal priorities. As of mid-2025, some of the most influential trends include:

ESG (Environmental, Social and Governance) is now central to real estate development and investment. Today’s investors demand sustainable practices, ethical governance, and developments that align with social responsibility. Buildings have a significant environmental footprint, and ESG compliance is no longer optional — it’s expected.

Technology Adoption: From smart infrastructure to digital property management systems, technology is transforming real estate operations. It streamlines admin, boosts transparency, and enhances tenant and buyer experiences. Tech isn’t a trend anymore, it’s a baseline requirement.

Diversification into Alternative Sectors: Real estate portfolios are expanding into new asset classes like data centers, senior housing and healthcare. These segments reflect long-term social needs and offer resilience in a volatile global market.

As for Cyprus? We’re very much aligned with these global shifts. Our real estate industry has matured significantly, driven by international investor exposure and the competence of local professionals. Of course, there's always room for growth and refinement, but overall, Cyprus is not just keeping up — in many areas, we're leading.

Cyprus’ property market, and Larnaca’s in particular, has seen significant growth in recent years. Why do you think that is and what does the island, and Larnaca, have to offer to investors that makes it stand out from competitor countries/towns?

As mentioned above, the real estate industry in Cyprus is currently in a strong position. Over the past decades, it has evolved significantly, now offering properties that not only compete with but often surpass those in other countries. But it's not just the quality of our developments that stands out, Cyprus benefits from a strategic location, being part of the European Union, a favourable tax regime, and a welcoming culture that makes it an ideal destination for individuals and businesses looking to relocate.

And what about Larnaca? The facts speak for themselves.

• The city has witnessed for the last year a steady YoY increase (of ≈ 7%) in the value of residential properties. Property appreciation is a major decision-making factor for any person investing in real estate.
• The large-scale redevelopment of the Larnaca Bay area is also underway — a collaboration between the public and private sectors aiming to transform the city’s infrastructure and elevate the lifestyle of its residents. From pedestrian pathways with outdoor gyms along the coastal road, to new hotels, schools, shopping, and hospitality facilities, the city is embracing modernisation in a meaningful way. As more people are drawn to live and work here, rental yields for investors continue to improve.
• The city has witnessed a remarkable increase (of ≈ 28%) in real estate transactions over the last couple of years, proving that foreigners as well as locals are interested in investing in the city, largely due it still being an emerging market, thus offering affordable pricing opportunities.

In short, there’s never been a better time to invest in Cyprus — and especially in Larnaca.

What is your vision for Marinakis Property Developers’ future?

Since our company’s incorporation in 1981, the vision that our founder has set remains the same. To empower our clients with exceptional property choices that deliver lasting value, uncompromising quality and unwavering trust.

Finally, do you have any other major projects coming up?

We are always working on exciting new projects. We are currently working on five new projects. Since you are referring to the major ones, we are designing a huge independent community comprising more than 220 property units (apartments and houses). In parallel, we are awaiting planning permission for a commercial building offering more than 4,000 m² of office space — in response to the growing demand for high-quality business infrastructure in Larnaca. That’s just a glimpse. To explore what’s coming next, I invite you to visit www.marinakisproperty.com and stay connected with our latest updates.