Larnaca’s long-awaited port and marina redevelopment is being placed back on track through a new roadmap that estimates the overall cost of the project at around €415 million.
The preliminary estimate, included in the plan presented on Thursday by the Cyprus Ports Authority, carries a margin of variation of ±50%. The project is divided into three parallel components, covering the marina’s land areas, the marina itself and the wider port, with the full timetable extending to 2045.
The first component concerns the marina’s land areas and neighbouring sites, with an estimated cost of around €190 million for the period 2027 to 2036. The initial phase provides for the improvement of existing spaces, the relocation of boatyards from the marina to the northern edge of the port, and the creation of road networks and basic infrastructure.
The plan also includes public spaces, green areas and new parking facilities, before moving on to larger commercial and tourism developments. These are expected to include retail units, hotels, a conference centre, restaurants, leisure areas and office space, in line with the local plan. Most of these commercial projects are expected to be carried out by private investors.
The second component focuses on the redevelopment and expansion of the marina. It is estimated at around €20 million and is also planned for the 2027 to 2036 period. Works include the maintenance of existing infrastructure, the construction of new service buildings and the extension of the leeward breakwater, together with a new southern quay.
The largest component concerns the port itself, with an estimated cost of around €205 million and a timetable running to 2045. The first stages will focus on maintenance, upgrades to networks and the purchase of new equipment, while new administration and passenger buildings are also planned.
The most significant port works, including new quays, a leeward breakwater and a harbour basin, are scheduled for the final phase between 2036 and 2045.
Under the roadmap, the Cyprus Ports Authority will retain responsibility for core infrastructure and maintenance works, while private investors are expected to take on a major part of the commercial and tourism development. The Master Plan is expected to be completed by 2029.
The strategic objective is to create a modern and sustainable coastal development linking port operations, business activity and public uses with leisure, culture and tourism. The project is also intended to strengthen Larnaca’s role in shipping and the blue economy in the Eastern Mediterranean.
Before implementation can proceed, however, several institutional steps must be completed. These include transferring ownership of the land areas to the Cyprus Ports Authority, terminating the existing port lease agreement, designating the area as a port zone and introducing the necessary legislative changes for the marina.
The implementation model is based on public ownership and strategic control by the Cyprus Ports Authority, with the Master Plan advancing gradually and private investment brought in at different stages. The roadmap also seeks to ensure that the port and marina continue operating throughout the redevelopment period.
Source: CNA
