Larnaca’s investment potential takes centre stage

The Great Britain-Cyprus Business Association held a conference on Tuesday evening which put the spotlight on Larnaca’s potential as a key investment destination.

The event, titled “A Hidden Gem in the Mediterranean,” sought to cast the spotlight on Zenon’s city as a flourishing hub for both local and international investors.

Savvas Kyriakides, the founder and President of the Great Britain-Cyprus Business Association, articulated the essence of the gathering in his opening address.

He proposed Larnaca as an emerging powerhouse within Cyprus, poised to succeed Limassol and Paphos as the next focal point for investment.

“The conference’s goal,” Kyriakides emphasised, “is to promote Larnaca as an emerging force in Cyprus, taking the baton from other cities.”

He highlighted Larnaca’s allure, noting its capacity to draw visitors from across the island, including the capital, Nicosia, especially to the vibrant Famagusta district.

Echoing this sentiment, Tina Poullides, co-organiser of the Larnaca International Business Summit, delved into Larnaca’s storied past.

She reminded attendees of the city’s ancient commercial prominence, underscoring its historical significance as one of the Mediterranean’s key ports.

“The city of Zenon was one of Cyprus’s most important cities and should serve as our inspiration today,” Poullides stated, referring to the seamless blend of ancient and modern cultures that characterises Larnaca today.

Larnaca’s Mayor, Andreas Vyras, contributed to the narrative by outlining the city’s unique characteristics.

With the longest coastline in Cyprus, stretching 75 kilometres, and its status as the third-largest city complete with an airport, port, and marina, Larnaca boasts beyond compare access to the rest of the island.

Vyras also highlighted the city’s inclusion among the world’s 20 oldest continuously inhabited cities, enhancing its appeal with its rich historical tapestry and archaeological treasures, which transform the city into a living museum.

Angelos Hadjicharalambous, Director General of the Larnaca Sewerage Board, reinforced the optimistic outlook for Larnaca’s development and investment landscape.

He noted the significant strides the city has made in housing development, services, and enhancing life quality for residents and visitors alike.

“Larnaca is a key destination for business activities by Cypriot and foreign entrepreneurs, with particularly promising prospects for the city of Zenon,” Hadjicharalambous stated.

The conference did not shy away from detailing the myriad projects that have already been implemented or are currently underway in Larnaca.

With investments totalling €50 million, these projects range from anti-flooding measures and the construction of a new Municipal Market to the comprehensive redevelopment of public spaces and the enhancement of cultural and social welfare facilities.

These initiatives underscore a commitment to not only preserve Larnaca’s rich heritage but also to pave the way for its future growth.