Once, Kyrenia and Famagusta were the shining stars of Cyprus’ tourism industry. But, post-1974, the island’s map was dramatically redrawn. And with the loss of these jewels, other towns stepped up to fill the void…

Larnaca was amongst the first to rise to the challenge. Steeped in history and graced with beautiful beaches, it quickly became one of Cyprus’ key tourist destinations, riding the wave of the global tourism boom and growing fascination with the Mediterranean holiday.

In the 1970s and ’80s, this coastal town thrived as visitors from across the globe were drawn to its sun-drenched shores and warm hospitality. And, at the very heart of this golden age stood the Palm Beach Hotel…

Back then, the Palm Beach Hotel was a bustling hub of activity: guests enjoying cocktails as the sun set, families playing in the clear waters, and honeymooners strolling along the golden sands. It wasn’t just a hotel – it was a marker of Larnaca’s growing appeal as a destination for Mediterranean luxury.

But like the ebb and flow of the tide, Larnaca’s fortunes shifted. By the 1990s, Ayia Napa and Paphos had invested heavily in their tourist infrastructure, creating sprawling resorts and energetic nightlife hubs. Larnaca began to be overshadowed. And, as the years passed, the once-bustling coastline grew quieter as tourists opted for glitzier alternatives.

A turning point for Larnaca

In the coming year, however, this is set to change. The signs are all there: Larnaca is once more on the brink of transformation…

After years in the doldrums, Larnaca’s arrivals are on the up: last year, tourism growth saw numbers increase from 12 per cent of national arrivals to over 13 per cent. It may not sound like much, but given Cyprus’ overall arrivals, we’re looking at close on 80,000 additional visitors – a subtle yet meaningful uptick.

Adding to this momentum is one of the most transformative changes in the town’s recent history: the relocation of the oil and gas facilities that once dominated the coast. And with six kilometres of beachfront freed up, Larnaca now has the canvas for a reimagined future…

At the heart of this transformation is the revitalisation of the iconic Palm Beach Resort. With an investment of over €100 million, this mixed-use development is set to breathe new life into Larnaca’s coastline, creating opportunities for locals, welcoming visitors, and enhancing the town’s reputation as a vibrant, modern destination.

Leading this renaissance is the Premium Access Group, helmed by Evgeni Leibovich and Shaul Keinan. A seasoned entrepreneur with a keen eye for innovation, Keinan speaks with passion about the town and its potential.

The renaissance begins

“Larnaca has always had the ingredients for greatness: history, beauty, and location,” reveals Keinan. “It’s a town with a soul – authentic, welcoming and full of potential. With its proximity to an international airport, its central position just 25 minutes from a European capital, and its stunning coastline, Larnaca is perfectly situated.

“Add to that its rich history, calm beaches, and natural charm, and you have a destination ready to shine. What Larnaca needed was a spark to reignite its appeal, and that’s where the Palm Beach Resort comes in: the foundation of something truly special.”

Designed to benefit Larnaca as a whole, the new Palm Beach Resort is scheduled for completion in 2026. The project will include a five-star resort alongside a vibrant mixed-use space – a concept that integrates residential, commercial, and recreational facilities in one location.

“Mixed-use properties are the future,” Keinan explains. “They create vibrant spaces where people can live, work, and play – all within walking distance. For Larnaca, this means more than just attracting visitors; it’s about creating a thriving ecosystem that benefits locals and tourists alike.”

The new Palm Beach Resort will feature luxurious residences, including a striking nine-story tower and exclusive bungalows nestled amidst lush gardens. A state-of-the-art wellness centre and beachfront activities will cater to those seeking relaxation and adventure, while fine dining establishments and entertainment options promise an elevated experience for all.

From its beachfront amenities to its inviting public spaces, this reimagined Resort aims to enhance the city’s charm while contributing to its economic growth and appeal. And Keinan envisions the resort as more than just a destination.

A Larnaca landmark

“Our goal is to make the Palm Beach Resort a landmark – an experience that resonates both with the community and visitors,” he says. “It’s not just about luxury; it’s about creating a space that feels alive, where memories are made.”

By integrating amenities that encourage longer stays and higher spending – restaurants, shops, and wellness services – projects such as the Palm Beach Resort create self-sustaining hubs that draw diverse audiences. And Keinan emphasises the ripple effect this has on the local economy. “Every euro spent within the resort multiplies through the town,” he points out. “It’s not just about attracting high-spending tourists; it’s about lifting the entire community.”

The Palm Beach Resort is more than just a development; it represents a new chapter in Larnaca’s story; a chapter that embraces growth while honouring the city’s heritage. It’s a symbol of transformation that aims to benefit the entire region, offering opportunities for locals and visitors to enjoy a revitalised, world-class destination.

Keinan’s optimism is infectious. “Larnaca has always had a special soul,” he says. “We’re not just building a resort; we’re contributing to a vision where the town’s heritage meets its future. The Palm Beach Resort is a part of that story – a place where locals and visitors can thrive together. A place that will, once more, allow Larnaca to shine.”