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€30 Million Investment In Larnaca’s Livadia And Oroklini Promises Transformational Growth

Dynamic Districts On The Rise

Larnaca is set to experience a significant transformation as projects valued at approximately €30 million are underway or on the horizon in the municipality’s most dynamic districts, Livadia and Oroklini. Mayor Andreas Vyras has emphasized the strategic focus on mature projects and the initiation of new ventures to secure substantial development in these rapidly growing areas.

Strategic Infrastructure And Urban Regeneration

The historic core of Oroklini, a culturally diverse community inhabited by residents from 33 nationalities, is at the forefront of urban regeneration. A €3.5 million restoration project, co-financed by the European Agricultural Fund for Rural Development (EAFRD), aims to revitalize several streets in the area renowned for its taverns, galleries, and tourist accommodations. Tenders are expected to be announced soon, with construction slated to commence in 2026.

Simultaneously, the ambitious €17.5 million third phase of the Larnaca–Dhekelia coastal road is progressing, albeit with an anticipated delay of approximately 10 months. This 3.5-kilometer upgrade will expand road capacity with four lanes, enhanced pedestrian amenities, bike paths, green areas, and modern roundabouts, targeting completion by March 2026.

Overcoming Development Challenges

Amid these advancements, local authorities continue to address challenges. The extension of Oroklini’s coastal pedestrian walkway has stalled due to objections stemming from unauthorized property expansion into a protected area. Mayor Vyras indicated that legal action may be pursued if a compromise is not reached.

Additional initiatives include the renovation of three parks, the upgrade of lighting at both the Oroklini stadium and the Park of Europe, as well as preliminary design work for a 1,000-seat amphitheatre and a multipurpose sports hall. In Livadia, the lifting of industrial restrictions has paved the way for a €3 million regeneration of the district’s core, with improvements planned along Makariou Avenue and in the underground services and landscaping.

Urgent Infrastructure And Safety Concerns

Deputy Mayor Marios Armenis outlined further projects in Livadia such as the reconstruction of Ayia Paraskevi Park, redevelopment of the central square of Ayias Paraskeyis, and the expansion of the Kalamourgiki Memorial Museum. Additionally, work on an environmental park and a new regional primary school is progressing, alongside smaller projects including park refurbishments, new bus shelters, and road paving efforts.

Among the most pressing issues remains the extension of Panagouli Avenue, a road of primary importance that has languished since 2009 despite escalating traffic demands near key educational institutions. With an estimated cost of €12 million and an anticipated start date not expected before 2028, Armenis warns that continued delays pose significant risks to public safety and infrastructure efficacy.

A Call For Coordinated Investment

Both Livadia and Oroklini are undergoing rapid expansion that outpaces their existing infrastructure. Local officials and residents alike are urging the central government to align funding with the pace of urban growth, ensuring that the momentum of these strategic investments translates into sustainable, long-term benefits for the community.

Cyprus-Based ASBIS Hits Record $1.05bn In Monthly Revenue, Up 216% Year On Year

The technology distributor ASBIS Group, headquartered in Limassol, has exceeded $1 billion in monthly sales for the first time in its history, reporting preliminary consolidated revenue of $1.05 billion in September 2026, more than three times the amount recorded a year earlier.

The figure represents a 216% increase from $332 million in September 2025, making it the highest-revenue month in the company’s history.

ASBIS reported its strongest sales growth in servers and server components, while CEO Serhei Kostevitch pointed to growing demand for artificial intelligence solutions and computing infrastructure as an opportunity for the business.

For a company operating across Europe, the Middle East and Africa, September marked a new sales milestone following several months of substantial year-on-year growth.

Kostevitch attributed the record performance to the group’s existing operations, highlighting its broad product portfolio, international market presence and strong relationships with manufacturers and trading partners.

“Most importantly, this result is the outcome of our regular operating activities,” he said.

The CEO also highlighted the company’s portfolio of projects as a reason for confidence in continued AI-related development.

However, the group’s growth was not limited to AI-related technologies. Smartphones also performed strongly in September, with Kostevitch stressing that “we are growing beyond the AI segment as well.”

Kazakhstan, the United Arab Emirates and Ukraine accounted for the largest shares of ASBIS’s September revenue, followed by Slovakia and Poland.

Growth Follows Record First Half

September’s results follow a period of strong financial performance for ASBIS.

In July, the company reported preliminary consolidated revenue of $531 million, an increase of 89% compared with the same month in 2025. August brought a further rise to $604 million, up 91% year on year.

September’s $1.05 billion figure represents a substantial increase on both months, although the company has not provided a detailed breakdown explaining the acceleration.

The results also follow a record first half of 2026, when ASBIS generated approximately $2.97 billion in consolidated revenue, up 76% year on year.

Net profit after tax reached $80.6 million, compared with $19.4 million in the same period in 2025.

The second quarter was particularly strong, with revenue reaching $1.69 billion, an increase of 78.7%, while quarterly net profit more than tripled to $44.3 million.

ASBIS has emphasised that its September revenue figures are preliminary estimates and may differ from the final reported results.

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