Lanitis Golf Posts €1.72 Million Profit Amid Strategic Development Advances

by THEFUTURE.TEAM

April 28, 2026

Lanitis Golf Public Co Limited has delivered a strong financial performance, reporting a profit of €1.72 million for the year ended December 31, 2025. The financial milestone comes as the company makes significant headway in its integrated luxury golf and residential development project in Limassol.

Robust Financial Performance And Strategic Approval

The board of directors approved the annual financial statements, with the full report available for review at the company’s offices at Lanitis Farm in Fasouri and on the Cyprus Stock Exchange website. An annual general meeting is scheduled for June 4, 2026, at 9:00 a.m. at the company’s head office in Fasouri, Limassol.

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Milestones In Integrated Development

Development activity includes a golf course and residential units. Key approvals include a town planning permit granted in November 2012 and a building permit issued in July 2019. Construction began in 2021. Agreements signed between 2022 and 2024 expanded the project to include villas, townhouses, apartment buildings, a clubhouse, and internal road infrastructure. Transfer of several plots to buyers in 2024 enabled revenue recognition.

Significant Construction Progress And Market Positioning

Construction progressed in 2025 with the completion of the golf course, clubhouse, and internal road network. Additional plot transfers and property sales contributed to revenue. The project covers approximately 1,400 decares near Tserkezoi and Asomatos, close to My Mall Limassol, Fasouri Watermania Waterpark, and the city’s casino resort.

Financial Health And Risk Management

Total development expenditure stood at €26.79 million at the end of 2025, compared with €40.20 million in 2024. Total assets increased to €177.81 million from €166.30 million, while net assets rose to €68.27 million from €64.39 million. Management monitors credit, liquidity, and interest rate risks, including exposure to variable-rate borrowings.

Outlook And Future Sales Efforts

Looking forward, Lanitis Golf is focused on accelerating sales of plots, apartments, villas, and townhouses into early 2026. The company remains committed to steady construction progress while retaining its profits for reinvestment, with no dividend payout declared. As the project evolves into a fully integrated golf and real estate development, investor confidence continues to grow, further supporting rising real estate values in the region.

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Cyprus And Greece Outline Joint Tourism Plans For Summer 2026

by THEFUTURE.TEAM

May 1, 2026

Strategic Partnership Enhances Tourism Prospects

The Cyprus Tourism Authority (EOT Cyprus) presented proposals for summer 2026 focused on strengthening tourism cooperation between Cyprus and Greece, with joint efforts aimed at attracting visitors from long-haul markets.

Greece: The Top Destination For Cypriot Travelers

At an event on April 28, Athena Spakouri, Director of EOT Cyprus, said Greece is expected to remain the main travel destination for Cypriot residents, with plans extending beyond established locations to include lesser-known regions. This approach reflects a broader effort to diversify travel options while maintaining strong demand between the two countries.

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Complementary Destinations, Unified Vision

Building on this, Spakouri noted that Cyprus and Greece offer complementary tourism experiences rather than competing directly. Joint programmes are therefore being positioned to attract visitors from markets such as the United States and China, while tourism activity continues to be assessed in the context of broader geopolitical developments.

Robust Air And Sea Connectivity

Supporting this cooperation, Konstantinos Kollias said around 600,000 Cypriots travelled to Greece in 2025. Frequent flights, short travel times, and ferry connections between Limassol and Piraeus continue to facilitate movement between the two countries and sustain travel flows.

Diverse Tourism Offerings for a New Era

Konstantinos Kollias highlighted that Greece’s tourism portfolio spans from traditional seaside holidays to sectors such as cultural, religious, gastronomic, agritourism, ecotourism, spa, conference, and medical tourism.

This range reflects the expansion of tourism offerings across different segments and travel preferences. In parallel, Joseph Iosif referred to Greece as a “second homeland” for Cypriot travellers, pointing to longstanding cultural and travel links between the two countries.

Innovative Programs And Strengthened Connections

Building on this approach, the EOT strategy includes initiatives focused on gastronomic routes, cultural trails, thematic and religious tourism, as well as curated city breaks in destinations such as Athens and Thessaloniki. These programmes were presented at the event alongside references to historical, cultural, and religious connections between Cyprus and Greece, including remarks from Bishop Gregorios of Mesaoria.

Boosting Air Connectivity And Island Accessibility

At the same time, airlines including Aegean Airlines, Sky Express, and Cyprus Airways outlined plans to expand connections between Cyprus and Greece, with a focus on increasing access to island destinations. The event also brought together stakeholders from the Deputy Ministry of Tourism, Hermes Airports, tour operators, and ACTAA, reflecting coordination across different parts of the tourism sector.

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