Larnaca’s €130 Million Revitalisation Plan To Transform The City Over The Next Two Years

by THEFUTURE.TEAM

January 27, 2025

Larnaca is set to undergo a significant transformation with over €130 million worth of development projects scheduled for completion in the next two years. These initiatives follow the collapse of a €1.2 billion port and marina project in 2024, marking a shift in the city’s future planning.

At the heart of the transformation is a new public university faculty dedicated to marine sciences, technology, and sustainable development, valued at €20 million. This project, funded by the government and the EU, is poised to reshape the area near the old Larnaca airport, pending cabinet approval in 2025.

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The city’s marina will also be revamped, with a €30 million renovation plan that includes dredging works set to begin in 2025. The municipality will soon launch an architectural competition for a new yacht club building and landscaping, with construction slated to start next year. Meanwhile, the Centre of Marine and Maritime Research Innovation (CMMI) will manage the facility temporarily until an investor is identified.

Several other projects are set to boost the city’s infrastructure and quality of life. Among them are the Tsiakkilero refugee settlement recreation park (€2.3m), Pattichion Park (€6.7m), and an elderly care home (€6m), all expected to be completed this year, alongside flood channel improvements in Livadia (€3.8m).

Looking ahead, four major projects totaling €34.6 million will break ground this year and be finished by 2026. Notably, a €23 million sustainable urban mobility plan will introduce park-and-ride facilities and cycling lanes, alongside the renovation of Livadia’s core area (€3.6m) and the historic Agios Ioannis quarter (€8m).

The commercial center’s €13.3 million transformation is progressing well, with work on historic squares and pedestrian zones expected to be completed by late 2026. Additionally, the €17 million third phase of the Larnaca-Dhekelia road project is on track to be finished next year.

However, three significant projects worth €18.5 million are facing delays, including the old hospital conversion (€10.5m), the Archaeological Park (€4m), and the Salt Lakes Environmental Information Centre (€4m), the latter of which is slated to begin in 2027.

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Lithuania And Cyprus Forge Enhanced Partnership In Tourism And Defence

by THEFUTURE.TEAM

May 22, 2026

Expanding Cooperation Beyond The Surface

Kristupas Vaitiekūnas highlighted opportunities for closer cooperation between Lithuania and Cyprus during his visit to Nicosia for the informal ECOFIN meeting. Speaking to the Cyprus News Agency, the Lithuanian finance minister said both countries share common challenges and could expand collaboration in areas including tourism, defence and financial services.

Addressing Shared Challenges

Finance Minister Kristupas Vaitiekūnas said Lithuania and Cyprus face similar security and economic pressures despite their geographic differences. Particular attention was given to emerging security threats, including drone-related risks, alongside the importance of maintaining resilient financial sectors. According to Vaitiekūnas, stronger coordination in those areas could deliver long-term economic and strategic benefits for both countries.

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Focus On Fiscal Stability And Energy Security

Discussions at the ECOFIN meeting are expected to focus on Europe’s economic outlook, energy market volatility and fiscal stability. Kristupas Vaitiekūnas warned that instability in the Middle East could continue affecting oil markets and broader economic performance across Europe. Housing affordability was also identified as a growing challenge, with rising property prices in cities such as Vilnius reflecting broader pressures seen across European markets.

Coordinated Energy Strategy And Future Investments

The Lithuanian finance minister also called for a more coordinated European approach to energy and economic resilience. Vaitiekūnas suggested that targeted and temporary policy measures could prove more effective than large-scale structural reforms in addressing short-term pressures. Lithuania continues to increase investment in renewable energy generation and storage infrastructure as part of efforts to strengthen energy independence and begin producing surplus electricity by 2028.

Support For Ukraine And Enhancing Defence Funding

Finance Minister Kristupas Vaitiekūnas reaffirmed Lithuania’s support for Ukraine, describing the war as a broader struggle tied to European security and democratic values. He also backed accelerating Ukraine’s accession process to the European Union, arguing that deeper integration would strengthen regional stability and economic prosperity. Vaitiekūnas welcomed the EU’s SAFE programme, which is expected to support Lithuania’s defence capabilities while contributing additional assistance to Ukraine.

Looking Ahead To A More Unified Europe

Addressing the European Union’s future budget framework, Kristupas Vaitiekūnas said increased funding for security and defence represented a positive development. At the same time, he warned that reductions in cohesion funding and agricultural support could negatively affect purchasing power and long-term European unity. Lithuania is expected to place continued emphasis on Ukraine and regional security ahead of its upcoming EU Council Presidency in early 2027.

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