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

by THEFUTURE.TEAM

September 22, 2025

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.

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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.

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Bank of Cyprus Upgrade Signals Fresh Optimism For Greek And Cypriot Banks

by THEFUTURE.TEAM

June 26, 2026

Regional Banks Enter A More Favorable Cycle

Bank of Cyprus and Eurobank are well positioned to benefit from a renewed re-rating of Greek and Cypriot bank stocks, according to Cyprus-based investment firm Roemer Capital, which upgraded Bank of Cyprus to a buy rating and reaffirmed its positive view on Eurobank.

The firm cited easing geopolitical tensions, resilient economic growth in Greece and Cyprus, lower funding costs and Greece’s expected transition to developed-market status as the main factors supporting the sector.

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Roemer Capital also lowered its cost of equity assumptions, updated its forecasts following first-quarter 2026 results and extended its valuation horizon to the end of 2027, raising target prices across its banking coverage.

Bank Of Cyprus Gets The Largest Upgrade

Bank of Cyprus received the biggest revision, with Roemer Capital upgrading the stock from hold to buy and setting a target price of €11.10, implying potential total upside of 27%.

The firm highlighted the bank’s strong capital generation, profitability and projected 100% dividend payout, describing it as the strongest capital-return story among the banks under coverage. Roemer Capital maintained its buy rating on Eurobank, assigning a target price of €4.90 and forecasting potential upside of 28%. The report said the bank is well placed to benefit from loan growth, improving operating performance and merger-and-acquisition synergies.

National Bank of Greece and Piraeus Bank also retained buy ratings, with expected returns ranging from 25% to 36%. Optima Bank was upgraded to buy, while Alpha Bank remained at hold on valuation grounds.

Why Growth Still Sets The Region Apart

According to Roemer Capital, Greek and Cypriot banks continue to benefit from stronger economic fundamentals than many western European peers. The report pointed to faster economic growth, healthier balance sheets, low levels of non-performing exposures, capital ratios approaching 20% and strong customer deposit bases.

Analysts expect performing loans across the sector to grow at a compound annual rate of 6% to 8% through 2028, supported by private investment, digitalisation, green manufacturing, supply-chain expansion and a gradual recovery in household lending.

The report also said the conclusion of lending under the EU Recovery and Resilience Facility is unlikely to materially affect credit growth, as banks have already shifted back towards traditional commercial lending. Roemer Capital expects Euribor to remain between 2.2% and 2.5%, a level it believes should support both lending activity and net interest margins.

Geopolitics, Valuation And Market Structure Support The Case

The report said improving geopolitical conditions have strengthened the investment outlook, noting that Brent crude prices have largely returned to pre-war levels while Greek government bond yields have stabilised at around 3.5%. Although geopolitical risks remain, Roemer Capital believes the likelihood of a major inflationary shock or significant pressure on bank profitability has eased.

Another important catalyst identified by the firm is Greece’s expected promotion to developed-market status by FTSE Russell, STOXX and MSCI over the coming months.

According to the report, the reclassification should improve liquidity and attract a broader base of international investors. Roemer Capital also said Euronext’s acquisition of the Athens Exchange is expected to strengthen market infrastructure and increase international visibility, particularly for Bank of Cyprus and Optima Bank.

The firm noted that Bank of Cyprus has already benefited from its Athens listing, with average daily trading value increasing from less than €400,000 before its September 2024 move to nearly €6 million afterwards.

Economic Momentum Remains A Core Tailwind

Roemer Capital said both Greece and Cyprus have moved beyond post-crisis recovery and are now supported by private-sector-led growth. For Cyprus, the report highlighted recent tax reform and efforts to simplify the legal and regulatory framework, while also noting that limited foreign banking competition continues to support domestic lenders.

Overall, Roemer Capital expects Greek and Cypriot banks to remain well-positioned for profitable loan growth over the coming years.

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