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Israeli Investors Plan Residential And Tourism Project In Trozena

Overview Of The Development Initiative

An Israeli consortium has submitted plans to redevelop the abandoned community of Trozena in the Limassol district, with proposals including 60 residential units, a campsite and a winery. The project has drawn attention from local stakeholders and social media users as planning authorities begin reviewing the applications.

From Abandonment To Investment

Development plans focus on transforming the largely abandoned village into a mixed residential and tourism destination. According to submitted proposals, the 60 residential units would be concentrated within the historic core of the community, while separate areas would be allocated for a campsite and winery facilities. The proposed winery and tourism infrastructure are intended to support visitor activity and broader investment in the area.

Regulatory Scrutiny And Environmental Concerns

Local authorities confirmed that the planning process is underway. Giannis Tsoulophtas said the applications are currently under review. Part of the area falls within the Natura 2000 ecological network, triggering additional environmental assessment requirements. Cyprus’ Environment Department has requested further information regarding the project’s potential impact on protected flora and fauna covered under EU environmental legislation.

Planning And Zoning Implications

Current H1 zoning regulations allow residential development of up to three storeys and a maximum building height of 11.4 metres, subject to floor area and density requirements. However, Natura 2000 protections may require additional environmental impact studies before final approvals are issued.

Community And Investor Dynamics

Public reaction to the project has been mixed. Some local commentators have raised concerns about foreign investment in historically significant communities, while others argue that redevelopment could revive an area that has remained largely abandoned for years. Separate applications for the residential units, winery and campsite indicate a phased development approach as the consortium advances the project through the planning process.

Next Steps And The Future Of Trozena

Authorities are expected to continue reviewing the proposal following environmental and planning assessments. The outcome could influence how similar redevelopment projects are evaluated in environmentally protected areas across Cyprus.

Eurobank Wins Two Euromoney Awards Following Cyprus Merger

Eurobank has been named Cyprus’ Best Bank for 2026 by Euromoney, while also receiving the award for Best Bank for Large Corporates at the publication’s latest Awards for Excellence.

Merger Marks A Milestone

The awards recognise the bank’s performance during 2025, a year marked by the completion of the legal merger between Hellenic Bank and Eurobank Cyprus. The transaction created Eurobank Limited, which the group says is now Cyprus’ largest banking and insurance organisation, with assets exceeding €28 billion.

Euromoney’s Awards for Excellence evaluate banks’ performance over the previous calendar year, with this edition covering January 1 to December 31, 2025.

Lending, Customers And Digital Growth

Eurobank said its business lending portfolio expanded by around 17 per cent during 2025, while its customer base grew to more than 710,000 retail clients and 11,500 business customers.

The bank also continued its digital expansion, saying more than 96 per cent of transactions are now completed through digital channels, and most financing applications are submitted via its mobile app.

Expanding International Presence

Eurobank also highlighted the opening of its first representative office in India, describing the move as a step toward strengthening business links between Cyprus and India while supporting Cyprus’ role as a gateway to the European Union for Indian businesses and investors.

According to the bank, Euromoney recognised not only the successful completion of the merger but also its lending growth, digital transformation and contribution to Cyprus’ position as an international business and investment hub.

CEO On The Awards

“The Euromoney awards confirm Eurobank’s strong momentum and the successful implementation of our group’s strategy in Cyprus,” Chief Executive Michalis Louis said.

He said the merger strengthened the bank’s ability to support households, businesses and the wider economy, while highlighting continued investment in digital services and the opening of the representative office in India as key milestones during the year.

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