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 Expects More French Visitors In 2027 As Air Capacity Expands

by THEFUTURE.TEAM

September 18, 2026

Cyprus expects more French visitors in 2027 as airlines increase capacity between the two countries, Tourism Deputy Minister Kostas Koumis said after meetings with tour operators in Paris.

France, one of Cyprus’ key tourism markets, has had a difficult 2026. French arrivals fell 46% year over year to 8,453 in August, from 15,663 a year earlier, according to the Statistical Service of Cyprus (Cystat). August arrivals were also nearly 50% below the 16,798 recorded in the same month of 2024.

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Overall, Cyprus received 2.82 million tourist arrivals between January and August, down 7% from the same period in 2025.

Air Connectivity Supports 2027 Outlook

Koumis discussed the 2027 outlook with senior executives from tour operators offering Cyprus holidays during the IFTM Top Resa travel trade fair in Paris.

Higher air capacity between France and Cyprus was a key focus of the talks. Participants also discussed the impact of geopolitical tensions in the Middle East on the French market and Cyprus’ efforts to adapt its tourism offering to French travelers.

“The French market is undoubtedly an extremely important market for our country’s tourism,” Koumis said, adding that France had regained importance only a few years ago and still had room to grow.

Improved air connectivity will be an important factor in that expansion, according to Koumis. “It is now clear that air connectivity between France and Cyprus is improving significantly, which is a basic prerequisite for the further growth of the market,” he said.

Cyprus Promotes Tourism And Regional Cooperation

Koumis attended the opening of IFTM Top Resa at the invitation of French Tourism Minister Serge Papin, who later visited the Cyprus stand. Held from Sept. 15 to 17 at Paris Porte de Versailles, the event brought together more than 32,000 tourism professionals representing 177 destinations and 1,650 brands, according to organizers.

During his visit, Koumis also met Egyptian Tourism Minister Sherif Fathy. Cyprus and Egypt reaffirmed their tourism cooperation and discussed opportunities to strengthen ties further.

French media interviews covered Cyprus’ tourism offering, infrastructure and services, along with efforts to develop specialized tourism products. Regional instability weighed on arrivals in 2026, particularly during the spring, although the decline narrowed over the summer.

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