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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DISY Calls For Faster AI Adoption In Cyprus To Boost Business Competitiveness

by THEFUTURE.TEAM

November 12, 2026

Cyprus needs to move beyond announcing artificial intelligence ambitions and focus on integrating the technology into businesses, public services and the wider economy, Democratic Rally (DISY) president Annita Demetriou said.

Speaking at a press conference titled “Artificial Intelligence, Competitiveness and Economic Growth”, Demetriou warned that Cyprus risks falling behind despite strong public interest in AI.

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Cyprus Faces An AI Adoption Gap

More than four in 10 people in Cyprus used AI in the previous year, placing the country among Europe’s leaders in individual adoption. However, local businesses rank near the bottom in AI use, while citizens also lag in advanced digital skills.

“The problem is not the people or the businesses. It is the policy gap. And policy must close it,” Demetriou said.

She criticised the government’s ambition to make Cyprus a regional AI hub, arguing that it lacks sufficient planning for energy demand, clear budget commitments and effective workforce reskilling measures.

Six Priorities To Accelerate AI Adoption

DISY outlined six priorities to turn AI into a driver of economic growth:

Reskill Workers: Establish funded training programmes supported by tax incentives.
Support Businesses: Offer tax incentives and exemptions to encourage AI integration.
Attract Investment: Bring international companies with significant AI operations to Cyprus.
Modernise Public Services: Connect government systems, reduce bureaucracy and improve services.
Secure Affordable Energy: Ensure sufficient capacity and competitive electricity prices for digital infrastructure and data centres.
Protect Rights: Safeguard personal data, privacy and human rights through effective oversight.

“Our answer is not to stop technology. Our answer is to ensure no one is left behind. Reskilling becomes a social policy priority,” Demetriou said.

Public-Sector Reform Is Essential

Konstantinos Mountoukkos, who oversees digital policy, research and innovation on DISY’s Council for Monitoring Government Work, argued that AI adoption requires changes to public administration, not just new technology.

He called for secure interoperability between government systems, a move from pilot projects to practical implementation and stronger safeguards against inaccurate outputs, privacy breaches and cybersecurity threats.

Mountoukkos also urged the government to modernise technology procurement. Digital projects should have clear objectives, timelines and measurable results, including their cost, time savings and impact on public services.

Skills Will Determine Cyprus’s Competitiveness

Michalis Ioannidis, head of DISY’s Council for Monitoring Government Work, described AI adoption as a social policy priority. DISY spokesperson Onoufrios Koullas warned that without adequate training, Cyprus could lose ground in workforce productivity and economic competitiveness.

The party said it would present further proposals on managing the risks associated with AI and digital life at a future press conference.

The central challenge for Cyprus is to turn public interest in AI into wider business adoption, a more skilled workforce and measurable improvements in public services.