Larnaca Municipality has launched a tender for the sale of two plots located on Hermou Street in the city center. The minimum asking price has been set at €3.3 million, plus VAT.
Prime Central Assets Positioned For Value
The first parcel covers 1,285 square meters, while a second adjacent plot used as an access passage measures 30 square meters. Land Registry valuations in 2021 estimated the properties at approximately €2.25 million and €56,400, respectively. Larnaca Mayor Andreas Viras said updated assessments place their combined value above €3.3 million.
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Funding The New Municipal Hub
Part of the proceeds from the sale will be used to finance the construction of a new town hall. Completion of the project is expected in 2028. The new building will be constructed on the site of the former Larnaca Hospital near the American Academy and is estimated to cost about €8.5 million.
Optimizing Civic Assets Through Strategic Leasing
The municipality is also considering leasing the current town hall building located on Athinon Avenue and Nikolaou Laniti Avenue. Officials expect interest from private sector tenants, which could generate additional rental income for the municipality.
Comprehensive Tender Submission Guidelines
Interested parties must submit offers through the government e-procurement system by 11:00 AM on Tuesday, May 5, 2026. Bids must include either a banker’s draft or a bank guarantee. The minimum offer is set at €3.3 million plus VAT. Transfer of ownership will take place once payment is completed, which must occur within one month after the contract is signed.
Eligibility for Participation
The tender is open to both individuals and legal entities, including public organisations, private companies and joint ventures. Participants must be established in Cyprus, another European Union member state, the European Economic Area, or countries participating in the Government Procurement Agreement (GPA) or holding bilateral agreements with Cyprus or the EU. Bidders may submit offers individually or as part of joint ventures under the conditions outlined in the tender documentation.
