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Larnaca Port And Marina Set For A New Development Era Under €415 Million Roadmap

Larnaca’s port and marina could enter a new phase of development under a €415 million long-term proposal unveiled by the Cyprus Ports Authority (CPA), which aims to transform the city’s waterfront into an integrated coastal district through a mix of public investment, municipal participation and private-sector partnerships.

The proposed roadmap, valued at €415 million, plus or minus 50%, would be implemented over 20 years and seeks to unlock two state-owned assets that have remained largely underutilised following three unsuccessful attempts to attract private investors.

Beyond upgrading the port and marina, the plan includes the redevelopment of around 85,000 square metres of land and the integration of Finikoudes with the former refinery area into a continuous waterfront featuring public spaces, pedestrian routes, cycling paths, squares and leisure facilities.

A Single Master Plan For An Integrated Coastal District

The CPA would retain ownership of the assets while inviting private investment through partnership agreements. Development would follow a single master plan built around three priorities:

  • redevelopment of the marina’s surrounding land;
  • expansion and upgrade of the marina;
  • modernization and long-term development of the commercial port.

The roadmap covers the period from 2027 to 2045 and begins with the preparation of a master plan, sustainability studies and consultations with local stakeholders. An architectural competition and Concept Master Plan would then establish the overall framework for the project.

The authority noted that all cost estimates remain indicative and could vary by as much as 50% until the master plan is completed.

Land Development Marks The First Phase

The redevelopment of land surrounding the marina and port represents the largest visible transformation for residents and visitors. Budgeted at approximately €190 million, the programme covers both the existing marina site and neighbouring land extending towards the port.

Early works would focus on improving public spaces, relocating the existing shipyards, upgrading road infrastructure and creating new parking facilities. Later phases envisage hotels, office buildings, restaurants, exhibition venues, sports facilities, cultural projects and other commercial developments delivered largely through concession agreements with private investors.

Marina Expansion Focuses On Capacity

The marina component carries an estimated budget of €20 million and is designed to increase capacity by 150 to 200 berths under the Growth Fund’s Scenario 2 proposal.

The programme includes maintenance of existing infrastructure, construction of a new services building, expansion of the breakwater, a new southern quay wall and additional floating docks.

Port Modernization Forms The Largest Investment

At an estimated €205 million, the port redevelopment accounts for almost half of the overall programme.

Initial investment would focus on upgrading equipment, infrastructure networks and existing facilities while maintaining uninterrupted operations. Later phases include new passenger and administrative buildings, demolition of obsolete warehouses, construction of new quay walls, expansion of commercial berths and the creation of a new harbour basin capable of accommodating both cargo and passenger vessels.

A Long-Term Vision For Larnaca

If approved, the proposal would reshape one of Cyprus’ most strategically important coastal areas over the next two decades.

By combining transport infrastructure, commercial development and public spaces under a single master plan, the CPA aims to transform Larnaca’s port and marina into an integrated waterfront district capable of supporting tourism, investment, business activity and urban regeneration.

Shein Targets $25 Billion Valuation In Hong Kong IPO As Growth Slows

Shein is reportedly targeting a valuation of around $25 billion in its planned Hong Kong IPO, a sharp decline from the nearly $100 billion valuation the online fashion retailer achieved in a 2022 fundraising round.

Two people familiar with the plans said the company was likely to target about $25 billion, while another source put the expected range at $25 billion to $28 billion based on the proposed price band.

IPO Valuation Falls Sharply

Shein plans to sell up to 8% of its shares in the offering, according to a person familiar with the plans. At a $25 billion valuation, that would translate into an IPO of as much as $2 billion.

The latest target is also below the $30 billion to $40 billion valuation the company was seeking earlier this month as it began meeting with potential investors.

Founded in China in 2012 and now headquartered in Singapore, Shein sells low-cost clothing to consumers in about 160 countries. The company is expected to launch its long-awaited Hong Kong IPO later this week.

Trade Restrictions Weigh On Growth

Shein’s valuation has come under pressure as major markets tighten rules affecting low-cost e-commerce shipments. The European Union, for example, has moved to impose additional fees on cheap parcels from platforms such as Shein and Temu. EU Tightens Rules On Low-Cost E-Commerce Parcels

In the U.S., the removal of an import duty exemption for small packages has also affected the company. Shein reported a $99 million quarterly loss in the first quarter of 2026 as sales growth slowed, while a one-time accounting charge further weighed on its results. Shein Reports First-Quarter Loss Ahead Of IPO

Investors Question Shein’s Growth Prospects

The steep reduction in valuation reflects growing concerns over slower growth, higher trade costs, regulatory pressure and stronger competition across global e-commerce.

Some investors who reviewed Shein’s recent financial statements or attended IPO presentations told Reuters they were skeptical that the company could return to the growth rates that supported its $98.2 billion valuation in 2022. Shein’s Slowing Growth Tests Investor Appetite

A lower IPO valuation could also affect Shein’s existing investors. Under the terms of its IPO filing, the company may have to issue additional shares to certain pre-IPO investors if its valuation falls below agreed thresholds.

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