Breaking news

Larnaca’s €130 Million Revitalisation Plan To Transform The City Over The Next Two Years

by THEFUTURE.TEAM

January 27, 2025

Larnaca is set to undergo a significant transformation with over €130 million worth of development projects scheduled for completion in the next two years. These initiatives follow the collapse of a €1.2 billion port and marina project in 2024, marking a shift in the city’s future planning.

At the heart of the transformation is a new public university faculty dedicated to marine sciences, technology, and sustainable development, valued at €20 million. This project, funded by the government and the EU, is poised to reshape the area near the old Larnaca airport, pending cabinet approval in 2025.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

The city’s marina will also be revamped, with a €30 million renovation plan that includes dredging works set to begin in 2025. The municipality will soon launch an architectural competition for a new yacht club building and landscaping, with construction slated to start next year. Meanwhile, the Centre of Marine and Maritime Research Innovation (CMMI) will manage the facility temporarily until an investor is identified.

Several other projects are set to boost the city’s infrastructure and quality of life. Among them are the Tsiakkilero refugee settlement recreation park (€2.3m), Pattichion Park (€6.7m), and an elderly care home (€6m), all expected to be completed this year, alongside flood channel improvements in Livadia (€3.8m).

Looking ahead, four major projects totaling €34.6 million will break ground this year and be finished by 2026. Notably, a €23 million sustainable urban mobility plan will introduce park-and-ride facilities and cycling lanes, alongside the renovation of Livadia’s core area (€3.6m) and the historic Agios Ioannis quarter (€8m).

The commercial center’s €13.3 million transformation is progressing well, with work on historic squares and pedestrian zones expected to be completed by late 2026. Additionally, the €17 million third phase of the Larnaca-Dhekelia road project is on track to be finished next year.

However, three significant projects worth €18.5 million are facing delays, including the old hospital conversion (€10.5m), the Archaeological Park (€4m), and the Salt Lakes Environmental Information Centre (€4m), the latter of which is slated to begin in 2027.

The Future Forbes Realty Global Properties

FinTech’s Dominance In MENA: Three Strategic Drivers Behind Unyielding VC Success

by THEFUTURE.TEAM

September 11, 2025

Despite facing tightening global liquidity and macroeconomic headwinds, the FinTech sector continues to assert its leadership in the MENA region. In the first half of 2025, FinTech emerged as the most resilient and appealing arena for venture capital investments, proving its worth as a catalyst for financial innovation and inclusion.

Addressing Structural Financial Gaps

In many parts of MENA, a significant proportion of the population remains underbanked and underserved by traditional financial institutions. FinTech companies are uniquely positioned to address these persistent challenges by bridging critical access gaps and driving financial inclusion. With the proliferation of payment apps, digital wallets, and micro-lending platforms, investors have witnessed firsthand how these solutions pave the way for scalable growth and eventual exits. Early-stage momentum in the region is underscored by a doubling of pre-seed deals year-over-year, reinforcing the sector’s capacity for rapid innovation and sustainable expansion.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Highly Scalable and Replicable Business Models

One of the key factors behind FinTech’s dominance is the inherent scalability of its business models. Once the necessary infrastructure and regulatory approvals are in place, these models have demonstrated robust performance across borders. The first half of 2025 saw a marked acceleration in deal activity, with payment solutions leading the charge with 28 deals in MENA—a significant increase over the previous year. Lending platforms, in particular, experienced a meteoric 500% year-over-year increase in funding, emerging as the fastest-growing subindustry. Such replicability makes FinTech an attractive proposition for investors seeking high-growth opportunities in diverse markets.

Supportive Regulatory And Government Backing

The strategic support offered by key government initiatives in the UAE and Saudi Arabia has been instrumental in propelling the FinTech sector forward. Progressive frameworks, such as the UAE’s open finance and digital asset directives, coupled with Saudi Arabia’s live-testing sandboxes, have materially lowered entry barriers for startups. These measures not only foster innovation but also streamline the path to commercialization. Consequently, the combined efforts of these regulatory bodies have enabled the UAE and Saudi Arabia to account for 86% of MENA’s total FinTech funding in H1 2025.

The resilience of FinTech in MENA is not merely a reflection of contemporary market trends—it signals a fundamental shift in the region’s economic fabric. With an unwavering commitment to addressing real financial challenges, scalable and replicable business practices, and robust regulatory support, FinTech is setting the benchmark for sustainable innovation. As capital markets become increasingly discerning, this sector stands out as a beacon of long-term growth and transformative impact.