Larnaca’s Tourism Boom Spurs Unprecedented Investment In Development

by THEFUTURE.TEAM

October 28, 2025

Larnaca is at the forefront of a dynamic tourism boom, attracting substantial investment from both domestic and international stakeholders. Recently, the city has experienced a significant surge in development projects, signifying its evolution into a modern destination and a key player on the tourism map.

Escalating Demand And Strategic Approvals

Recent data from the Larnaca District Organisation of Local Government reveals a steady increase in tourism development applications over the last three years. Between 2023 and 2025, thirty-five permits were approved, with an additional twenty projects under review. This growth, driven by the popularity of short-term rental platforms such as Airbnb, underscores the market’s progressive transformation and Larnaca’s rising appeal.

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Efficient Governance And Sustainable Urban Growth

Authorities have highlighted that this trend reflects not only an uptick in construction but also the benefits of enhanced administrative efficiency. The streamlined licensing procedures and modernized services implemented by the EOA are designed to meet the growing developer demand while ensuring that every project meets high standards. This approach supports sustainable urban development and solidifies Larnaca’s reputation as a destination of choice.

Strategic Investment In Key Areas

Investment is notably robust along the Larnaca–Dhekelia coastal corridor, where ongoing road reconstruction and landmark projects like Larnaca: Land Of Tomorrow are reshaping the region. This strategic corridor, and neighboring areas such as Pervolia and Kiti near the airport, are emerging as vital economic zones. These projects are not only elevating the city’s profile but also paving the way for its next phase of urban expansion and economic vitality.

Conclusion

Larnaca’s current development trajectory confirms its position as a major tourism and business hub. With a strong foundation of efficient governance, strategic investment, and rising demand, the city is poised to continue setting new benchmarks in sustainable urban and tourism development.

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Cyprus-Based ASBIS Hits Record $1.05bn In Monthly Revenue, Up 216% Year On Year

by News Editor

October 21, 2026

The technology distributor ASBIS Group, headquartered in Limassol, has exceeded $1 billion in monthly sales for the first time in its history, reporting preliminary consolidated revenue of $1.05 billion in September 2026, more than three times the amount recorded a year earlier.

The figure represents a 216% increase from $332 million in September 2025, making it the highest-revenue month in the company’s history.

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ASBIS reported its strongest sales growth in servers and server components, while CEO Serhei Kostevitch pointed to growing demand for artificial intelligence solutions and computing infrastructure as an opportunity for the business.

For a company operating across Europe, the Middle East and Africa, September marked a new sales milestone following several months of substantial year-on-year growth.

Kostevitch attributed the record performance to the group’s existing operations, highlighting its broad product portfolio, international market presence and strong relationships with manufacturers and trading partners.

“Most importantly, this result is the outcome of our regular operating activities,” he said.

The CEO also highlighted the company’s portfolio of projects as a reason for confidence in continued AI-related development.

However, the group’s growth was not limited to AI-related technologies. Smartphones also performed strongly in September, with Kostevitch stressing that “we are growing beyond the AI segment as well.”

Kazakhstan, the United Arab Emirates and Ukraine accounted for the largest shares of ASBIS’s September revenue, followed by Slovakia and Poland.

Growth Follows Record First Half

September’s results follow a period of strong financial performance for ASBIS.

In July, the company reported preliminary consolidated revenue of $531 million, an increase of 89% compared with the same month in 2025. August brought a further rise to $604 million, up 91% year on year.

September’s $1.05 billion figure represents a substantial increase on both months, although the company has not provided a detailed breakdown explaining the acceleration.

The results also follow a record first half of 2026, when ASBIS generated approximately $2.97 billion in consolidated revenue, up 76% year on year.

Net profit after tax reached $80.6 million, compared with $19.4 million in the same period in 2025.

The second quarter was particularly strong, with revenue reaching $1.69 billion, an increase of 78.7%, while quarterly net profit more than tripled to $44.3 million.

ASBIS has emphasised that its September revenue figures are preliminary estimates and may differ from the final reported results.

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