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New Larnaca-Dhekelia Road Opens After 26 Years Of Planning

After more than 26 years in the making, the new Larnaca-Dhekelia road has officially opened to traffic, marking the completion of a major infrastructure project for the district.

Valued at €14.8 million, the third phase includes a 3.25-kilometre four-lane carriageway and 4.5 kilometres of service roads, improving access to one of Larnaca’s busiest coastal areas.

Final Works Continue

Larnaca District Public Works Engineer Lazaros Lazarou said the main carriageway has been fully open to traffic since July 24, extending to the Pyla roundabout.

Construction of the remaining service roads, which were added after revisions to the original contract, is expected to be completed by the end of October.

Work on the project began in September 2022 and was initially scheduled for completion in March 2025. Following an extension, the road was completed in mid-July 2026.

Boost For Connectivity And Investment

According to Lazarou, the new road will improve road safety, enhance accessibility and create opportunities for further investment in the area. He also highlighted the addition of dedicated cycling lanes, reflecting the growing emphasis on sustainable transport.

Welcoming the opening, Larnaca Chamber of Commerce and Industry President Nakis Antoniou said the project ends years of waiting and delivers a major improvement for residents, businesses and visitors.

Cyprus Loan Growth Accelerates To 14% In September

Lending in Cyprus accelerated in September, with the annual growth rate of total loans reaching 14%, up from 11.8% in August. Deposits also recorded a stronger monthly increase, according to the Central Bank of Cyprus (CBC).

Total deposits rose by a net €697.1 million to €60.2 billion at the end of September. Total loans increased by €857.8 million to €29.6 billion, according to the CBC’s October 2026 Monetary and Financial Statistics.

Deposit Growth Strengthens

Deposits recorded a monthly increase of €697.1 million, more than four times the €171.5 million rise in August. However, the annual growth rate remained unchanged at 6.5%.

Deposits held by Cyprus residents increased by €639.9 million. Household deposits rose by €93.8 million, while deposits held by non-financial corporations grew by €373 million. Other domestic sectors contributed a further €173.1 million.

Annual Loan Growth Reaches 14%

Total loans increased by a net €857.8 million in September, compared with €114.6 million in August. The annual growth rate accelerated to 14%, up from 11.8% a month earlier.

Lending to Cyprus residents rose by €470.8 million. Loans to households increased by €52.2 million, while lending to non-financial corporations grew by €110.1 million. Other domestic sectors recorded a larger increase of €308.5 million.

The figures cover deposits and loans held by monetary financial institutions in September 2026.

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