Larnaca Port and Marina: €415m Redevelopment Roadmap Explained
After years of false starts, Larnaca's port and marina have a new plan: a €415 million roadmap presented in July 2026 sets out phased works to 2045, including marina expansion, around 50,000 m² of land for urban uses and a unified seafront.
By RealDeal team · 3 min read · Published 6 Jul 2026 · Updated 8 Oct 2026
Contents
The redevelopment of Larnaca's port and marina, one of the city's longest-running projects, has a new roadmap. On 3 July 2026 the Cyprus Ports Authority presented a €415 million programme of phased investment over the next two decades. This article explains how the project got here, what the roadmap contains and what it could mean for Larnaca property.
How we got here
- 2024: the agreement with Kition Ocean Holdings for a joint €1.2 billion port-and-marina project was terminated amid disputes over financial guarantees.
- August 2024: the government split the port and marina into separate projects and announced up to €30 million of upgrades to the marina and surrounding area, with the port to serve mainly cruise tourism.
- 15 May 2026: at a meeting with President Nikos Christodoulides, Transport Minister Alexis Vafeades and Larnaca stakeholders, the main decisions were set. The Ports Authority takes over overall implementation, the port is upgraded into a tourist port with compatible commercial uses, the marina is expanded to add capacity for around 200 vessels, about 50,000 m² of adjacent land is developed for urban uses, and the seafront is unified.
The €415m roadmap
| Subproject | Investment | Timing |
|---|---|---|
| Port modernisation | ~€205m | To 2045; new quays, breakwater, berths and basin in 2036–2045 |
| Marina land and adjacent areas | ~€190m | 2027–2036 |
| Marina infrastructure | ~€20m | 2027–2036 |
| Total | ~€415m |
Source: Cyprus Ports Authority roadmap, via Cyprus Mail.
The first works will include landscaping and the relocation of existing boatyards from the marina to the northern part of the port. Initial port spending will go on maintenance and new operating equipment, with the major marine works coming later. The stated objective is to strengthen Larnaca's role in shipping while reconnecting the waterfront with continuous public access between the marina and the port. Vafeades has argued that running the port and marina as parallel projects allows work to progress without unnecessary delays while keeping them under a common strategy.
What this means for Larnaca property
- Larnaca is already one of the island's fastest-growing markets. In the first half of 2026, sale contracts in the district rose 11% to 2,163, edging past Nicosia, and the Central Bank recorded 8.9% annual price growth in Q1 2026.
- The horizon is long. The main land redevelopment runs from 2027 to 2036 and the port works to 2045, so any effect on the surrounding area will be gradual.
- The 50,000 m² of land for urban uses and the unified seafront are the elements most likely to reshape the city-centre waterfront over time. Their planning details are worth watching for anyone buying near the marina.