Dorita Yiannakou
Imagine a brand-new city rising where Larnaca's old oil refineries once stood, a world-class medical campus opening in Nicosia and a new international school welcoming nearly 2,000 students in Limassol. These are just some of the landmark projects now waiting for the final approvals before construction can begin.
Large-scale residential, tourism, and leisure developments across every district of Cyprus are awaiting final approval from the relevant authorities before they can secure the necessary permits and move into the construction phase.
The projects represent investments worth hundreds of millions of euros and are expected to boost economic activity, create new jobs and upgrade Cyprus' residential and tourism offering. They include major housing developments, hotel complexes, tourist resorts, educational facilities, hospitals, commercial projects, and leisure developments, all of which are expected to move forward once the required procedures have been completed.
Larnaca
The most expensive project by far, and one that has attracted considerable public attention in recent months, is Land of Tomorrow, which is planned for the site of the former Larnaca oil refineries.
With an estimated cost of more than €500 million, the project aims to transform the former refinery site along the Larnaca-Dhekelia seafront into a sustainable mixed-use community.
The development is being promoted by the Petrolina Group, in partnership with the Lefkaritis Group, bbf, and the architectural firm Foster + Partners.
The proposal includes residential buildings, offices, retail outlets, and leisure facilities, as well as an urban hotel with a conference and exhibition center and a luxury hotel.
According to the Environmental Impact Assessment submitted to the Environmental Authority, later planning stages are also expected to include cultural facilities such as a museum dedicated to the history of the refinery and fuel distribution, along with art spaces including galleries.
The project is expected to be built in five phases over approximately 15 years, with a preliminary estimated cost of €533 million. According to the study, the phased approach will allow construction to progress gradually in line with the timetable and completion of each individual component.
The development is intended to completely regenerate the former refinery site by removing abandoned industrial infrastructure and replacing it with a modern, functional, and attractive urban destination. It is also expected to significantly improve the area's appearance while making it more attractive to both residents and visitors.
Land of Tomorrow at the former Larnaca refineries, which is expected to cost more than half a billion
Limassol
A €40 million investment is planned for the construction of a unified educational campus in the community of Pyrgos, Limassol district.
Information submitted to the Environmental Authority in May states that the proposed private school will include pre-primary, primary, secondary, and high school education, together with sports facilities that meet the Ministry of Education's requirements.
According to the project's architects, construction will be completed in a single phase and is expected to take approximately 22 months, once licensing procedures are completed.
The investment is being promoted by the global education group GEMS Education.
The school is expected to employ around 100 staff, receive approximately 20 visitors per day, and accommodate up to 1,875 students, including 250 pre-primary pupils, 750 primary school pupils, and 875 secondary school students.
The aim of the project is to create an integrated educational campus that meets the area's growing educational needs while enhancing the community's urban and social character.
Investment of €40 million. for the construction of a single educational complex is planned in the community of Pyrgos in the Limassol district
Paphos
An €11 million residential development known as Coral Valley is also in the pipeline in Peyia.
The project, which includes its own biological wastewater treatment plant, is expected to be completed within five years of receiving all the necessary permits.
The development will consist of 68 residential units built to high standards of quality, functionality, and comfort, together with wastewater treatment facilities designed specifically to serve the community.
Owned by HARBOURSHORE ESTATES LTD, the project will cover approximately 8,057 square meters, with a total built area of 5,796.79 square meters.
Plans include 125 bedrooms, several apartment buildings, detached villas, and luxury homes, along with multiple private swimming pools with a combined capacity of more than 320 cubic meters.
The project combines apartment blocks and detached residences of various sizes, placing particular emphasis on modern residential infrastructure and private leisure facilities.
The project also includes an independent three-storey house (Villa M3BS) with three bedrooms, with a total area of approximately 129 sq.m.,
Nicosia
The Environmental Authority has already approved the construction and operation of the Hadassah Healthcare Park, a private mixed-use medical development within the municipality of Lakatamia.
Following the recent opening of Hadassah Medical Center Limassol, the first official medical centre of Israel's historic Hadassah Medical Organization anywhere in Europe outside Israel, the focus now shifts to the €150 million Hadassah Healthcare Park in Nicosia, promoted by Osopil Ltd.
The development will combine a private hospital, a university, and biotechnology office space, with the aim of supporting both medical education and economic growth in the area.
According to the Environmental Authority, the project is expected to create new jobs and strengthen Lakatamia's socio-economic profile.
Construction is expected to take around two years.
The development will include a five-story private hospital with 156 inpatient beds, outpatient clinics, a mechanical services floor and a basement level.
It will also feature a five-story medical university capable of accommodating up to 900 students, a five-story biotechnology office building, and a six-story student residence with ground-floor parking.
Solar panels will also be installed on the rooftops of the buildings.
