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Larnaca in twin tourism boost

Friday, 15 August, 2008

Overseas property investors look to Larnaca with its golf developments, multi-million pound marina and new airport.

As the country's economy continues to grow, and the capital Nicosia continues to develop at a rapid pace, investors are enjoying a new confidence in Cyprus.

Much of this new impetus seems to be focused on Larnaca, where new golf resorts are springing up and a new super marina suitable for luxury yachts and a whole host of associated development are also in the pipeline.

The climate now appears suitable for further bold investment. The city is to have its port redeveloped to become a major cruise hub for the eastern Mediterranean, with Zenon Consortium, which owns the Costa and Louis cruise lines, being awarded a grant of almost £800 million from the Government to carry out the work.

Alongside this will be the creation of new five star hotels, leisure and retail outlets, and a new airport is planned for 2009.

Such factors will undoubtedly help to improve the overall appeal of Larnaca, which could make it even more tempting to property investors.

The other development is that budget airline Monarch is to start running a twice weekly service from Birmingham to Larnaca, which will start March 29th 2009, and fly Wednesdays and Sundays, drastically improving visitor access to the island.

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