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The coastal town of Larnaca, close to the island’s major international airport is grabbing the good news headlines once again with announcement of another new luxury hotel development financed by an Iranian investor. The mayor, Andreas Louloudjiatis, in welcoming this investment said it was part of a plan to invite investors to take part in the development of Larnaca into an up to date European destination. Judging from the interest from overseas investors it is an attractive proposition. The mayor also pointed to Larnaca’s expansion into the niche market of sports tourism. Earlier in the year the European Universities Volleyball Championship had been held at Phinikoudes Beach whilst the famous Cyprus Rally had its start and finish in Larnaca. Permission for the project has already been granted by the town council with the plans having been drawn up by the local architect’s office of Sotiris Agapiou. The three storey building will provide around 40 luxurious rooms and will include, amongst other things, an indoor swimming pool, a roof garden and dining terrace.
Construction will commence as soon as a building contractor has been selected to undertake the works. The hotel will be located a short distance away from St. Lazarus Church.
Rezidor Hotel Group is investing in Larnaca with a new Radisson Blu hotel and serviced apartment complex which is due to open in 2017. The site is on the beachfront and construction is already underway. This will boost hotel room capacity in Larnaca by a further 105 rooms.
At the end of 2015 a Russian backed €80 million luxury hotel development is due to get underway on the seafront at Phinikoudes Beach in Larnaca which will include improvements to Larnaca’s palm tree lined promenade. Apart from the spate of new hotels opening in Larnaca there is also plenty of self-catering accommodation for visitors and a great variety of activities ranging from diving and sailing schools to sea sports and sites of historical interest. With all the current and proposed improvements and investment in the Larnaca area the demand for property is likely to increase with a corresponding rise in prices.
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