Larnaca’s Skyline Transforms: First High-Rise Towers Emerge After Oil Tank Removal

October 11, 2025

The rapid development in Larnaca is bringing the first towers, with demand reaching its peak, mainly due to the removal of the oil and gas storage facilities from the former refinery area. Prompted by the construction of the city’s tallest building and the ensuing discussion about large developments, ‘Phileleftheros‘ requested data from the Licensing Authorities and from companies preparing towers estimated at up to €300 million.

The Department of Town Planning stated that it has not issued permits for towers in Larnaca, but the Director of Town Planning gave his consent for 12 applications handled by Larnaca Municipality for the erection of buildings from 15 to 30 storeys. It is noted that the Director of Town Planning offers opinions when a development includes more floors than permitted, which will not be the case in the area of the former refineries, as the Area Plan allows buildings with a height of 69 metres. Larnaca Municipality, on its part, has granted two tower permits that are currently being implemented, as well as at least three others that did not proceed. The Larnaca District Self-Government Organisation informed us that it has not yet granted any permits for a tower, but it currently has seven applications before it for buildings over 20 storeys.

The conclusion is that there is still no clear picture regarding the full extent of high-rise construction in Larnaca, which will become clearer when all applications for developments in the former refinery area are submitted. However, it is a fact that some large developments, details of which are listed below, have either started or are at a very advanced stage.

Marigate Larnaca
A tower approximately 60 metres tall, which is currently the city’s tallest building, is being erected near Larnaca Port. This is the Marigate Larnaca development by Marinakis Property Developers (Cypriot business people), which is expected to be completed before the end of 2026. The company’s operations manager, Antonis Marinou, stated that the company was the first to submit an application for a tower in Larnaca in 2017. “There was a delay in licensing from Larnaca Municipality, but they finally gave us the green light after many consultations. We started underground work in 2022, and work above ground began in 2023. At the moment, we have already finished the building’s frame and are proceeding rapidly.”

This is a €12 million development that will consist of nine luxury apartments. “Sales in this particular building are already at an advanced level. It is the tallest residential building under construction in Larnaca province, including a reception with a lounge area on the ground floor, covered parking on the first floor, gym facilities, and an environmentally friendly A-class rated building,” Mr. Marinou noted.

Lumina Mare

Procedures for the erection of the Lumina Mare project by Shajwawi Lebovich Karekla (SLK) Developments Ltd, located near Larnaca Port, began this month. It is a mixed-licensed development, costing €40 million, concerning the erection of a 19-storey tower that will reach 65 metres.

According to information from the company, the tower is expected to be completed in 2.5 years. The development includes 54 residences with sea views, all above the 7th floor. The company states that “residents will enjoy indoor and outdoor gym facilities, a pool and bar on the 19th-floor rooftop, and commercial spaces on the ground floor, with restaurants, cafes, and luxury shops.

Horizon Towers

SLK is also planning the erection of an ambitious project with six towers in Livadia, on a site near the former refinery, approximately 400 metres from the sea. This is a residential and commercial project of approximately €200 million, which will include 528 residential units, luxury restaurants, commercial spaces, swimming pools, a gym, a spa, and a padel court.

The development includes:

Horizon 1 and 2: Two 20-storey towers (86 metres) with 99 apartments.

Horizon 3, 4, and 5: Three 17-storey towers (75 metres) with 85 apartments.

Horizon 6: A 16-storey tower (70 metres) with 77 apartments.

According to the company, the town planning and building permits for the project are expected around mid-2026, while the first phase (Towers 1 & 2) is scheduled for completion in the fourth quarter of 2029. “Horizon Towers is being developed by SLK Developments, a global leader in residential developments, with over 17,000 units delivered worldwide,” the company notes.

Aqua Residences

Last June, the Environmental Authority conditionally approved the environmental study for the construction of two 68-metre towers by the Israeli-interest company Solvin Ltd, next to the Larnaca Nautical Club on the Dhekelia road.

The €40 million Aqua Residences project foresees the construction of two towers with 114 apartments, a swimming pool, a gym, a spa, and public green areas. The conditions set include the reclamation of the eroded land before the town planning permit is issued, as approximately 40% of the plot has subsided due to coastal erosion. Furthermore, the coastline must be monitored for at least 6 months.

The company stated that it will start the beach reclamation process in the spring of 2026, and the erection of the towers is expected to begin at the end of the same year.

[Source : https://in-cyprus.philenews.co... ]