Who at least once did not pass by fuel tanks on the shore of Larnaca-Dhekelia. Despite their contribution to the economy, they have long been decommissioned, and their gradual removal opens up an extensive coastline.
To exploit it, Petrolina Holdings, which owns most of the area in question, has set up a team of four to… develop a master plan. Members of the group – Andreas Lefkaritis, Giorgos Aggonas, Nikos Gavriil and Panagiotis Herakleous – spoke about “Tomorrow’s Land for Larnaca” in a joint interview.
Petrolina, as a business in Larnaca, will contribute to the development of the city. It continued with the demolition of the oil tanks and the handover of Vasiliko’s equipment in January 2020. The dismantling of liquid fuel tanks, including the group’s recently acquired liquid fuel tanks, proceeded at a rapid pace, while the LPG will be moved to Vasiliko once installation is completed there.
Thus, our group, as a dynamic organization that adapts and changes, intends to use the tracts of land that were used as fuel terminals with the aim of creating an extensive unobstructed coastline that will not resemble anything from the previous image of the area.
Largest urban regeneration
The development of seafront land on the Larnaca-Dhekelia road will be part of the largest urban redevelopment of Larnaca, possibly even Cyprus, providing new and important opportunities for investment and use in the fields of tourism, culture, entrepreneurship, innovation and the environment.
It is expected that this area will become a reference point on the architectural map and generally improve the image of the country at the international level.
The image of the city, the development of which has been delayed, will radically change. The limited supply of residential areas has played a key role in this delay. Until recently, the landmarks – the boundaries for the city were the airport on the one hand and the fuel terminals on the other. With the removal of fuel terminals and the creation of new urban areas, a huge space for development is being created.
Like our plan, the other major development projects are well received and are giving a huge boost to the economy, both locally and nationally. A dynamic is being created that spreads across all industries with many positive effects.
And somewhere here there is an obstacle of bureaucracy. In investments, small or large, any delay adds cost and risk. The key role in the success of the upcoming investments is played by the efficiency and flexibility of the state apparatus, in which, as you know, there is always room for improvement.
District of the Future
The Petrolina Group is currently focused on the coastal front, not excluding other investments in the wider area. However, we hope that many projects will be implemented within the boundaries of the district, which will make the municipality of Larnaca the center of large business projects. The proceeds from these projects can be used to further improve the quality of life of residents.
In addition, the project is expected to accelerate economic development and, when fully implemented, will create several jobs compared to the previous use of the area. The construction phase will also create many jobs.
Our vision is to develop, over the next few years, a region of the future where everyone wants to live, work and visit.
Project Profile “Land of Tomorrow in Larnaca”
The group’s TOR and master plan commissioning processes are at an advanced stage and are expected to be completed within the next few weeks. The goal is to appoint an international architectural firm with many years of experience in planning such developments. Completion of the design is expected during 2022.
The aesthetics of the architectural elements that will be used will make the Larnaca area a reference point on the architectural map and generally improve the image of the country at the international level. There is a particular focus on green development and innovation, as well as high-tech construction with a wide range of uses such as residential and hotel complexes, leisure and entertainment centers, sports facilities and business centers.
The size of the project can be several hundred million. The main principles of its design will be the predominance of greenery and open spaces with the adoption of strict environmental planning principles, access to modern infrastructure, as well as connectivity with surrounding areas so that the Earth of Tomorrow is easily accessible to everyone.
Master plan team
To develop the master plan, a four-person Petrolina Group management team was formed, which included Andreas Lefkaritis, Giorgos Aggonas, Nikos Gavriil and Panagiotis Herakleous. These are leaders with great experience, able to carry out the implementation of this huge project.
The aim of the group is to work closely with all relevant authorities, mainly the Municipality of Larnaca, as well as with the help of external specialized consultants, to develop a concrete plan for the best use, use and exploitation of the property.
Among other things, the group is also evaluating possible strategic partnerships to achieve synergies and economies of scale.