Lefkaritis Group, BBF and Foster + Partners announce their strategic collaboration for the "Land of Tomorrow" project in Larnaka

Lefkaritis Group, BBF and Foster + Partners announced their strategic collaboration for the 1st phase of the “Land of Tomorrow” project, a visionary beachfront community development set to transform the former industrial area along Dekelia Road in Larnaka. 

The event announcing the collaboration took place on the 8th of July, at the site of the first phase of the project in the presence of the President of Cyprus, Mr. Nikos Christodoulides, the President of the House of Parliament Μs. Annita Demetriou, the Mayor of Larnaka, Mr. Andreas Vyras, ministers, and other officials.

The "Land of Tomorrow" project, whose masterplan was designed by Foster + Partners, the renowned UK architects, aims to create a vibrant and sustainable beachfront community that includes a diverse range of residential options. The development will also feature extensive retail spaces and shopping streets, providing residents and visitors with a variety of shopping and dining experiences. The project includes plans for a range of restaurants and bars, a luxurious 5-star resort hotel, a state-of-the-art conference centre, private offices, co-working spaces, and event spaces, catering to both residents' needs and attracting international and local visitors.

Emphasizing sustainability, the development integrates natural, ecologically enhanced beachfronts, a network of green spaces, cultural amenities and recreational facilities. A key feature of the project is the creation of a new pine forest, with an expected 20,000 trees to be planted, enhancing the local ecosystem and providing a green haven for the community. The project also includes sustainable infrastructure to ensure long-term environmental benefits.

The first phase of the project, which is planned as a part of the strategic collaboration with BBF and Foster + Partners, will be developed on the beachfront. This phase will feature a residential complex consisting of four buildings, offering an impressive variety of facilities for residents such as pools, gyms, saunas, kids' areas, and more, totalling over 32,000 m². The building design phase has just commenced, with construction slated to begin in the last quarter of 2025. Pre-sales are expected to open in October 2024, with construction taking approximately 2 to 2.5 years. Concurrently, the rest of the project will be designed.

Mr. Dinos Lefkaritis, CEO of Lefkaritis Group of Companies, Mr. Vadim Romanov, CEO and Founding Partner of BBF and Mr. Ben Scott, Senior Partner at Foster + Partners, highlighted the project's vision and its transformative impact on Larnaka in their presentations during the event.

In his address, Mr. Lefkaritis described the moment as historic for the evolution of the Petrolina Group, emphasizing that the Land of Tomorrow, with the creation of a coastal community focused on sustainability, will become a landmark in the entire area, attracting young people and businesses from everywhere. "Our vision is for this area to be transformed from an industrial zone into an entirely new destination that will enhance the valuable contribution of the city. As the natural evolution and expansion of Larnaka, it will be the legacy of the Lefkaritis family and a significant positive impact for future generations and the region," Mr. Lefkaritis stressed.

Mr. Vadim Romanov, in his address at the event, shared that “This is an exciting project that inspires and motivates us immensely. It is a big challenge, but our joint vision is to transform the former industrial zone as you have known it to date into one of the most attractive beachfront communities in the Mediterranean. We are fully confident that this sustainable and progressive development will have a positive impact on the surrounding area, the economy, and on the evolution of our country for years to come.”

Ben Scott, Senior Partner, Foster + Partners, said: “We are delighted to start bringing our vision for Larnaka to life. The first phase of the masterplan creates a sustainable beachfront community with shops, offices, and restaurants on the doorstep. Residents will enjoy spectacular views of the sea and direct connections to the natural surroundings.”

The Mayor of Larnaca, Mr. Andreas Vyras, referring to the significant role that Petrolina has played for decades in supporting the economy of Larnaka, expressed his satisfaction with the planned development of the area, assuring his support for this direction. "This is the Larnaka we want to see in the future," he said.

The President of the House of Representatives, Ms. Annita Demetriou, in her address, assured her support for this great effort, thanking the Lefkaritis family for their significant contribution to the development of Larnaka and all of Cyprus. "It is a project that will boost the island's economy and give a new perspective to the city. Larnaka deserves and is entitled to it," said Ms. Demetriou.

The President of the Republic, Mr. Nikos Christodoulides, mentioned that this important project marks a new beginning for the city of Larnaka, representing a clear prospect for new dynamic urban development, and he welcomed such serious and reliable investments. "This collaboration is the best and strongest vote of confidence for the implementation of the project," he emphasized.