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Larnaca's €19 Million Urban Mobility Makeover: A Game-Changer for Real Estate
August 20, 2025
How Larnaca's €19 Million Urban Mobility Upgrade Will Boost Real Estate Appeal
On 19 August 2025, Larnaca officially signed a contract worth €18.34 million (excluding VAT) with Araco Construction Cy Ltd, marking the green light for a major urban mobility upgrade that promises to reshape city life—and its real estate market. The deal was sealed by Public Works Director Eleftherios Eleftheriou, representing the Republic of Cyprus, and Mohammed Rokaya, of Araco Construction Cy Ltd.
Project Timeline & Funding
Construction is set to start in September 2025 and span 16 months, with an expected completion date in January 2027. This initiative is funded jointly by the EU’s Recovery and Resilience Plan and national resources under the framework of Larnaca’s Sustainable Urban Mobility Plan (SUMP).
Key Infrastructure Upgrades
The project is comprehensive and designed to elevate mobility, safety, and urban quality, spearheading economic and environmental sustainability:
- Road Renovation & Dedicated Bus Lanes
Complete resurfacing of key roads paired with newly constructed bus lanes and modern bus-stop infrastructure. - Cycling Lanes (≈22 km)
Construction of around 22 km of cycle paths on both carriageways and sidewalks. These will feature colored surfaces, clear signage, and physical separators such as kerbs and flexible bollards. - Pedestrian Enhancements
Upgraded pavements, zebra and Pelican crossings, and cyclist-friendly crossings to enhance walkability and safety. - Traffic Infrastructure Modernization
Installation of new traffic lights and upgrades to existing ones, complemented by improved horizontal and vertical signage. - Supporting Works
Ancillary enhancements include drainage systems, improved road lighting, sewage, water supply, and irrigation for green areas—ensuring sustainability and functionality.
What This Means for Real Estate
- Improved Connectivity = Higher Demand
Better roads, public transport, and cycling infrastructure make neighborhoods more accessible and desirable. - Lifestyle Appeal Amplified
Safer, greener, and more walkable city environments increasingly attract families and younger professionals—a growing buyer demographic. - Sustainability Sells
Eco-friendly developments resonate with modern buyers who value urban areas that prioritize environmental and social well-being. - Potential for Property Value Growth
Infrastructure investments often correlate with rising real estate values, especially in areas near new transit lines or pedestrian enhancements. - Differentiation through Strategic Marketing
Highlighting proximity to new bus routes, cycle paths, and improved pedestrian zones can make listings stand out amid competition.
Source: Cyprus Mail, 19 August 2025 – https://cyprus-mail.com/2025/0...