The first towers are expected to be acquired by Livadia Larnaca, in which there has been unprecedented development recently, due to the removal of oil tanks from the area of the former refineries.
This is a residential and commercial development called Horizon Towers, which has a preliminary cost estimate of €200 million. and will be implemented by the company Shajwawi Lebovich Karekla (SLK) Developments Ltd. The project includes a total of 6 towers with 528 residential units, luxury restaurants, commercial spaces, swimming pools, gym, spa and padel stadium.
It is noted that SLK is planning investments in Larnaca that will far exceed €250 million. The company is in the process of implementing two projects (Lumina Mare tower and Horizon Towers project), while it recently bought the site where the former Beau Rivage hotel was located.
According to information, the Larnaca Provincial Self-Government Organization (EOAL) recently issued a planning permit for the first phase of the Horizon Towers project, which includes two towers that will be erected in an area in Livadia, near the former refinery, about 400 meters from the sea. "We have granted a planning permit for two 84-meter buildings that will have 20 floors and a 27-meter building with 6 floors," the president of EOAL, Angelos Hatzicharalambous, told "F", noting that an application for a building permit was also submitted, which is being examined.
He also clarified that the blocks fall under the Central Multifunctional Core of the Former Refineries Area Plan. "According to provision 17.3 of the amending approved plan of 2023, the maximum height of the buildings in this area can reach up to 90 meters," he added. It is noted that the two towers will be the tallest buildings in Larnaca when completed.
"F" asked for details of the development from the company SLK, which said that the procedures for the first phase of the project, which includes the Horizon 1 & 2 towers, have already begun. The 20-storey towers will include a total of 99 apartments, shops, a swimming pool, a children's play area and green spaces. As we were told, 57 apartments have already been sold since the first towers.
As far as the second phase is concerned, it is expected to start after 2030. This will include the remaining 4 towers, Horizon 3, 4 & 5, which will be 17 storeys and Horizon 6 which will be 16 floors. At this stage, according to what is included in the design, two more swimming pools, an outdoor refreshment area, as well as a parking space for 427 vehicles are expected to be created.
The company's first major project to be completed in Larnaca is expected to be a 19-storey tower called Lumina Mare, which has begun to be erected near the port. This is a mixed licensed development, which will reach 65 meters and will have a cost of about €40 million. According to the company, the development includes 54 residences, indoor and outdoor gym facilities, a swimming pool and rooftop bar on the 19th floor, and commercial spaces on the ground floor, with restaurants, cafes and luxury stores.
Regarding the purchase of the former Beau Rivage hotel, SLK told our newspaper that it will announce its plans at a later stage. This is a coastal plot on the borders of Pyla, in which in previous years a grandiose investment of €120 million had been announced by a fund of American interests, which, however, was never implemented.
As it was announced at the time, the plans included the creation of two hotels (four-star and five-star), 88 apartments and 10 villas. The first towers are expected to be acquired by Livadia Larnaca, in which there has been unprecedented development recently, due to the removal of oil tanks from the area of the former refineries.
This is a residential and commercial development called Horizon Towers, which has a preliminary cost estimate of €200 million. and will be implemented by the company Shajwawi Lebovich Karekla (SLK) Developments Ltd. The project includes a total of 6 towers with 528 residential units, luxury restaurants, commercial spaces, swimming pools, gym, spa and padel stadium.
