HERMES Airports Ltd, the consortium in charge of operating and managing Larnaca International Airport, and Far Eastern Phoenix, a chinese controlled entity, have signed an agreement providing for a massive investment involving the construction of exhibition showrooms and a logistical services centre at the old Larnaca airport building.
Far Eastern Phoenix plans to develop the old Larnaca airport with a large commercial showroom for Chinese products and a logistics centre. The project will include exhibition areas, re-import of products and a small conference centre.
The project intends to render Larnaca old airport as a hub connecting Chinese products with Europe, Africa and the Middle East. It is contemplated that the investment will accommodate around 3000 companies which will promote their products and services in state of the art facilities.
The investment is expected to rejuvenate the surrounding region and provide dozens of new workplaces for Cypriots and foreigners.
The old Larnaca Airport premises will be leased for a concession period of not less than 19 years, although an extension of the lease may be possible upon approval by the Cyprus government.