Shaul Keinan on the Palm Beach Resort in Larnaca and his vision for the city

"We share the same vision. To place Larnaca on the map of the top destinations in the Mediterranean through a landmark project, which will be a community that will combine hospitality and high-standard living with sustainability," explains Shaul Keinan, co-director and partner of Premium Access Group.

He was speaking to IN Business magazine in an interview that went beyond the scope of a typical one-on-one chat, going into everything from the reasons that brought the company to Cyprus, and specifically to Larnaca, to what he wanted to see changed to facilitate investment.

The interview took place looking out over Larnaca Bay from the rooftop of the luxurious Waterfront Residences, specifically from the spot where in less than a year the elevated swimming pool exclusively for the residents of the residential development will be located, next to the Palm Beach hotel, also under construction.

Amidst the buzz of the construction frenzy for the also took part in the tour, being breifed by his partner - with the same zeal as always - about the progress of the work.

Premium Access Group co-founders Evgeni Leibovich (L) and Shaul Keinan (R)

With perfectionist investor Keinan leading the way and infusing us with his enthusiasm, which is completely compatible with the celebrating life philosophy - always wearing the necessary safety equipment - we explored almost every corner of the resort and learned even the smallest detail.

From the square footage of the rooms and the material of the frames to the type of bread that will be served at breakfast, a fact that convinced us that the only sure thing in this project will be that nothing will be left to chance.

Let’s begin with the way you “discovered” Cyprus. Please tell us the story of how it begun.

I first visited Cyprus a few years ago during a financial transaction we were involved in. What immediately struck me was the island’s unique blend of history, friendly and deep culture, and natural beauty. As I spent more time here, I experienced firsthand the rapid development and immense potential of Cyprus and Larnaca in particular.

What led to your focus in Cyprus market?

Cyprus presents a strategic advantage, bridging Europe, Asia, and the Middle East, with a stable and clear legal and tax framework that supports investment. Its ongoing modernization efforts, a highly educated workforce, and a focus on sustainability align perfectly with Premium Access Group’s values and investment philosophy. Cyprus, especially in the hospitality and real estate sectors, is a growing market with significant opportunities, making it an ideal fit for our expertise.

What factors influenced your decision to invest in Larnaca? Do you see advantages and opportunities in comparison to other cities?

Larnaca’s transformation, particularly the dismantling and the relocation of the gas refineries, presented a rare opportunity to redefine its coastline. Its strategic location—just 30 minutes from the capital—and the presence of the International Airport position Larnaca as a gateway to Cyprus. While other cities in Cyprus are more established, Larnaca remains underdeveloped in the luxury segment, creating a unique opportunity to make a lasting impact. Its cultural richness, the continuous development of modern infrastructure, and untapped potential make it a compelling destination for both business and tourism.

Which are your current investments in Larnaca? Do you have plans for more investments in the area?

Our flagship project is the transformation of the Palm Beach Resort into a luxury mixed-use development. Additionally, we are investing in the Goldfish area, where we are creating a unique residential project. Our vision extends beyond individual developments—we aim to enhance the entire coastline by connecting Palm Beach Resort and the Goldfish Residential Development.

This will create a dynamic space featuring activities, beach bars, and public facilities, inviting residents and visitors to engage with the area. By blending luxury living with accessible public spaces, we hope to foster a sense of community and transform Larnaca’s coastline into a vibrant destination. This approach aligns with our broader vision to position Larnaca as a key Mediterranean hub for both tourism and business.

What is your vision about Palm Beach Resort both as a project and what you wish to add in Larnaca’s status as a tourist destination?

Palm Beach Resort is more than just a development; it’s a vision to put Larnaca on the map of premier Mediterranean destinations. Our goal is to create a landmark that combines luxury, sustainability, and community engagement. This vision is reinforced by our partnership with Thanos Hospitality Services, a leading name in Cyprus' luxury hospitality industry. Their expertise in managing world-class resorts ensures that Palm Beach Resort will set new benchmarks in service, elegance, and guest experience.

The project aims to honor Larnaca’s rich heritage while introducing a modern, luxurious experience that elevates its status on the global tourism map. We envision the resort as a hub for relaxation, entertainment, and high-end living, contributing significantly to the local economy and community. With state-of-the-art facilities, fine dining, wellness amenities, and public access to a beautifully developed coastline, Palm Beach Resort will create an inclusive space that attracts tourists, supports local businesses, and enhances Larnaca’s international reputation.

How have you adapted to the mentality of doing business in Cyprus? Do you see differences in comparison to other countries where Premium Access Group do business?

Doing business in Cyprus has been so far a positive experience. The business community here places great value on relationships and trust, which resonates with our approach. Even while navigating bureaucracy, I have always appreciated the willingness of public servants to assist and provide support whenever possible. Compared to other markets, Cyprus offers a unique blend of opportunity, cultural connection, and personal fulfillment, making it a rewarding place to operate.

An investment involves collaboration with local stakeholders and communities. What has been your experience with local businesses, government agencies and the community?

Our collaboration with local stakeholders has been incredibly positive. Local businesses have shown great enthusiasm, and government agencies have been proactive in supporting our projects. A key highlight has been working with the local municipal authorities, whose vision, openness to innovation, and genuine support for development are driving Larnaca’s transformation.

We must also acknowledge the Mayor, whose dedication and unwavering commitment to the city’s growth have been truly inspiring. His motivation and leadership not only drive Larnaca’s progress but also inspire and encourage us to contribute to the city’s development with even greater determination.

This spirit of collaboration has been instrumental in aligning our goals with the aspirations of the community, ensuring that our investments contribute not only to economic growth but also to the quality of life for residents and visitors alike.

Do you plan to invest also in the other areas of Cyprus and other sectors than this of hospitality?

We are actively exploring opportunities in other parts of Cyprus, particularly in residential and commercial real estate. Beyond hospitality, we are also interested in sectors such as offices, education and senior housing.

What would you like to see changing to facilitate the foreign investments into the country?

To further attract and support foreign investments, streamlining bureaucratic processes is essential. Simplifying permits, approvals, and regulatory requirements would make the investment process more efficient and appealing to international investors.

Additionally, enhancing infrastructure is crucial. The development of more international schools, senior living facilities, and healthcare services would significantly benefit expatriates and professionals looking to relocate with their families. These improvements would not only create a more supportive environment for foreign investors but also contribute to Cyprus becoming a more attractive destination for long-term residence and business growth.

Investments thrive in a well-rounded ecosystem, and addressing these gaps would ensure that Cyprus continues to grow as a competitive and sustainable investment hub. Such changes would strengthen the country's position as a preferred destination for global talent and capital.

Give as a full description of the mixed-use development of Palm Beach Resort

The Palm Beach Resort is a transformative €110+ million mixed-use development, poised to redefine luxury and sustainability in Cyprus. Scheduled for completion in summer 2026 and set to open its doors in the summer of the same year, the resort will stand as a landmark of innovation and elegance, offering an unparalleled blend of hospitality, community, and eco-conscious living.

The project has been brought to life under the visionary design of renowned architect Eraclis Papachristou, who conceived the concept, and Christodoulos Christodoulou of IQONA Architects, who leads the project’s execution. Construction is being expertly handled by Psaras Constructions, ensuring every detail is realized to the highest standards. Complementing this remarkable team, the operations of the resort’s luxurious five-star hotel will be managed by Thanos Hospitality Services, a leader in Cyprus’ hospitality industry known for creating extraordinary guest experiences.

At the heart of the Palm Beach Resort is the philosophy of "Celebrate Life." This vision extends beyond the boundaries of traditional hospitality to create a vibrant community-centric destination. The development will feature a five-star hotel, water-front residences, a residential tower, bungalows, fine dining restaurants, entertainment venues and a state-of-the-art wellness center. By integrating public spaces and activities, the resort aims to invite both residents and visitors to connect, unwind, and enjoy moments of celebration and relaxation.

Sustainability is a cornerstone of the Palm Beach Resort. Designed with energy efficiency and environmental harmony in mind, the project incorporates green technologies, sustainable building practices, and an eco-friendly approach to construction. These efforts ensure the resort not only enhances the local environment but also sets a benchmark for sustainable luxury in the region.

More than just a development, the Palm Beach Resort is a catalyst for community engagement and economic growth in Larnaca. It will create significant employment opportunities, boost the area’s global profile, and provide a modern yet timeless destination that invites people to live, connect, and celebrate life in its fullest expression.

Could you please tell us a few words about Premium Access Group and Premium Access Cyprus?

Premium Access Group was founded in 2013 by Evgeni Leibovich and myself. As a family office, the company focuses on strategic, value-added investments, primarily in the real estate sector. Our expertise spans leveraged buyouts (LBO), complex real estate financing transactions, and the co-development of both commercial and residential properties. Our operations extend across Europe and Israel, with a diverse portfolio that includes residential, commercial, and industrial properties.

Our romance with Cyprus began about 3.5 years ago with a financial transaction in Larnaca. Since then, we’ve transitioned from purely financial operations to becoming actively involved in development, acquiring strategic properties, particularly along Larnaca’s coastline. This shift inspired the establishment of Premium Access Cyprus, our local arm that leads transformative projects like the iconic Palm Beach Resort.

Can you tell us more about your academic background and describe your entrepreneurial journey in a few words?

I am co-manager and partner of Premium Access, with more than 15 years of experience in the real estate and financing industry. I am responsible for the day-to-day operation of the company as well as the company’s investment and transaction strategy, financials, site selection, design and conceptualization. Prior to joining Premium Access Group, I held senior legal and managerial positions in leading hi-Tech, financing and real estate firms.

I hold a Master of Law (extinguished) and MBA (Αccounting) from Tel Aviv University and the Hebrew University, respectively.

(Source: InBusinessNews)