The island of Cyprus gains new marinas

A new marina will be built in Cyprus in just 4 years.

A new marina will be built in Cyprus in just 4 years. The final decision was taken by the Ministry of Energy, Trade, Industry and Tourism and the Mayor's Office of Paralimni, where the new harbor will be built.

According to the agreement on the construction of the facility, a part of the sea area in Protaras near the Agios Nicholas fish farm, as well as the coastal area, will be leased out on a long-term basis. The new marina is scheduled to be operational in 2021. The project cost is estimated at 110 million euros. PMV Maritime Holdings will be the main construction sponsor. The new facility will be able to accommodate up to 300 ships, and several commercial and residential properties will be built here.

The main goal pursued by the city and country authorities is the further development of the tourism sector and all related areas. The new marina, coupled with the existing ones in Ayia Napa and Limassol, should contribute to the development of the island's marine tourism. Also, the construction of the facility will help create additional jobs.

For those who are interested in the development of the island's infrastructure, the news that in the coming year, perhaps, an agreement will be signed on the modernization of the port and marina in the city of Larnaca. The port modernization was conceived back in 2007 and since then there have been several attempts to announce a tender and find investors. At the moment, issues related to the financing of the project are being resolved: as a result of a tender held last year, three foreign companies were selected, with which the working conditions are being discussed. It is expected that in March this year the ministry will make a choice in favor of one of the potential investors and by the end of the year will sign all the necessary agreements for the implementation of the project. From 2019 the port and marina of Larnaca should be at the full disposal of the investor. The result of the modernization should be the appearance in Larnaca of the largest marina on the island, which will be able to berth up to 1000 ships, including superyachts. About 510,000 sq. M have been allocated for the project. m. of land. It is assumed that in the future, the government of Cyprus will privatize the marina and port.

APL Alexander Real Estate Ltd

Are you interested in an object from our site?

We will provide a full list of services for its purchase

Manager consultant

Ekaterina Ivanova

Check out
with our Cyprus property catalog

For leisure life and investment

For long and short term rent

View catalog

More 800 objects

Private 5 bedroom luxury villa,

Cyprus, Limassol

€ 2 300 000

  • Square 850м2
  • 5 bedrooms
2 bedroom apartment 300 m from the sea

Cyprus, Limassol

€ 290 000

  • Square 78м2
  • 2 bedrooms
4 bedroom spacious villa for sale

Cyprus, Limassol

€ 1 550 000

  • Square 300м2
  • 4 bedrooms
Luxury 5 bedroom villa close to the sea

Cyprus, Limassol

Price on request

  • Square 601м2
  • 5 bedrooms