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Final contracts for Limassol marina signed

Yesterday Antonis Paschalides, the Cyprus Minister of Commerce, signed the two final agreements signalling the start of construction work on the Limassol marina.

Artists impression of Limassol's new marina

DURING the contract signing ceremony, Mr Paschalides referred to the huge importance that the marina is expected to have for improving the tourist product and attracting quality tourism to the Island.

In his welcome speech, the Minister noted that the government supports infrastructure projects and backs projects that opens new job posts and enrich Cyprus’ tourist product.

This day signals the start of construction work on the Limassol marina, a landmark for Limassol, for Cyprus and the Mediterranean in general. The marina is a sea settlement with special characteristics”, he said.

It can host the anchoring of thousands of vessels and includes banking up in the port space, a vessels maintenance spot, shops and a cultural centre. It also provides for free access to the public and a remarkable coastal pedestrian road”, he said.

With such infrastructure project we can deal with competition, we enrich the variety of experiences and we upgrade the quality of services that we offer. Also, we seal the attraction of quality tourism with increased spending per capita”, he noted.

The Minister thanked all those who played an important role in the achievement of the goal and expressed his confidence that “the marina will host the first vessels when Cyprus undertakes the EU rotating presidency in 2012”.

The marina will be constructed and managed under a BOT (Build-Operate-Transfer) agreement with Limassol Marina Ltd (LML); a joint venture of J&P Avax A.E., Cybarco PLC, Fraggoudi & Stefanou, Joannou & Paraskevaides (J&P), Athena ATE, Cads Holding Ltd and Limassol CCI via the Limassol Marina Development Company.

Plans for the marina complex include 586 berths for craft of various sizes, restaurants, cafes, shops and conference space. They also include 280 units (housing, trading, leisure and cultural) – some 160 of which will have their own private moorings – and luxury apartments, all with the aim of attracting more high-end tourists and a bigger share of the Mediterranean yachting market.

The project is expected to cost more than €350 million and will cover a land area of 100,000 m2, and a sea area of 170,000 m2 and will be able to host up to 1,000 vessels.

Readers' comments

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  • Jim says:

    The last proposal mentioned by the government said Larnaca was to get all the cruise ships & Limassol was going to be all container ships.

  • George,

    Cruise ships dock at the Limassol port which has facilities to handle them – and its only a few hundred metres away from the new marina.

  • george michaels says:

    This sounds all well and good but there is no mention of cruise ship facilities such as is established in other parts of the world which bring many millions in foreign currency.
    George Michaels
    Van. Canada

  • It has been 20 years since the initial studies were prepared into the five big marina projects – Limassol, Paphos, Ayia Napa (Ayia Thekla), Paralimni and Larnaca.

    I published an article on the 19th March last year reporting how they were being stalled by bureaucracy at http://www.news.cyprus-property-buyers.com/2009/03/19/cyprus-marina-developments-stalled-by-bureaucracy/id=00928 .

    Back in February 2006 it was reported that the “Cyprus Tourism Organisation (CTO) had announced that a theme park is needed to be built for the districts of Nicosia, Limassol and Larnaca. CTO officials believe that a theme park could act as Water Park and a zoo because of the island’s good climate all the year round. Already six locations are being looked into for the theme park, namely Alikis, Oroklini, Ayia Thekla, Maroni, Mazotos and Kalavassos.”

    A couple of years later the Mazatos theme park had transformed itself to become a marina plus a David Lloyd’s sports complex plus a 5-star hotel as well as the theme park.

    But then, the theme park became a ‘Disney Style’ theme park and magically transported itself to the UN buffer zone near Pyla – which was very good for the landowners and property developers in the area.

    It just goes to show that you can’t believe everything you read in the press.

  • Dave Ponting says:

    will we ever see our marina built at Ayia Thekla or was this just a ploy to get us to buy properties their

  • cyprusexpat says:

    In these difficult times, it is nice to see this project finally getting underway. This will provide a much needed extra facility to attract the quality tourism Cyprus needs to compete.

    We just hope that the rest of the projects will proceed, but we all have to remember that there is a crisis at the moment, and money is not easy to find.

    A step in the right direction!

  • Gina,

    I have heard nothing about this development since it was ‘announced’ in March 2008 with a completion of summer 2010.

    In the same announcement it said that a Four Seasons 5-star luxury hotel was being built in the immediate area along with a marina and a theme park a couple of kilometres away.

    I drove past the Aldiana on Monday and I believe it has now closed for the winter – no sign of any construction work going on in the area.

    There was also talk of a tennis academy at Liopetri in March last year, but that has gone quiet like the ‘Disney style’ theme park in the UN buffer zone near Pyla.

  • Gina Nicolaou says:

    Could you kindly send me any news surrounding the Aldianna hotel near Mazotos? Is a four Season’s hotel to be built near by? David Lloyd’s sports complex?
    Would really appreciate any news on these developements.
    Many Thanks
    Gina Nicolaou

  • Jim says:

    This project has gone from being a marina, to a property development that has a small marina. not what was promised at all.

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