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Limassol marina open for business

President Nicos Anastasiades presided over the official opening ceremony of the Limassol marina on Thursday describing it as “a jewel for Limassol and for Cyprus” according to media reports.

Limassol marinaWHILE four of the five big marina projects in Cyprus have been stalled by legal battles and bureaucracy, the Limassol marina was officially opened yesterday.

During his address, President Anastasiades said that the new state-of-the-art project would place Cyprus on the map, especially for tourism, and that the marina would employ 800 people directly and indirectly and contribute millions to the state and the economy.

The Limassol Marina is considered to be among the most important and luxurious marinas in the wider Mediterranean region and the Middle East. It has been described as the “Monte Carlo of Cyprus” and is comparable to Marina Grande in Capri and the Dubai Marina.

According to the French architect, Xavier Bohl, the marina plan was based on the Marina of Monte Carlo in Monaco model and Port Grimaud in St Tropez.

The marina has a berthing capacity of 650 for vessels ranging from 8 to 115 metres in length along with 74 villas and 162 apartments, together with parking for 750 vehicles.

In addition there are 12 restaurants including Pyxida Fish Tavern, Wagamama, TGI Friday’s, Pizza Hut, KFC, Derlicious, Caffé Nero, Hobo Mediterraneo and Marina Cool Bar, Breeze Group’s Crystal Marina Lounge, one of Carob Mill’s restaurants, Calma Café.

A yacht club, shopping facilities, spa and fitness facilities are expected to open during the course of this month and next.

Estimated to have cost around €300 million, the marina, is being managed under a BOT (Build-Operate-Transfer) agreement. Limassol Marina Ltd (LML), the joint venture company which owns the project, will manage the marina for 53 years and will retain profit rights for a further 37 years.

The new marina welcomed its first residents last year and its facilities are now open to both residents and tourists.

Readers' comments

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  • aggis demetriou says:

    Little too late, where’s the casinos?

  • @Peter Davis – I believe any vessels trying to enter any port in the south (including Limassol) from the occupied areas will be refused entry.

  • Peter Davis says:

    So if these big boats owners arrive in Limassol from a marina in the North, will they still get fined?

    Cyprus an international country open for business?

  • @Deanna – It’s a private venture not a public one – and you forget about the government income generated from tourism and taxes.

    Check out Bank of Cyprus loan for Limassol marina.

  • Deanna says:

    Another B-O-T venture which means – like the airport, that the state won’t see a penny for another two generations.
    I don’t see anything to cheer about here.

  • @M Hannah – How many in the video?

  • M Hannah says:

    That`s good I Can already see TWO & a Half Boats in The Picture.

  • Costas Apacket says:

    Presumably this could be used as another route for covertly moving funds out of the country and beating the capital controls currently in place?

  • The views expressed in readers' comments are not necessarily shared by the Cyprus Property News.

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