- Cyprus Property News Magazine - http://www.news.cyprus-property-buyers.com -

Ayia Napa marina moves forward

Ayia Napa Marina - SourceG. Caramondanis Investments Ltd

Ayia Napa Marina – Source G. Caramondanis Investments Ltd

THE CONSTRUCTION of the marina at Ayia Napa has taken a step forward with news that the Ministry of Energy, Trade, Industry and Tourism has received a €25 million bank guarantee from M.M. Makronisos Marina Ltd. for the proper execution of the work.

A few days ago permits for the division of the land were approved for the marina’s road network and the infrastructure needed such as parking areas, green spaces and public walkways.

The mayor of Ayia Napa, Yiannis Karousos, expressed his satisfaction with this latest development saying that the submission of the bank guarantee signalled the start of the construction phase of the project. The construction of the marina will provide more than 800 jobs and, when completed, it will need 350 people to manage its operation.

The marina is expected to cost €220 million and will have a capacity of around 600 vessels, with a possibility of mooring large yachts up to 60 metres in length. The project will include residential and commercial developments, a hotel, restaurants, bars, cafes, boutiques along with administration offices for its management and operation.

When it’s completed in mid-2018 the marina will be declared official entry point to the Republic.

But the marina has not been without its critics.

A conservation group, Protection of the Natural Coastline, has questioned why the marina cannot be built next to the existing small harbour rather than in the heart of the Ayia Thekla-Liopetri Natura 2000 network, the destruction of which will be irreversible.

Some local residents and business owners are also concerned about the potential impact the new marina will have on the area’s prized beaches.