Cyprus Property News magazine for overseas buyers & real estate investors

Sunday, May 31, 2020
Home Marinas Larnaca, Paphos and Limassol marinas delayed

Larnaca, Paphos and Limassol marinas delayed

ACCORDING to reports in the local press work on three new marinas in Cyprus has been delayed. The marinas affected are in Larnaca, Paphos and Limassol.

In July it was announced that the contract for the Larnaca marina had been awarded to the Zenon Consortium. Following this announcement objections were raised by the unsuccessful bidders DJ Karapatakis & Sons Ltd and A Vouros Investments Ltd. Although the Karapatakis objection was subsequently rejected the Vouris objection has been upheld – and a committee has been established to re-examine the situation.

In June it was announced that the contract for the Paphos marina had been awarded to Leptos. This decision is also being re-examined as it has been pointed out that the runner-up in the bidding contest (Aristo) should have been awarded the contract.

Delays with the Limassol marina are reported as being caused by problems with permits and financing. However, the chairman of the venture has confirmed that the project is still going ahead.

LOCAL WEATHER

Cyprus
few clouds
22.5 ° C
25 °
20.6 °
60 %
8.7kmh
20 %
Sun
19 °
Mon
24 °
Tue
26 °
Wed
24 °
Thu
22 °

EXCHANGE RATES

EUR - Euro Member Countries
GBP
1.1115
RUB
0.0128
CNY
0.1262
CHF
0.9360

MOST POPULAR

property tax

Property sales collapse hits all markets

The historic collapse of 80 per cent in property sales in April hit the local and overseas market segments according to statistics from the Department of Lands & Surveys.