CONSTRUCTION work on the €350 million Limassol marina is running at full speed according to a statement issued by Limassol Marina Limited.
Nine blocks of apartments known as the Nerieds (sea nymphs) are at an early stage of construction. Many have already been sold to Russian, European and Arab investors. Prices for one bedroom apartments start at €450,000 and two bedroom €800,000. Work has also started on an underground car park that will accommodate 700 vehicles.
A special crane is being employed to dredge mud from the seabed to allow a solid foundation to be constructed for an artificial island, on which a number of villas will be built. Prices for these villas have yet to be released.
Restoration work is continuing on the Trakasol warehouse that will provide a cultural centre and a space to host the Hanseatic Nautical School.
Other plans for the marina complex include boutiques, restaurants, cafes, shops and conference space, all with the aim of attracting more high-end tourists to the island and a bigger share of the Mediterranean yachting market.
If all goes according to plan the marina will be ready by 21st October 2012 and will able to accommodate around 600 craft of various sizes.