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

Limassol marina on course for completion in 2012

THE President of the Republic of Cyprus, Demetris Christofias laid the foundation stone of the new Limassol marina at a ceremony held earlier this month which was attended by the town’s officials and other dignitaries.

Construction work on the Limassol Marina is already is under way and progressing rapidly and the special crane employed to dredge mud from the seabed has completed its work.

The marina project is one of the largest in Cyprus and aims to promote Cyprus position on the map as a quality tourist destination and should be ready to accept its first vessels in the autumn of 2012.

Despite the general slump in the property market, sales are reported to be doing well. The first units to be delivered in about 2 years time will be the nine blocks of apartments known as the Nerieds (sea nymphs). One bedroom apartments are selling for €450,000, two-bedroom apartments for €850,000 and the three bedroom apartments for €1 million.

At an estimated cost of €350 million, the marina will be able to accommodate all types of vessels from sailing yachts to mega yachts, ranging from 8 metres to 100 metres in length.