Cyprus Property News magazine for overseas buyers & real estate investors

Saturday 4th July 2020
Home Marinas Larnaca marina and port progressing

Larnaca marina and port progressing

Larnaca marina and port projectAFTER visiting Larnaca on Monday Communications and Works Minister Marios Demetriades announced that the process of preselecting the successful bidder for the development of the Larnaca marina and port should be completed before the end of the week.

The announcement follows more than 25 years of delays caused by legal wrangles and bureaucracy and the withdrawal of the consortium awarded the contract in 2008 because it failed to find the necessary funds.

Last month it was announced that five proposals of interest from various joint ventures had been received although the interested parties were not named.

A new plan for the Larnaca marina and port was announced by the Transport Ministry in January 2017 and the marina is set to be the largest in Cyprus hosting up to 1,000 vessels.

The project will involve the development of up to 510,000 square meters and could include the construction of a large number of small to medium-sized apartments, a few luxury villas, a hotel, offices and a commercial centre.



EUR - Euro Member Countries


Commission approves Cyprus’ airlines incentive scheme

The European Commission has approved a €6.3 million Cypriot incentive scheme towards airlines affected by the coronavirus outbreak, supporting tourism and possibly the overseas property market.

Cyprus property sales recovering

Property sales in Cyprus showed signs of making a recovery in June following the Government's easing of lockdown measures and its decision to subsidise housing loans.

Cyprus tightens grip on ‘golden passport’ scheme

Cyprus has not processed any passport applications of a foreign investor since January, pending the approval of tougher criteria regulating the Citizenship for Investment Scheme.

Guide to residency in Cyprus

This guide to residency in Cyprus for UK nationals has been issued by the British High Commission in Nicosia to explain the importance of obtaining or updating their residency status.