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.
€350m for the marina. Is this all Government money or is it being funded entirely from the sale of the flats to overseas “Arab investors”.
The Government is bankrupt and still spending money on lost causes?
Who with a yacht would want to visit Limassol when there are so many beautiful islands in the Med.
Is there any further news on the status of the Paphos Marina after the Supreme Court threw the problem back to the Tender Council or administrative committee to resolve last September?
@Martin – search for Paphos marina to find all related news articles.
Well done on the construction for Limassol marina, but tell me what happened to the Agia Napa marina that is not started ?
@Stuart – I published a progress report on the marina projects a few months back. Try searching for Agia Napa marina in the search bax near the top of the page.
It is amazing how a large marina project has now become a property development with a small marina attached.