HomeNews MenuLatest News & UpdatesWork to start on Ayia Napa marina

Work to start on Ayia Napa marina

Ayia Napa MarinaMAKRONISOS Marina Ltd, a unit of the Caramondani Group, said that it signed an agreement with Greece’s Terna A.E. for the construction of a marina in Ayia Napa with a capacity of 600 vessels over a 30,000 square-metre area worth €220 million.

Construction work, expected to take five years, is scheduled to begin on September 30, the company said in an emailed statement on Wednesday.

The contract with Terna, signed on Tuesday in Nicosia, “concerns the first stage of construction work, which include harbour and infrastructure works, the construction of which will take about three years,” Makronisos Marina said. Terna chairman Dimitrios Antonacos and Gerasimos Caramondanis and Stavros Caramondanis signed the agreement.

A separate tender for the second stage of the construction works which will include residential and commercial developments, such as “two towers and villas,” will follow, the company said. “Construction works are estimated to create 800 jobs by contractors and subcontractors and further 200 persons will be employed to operate the project”.

“The ambitious project is expected to offer new dynamism to the local economy and Cyprus’s tourism product in general,” Makronisos Marina said.

Ayia Napa’s mayor Yiannis Karousos was quoted as saying that “the Ayia Napa marina is the basis of materialising our vision and make Ayia Napa the best and most cosmopolitan tourist resort in the Mediterranean”.

RELATED ARTICLES

1 COMMENT

  1. Well Prague is the city of a hundred spires Cyprus will soon be the island of hundred marinas.

    Soon if you want to go to the Troodos mountains you will have to go to a marina because that were they will be, in the sea holding up all the moorings.

Comments are closed.

Essential Due Diligence

While buying property in Cyprus holds many opportunities, it also comes with risks. Carrying out due diligence before signing a sale agreement is essential to safeguard your investment, avoid legal complications, and ensure peace of mind.

Top Stories

Property Transfer Fees

Transfer fees are charged by the Department of Lands and Surveys (DLS) when the full legal ownership of a property is transferred to the purchaser. (In some cases this process can take many years, causing angst & frustration for buyers.)

EUR - Euro Member Countries
GBP
1.1676
RUB
0.0103
CNY
0.1292
CHF
1.0580

Capital Gains Tax

Capital Gains Tax (CGT) is generally 20% on the taxable gain from selling immovable property - and it can also apply to certain disposals of shares in companies holding real estate on the island, subject to applicable exemptions and deductions.

Elsewhere in Cyprus Property News