HomeMarinasParalimni marina enters final development phase

Paralimni marina enters final development phase

Paralimni Marina, described as the largest and most emblematic infrastructure project undertaken by the Municipality of Paralimni-Deryneia, has entered its final phase of development, signalling a new era of growth for the entire Famagusta district.

According to an official municipal announcement, the port and harbour works have now been fully completed. Construction activity is currently concentrated on the commercial and residential components of the scheme, with works progressing at an intensive pace and in line with the agreed timetable.

In parallel, the building that will accommodate Police and Customs Services is expected to become operational within the coming month. The marina’s fuel station is also scheduled to commence operations during the same period, marking another key milestone in the project’s delivery.

Paralimni Marina is regarded as a large-scale, complex and strategically significant investment for the region. Once fully operational, the marina is expected to play a pivotal role in upgrading the quality of the local tourism offering, while strengthening the wider economic performance of both the municipality and the surrounding area.

The development is anticipated to enhance the region’s profile as a modern, international destination for nautical tourism, attracting yacht owners, visitors and property investors alike. As the project moves steadily towards completion, local authorities view the marina as a cornerstone initiative that will support sustainable growth and reinforce Famagusta’s position within Cyprus’ competitive coastal real estate and tourism markets.

With major infrastructure already delivered and final works advancing, Paralimni Marina is poised to become a defining landmark for the district’s future development.

RELATED ARTICLES

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