Contracts for the Larnaca port and marina project are expected be signed later this year according to Marios Demetriades, the Cyprus Minister of Transport, Communications and Works.
Contracts for the construction of the Paralimni marina have been signed; with an estimated capacity of 300 vessels and at a cost of €110 million, the marina is expected to be fully operational by mid-2021.
Fifty two decisions by the Cyprus Consumer Protection Service relating to unfair contracts have been languishing at the Legal Service for two-and-a-half years instead of being brought to court.
Cyprus' replacement Specific Performance law, which came into force in 2011, provided that contracts of sale that were signed but not been lodged at the Land Registry to be lodged within six months of the law coming into force.
The Cyprus Parliament voted unanimously on Friday to adopt EU legislation on bank contracts for the purchase of property, which will provide consumers with a higher level of protection.
Yesterday Antonis Paschalides, the Cyprus Minister of Commerce, signed the two final agreements signalling the start of construction work on the Limassol marina.
