How new additions are reshaping the Cyprus marina map (pics)

Cyprus' marina "map" is changing as, in a few years, the island is expected to list seven in total.

Both the marinas that are in operation and those that are under construction are major development projects that are attracting the interest of local and foreign investors.

It is worth noting that the first marina to operate on the island is the one in Larnaca, which in 2022 entered a stage of reconstruction and renovation through a €1.2 billion investment, the largest in Cyprus.

The next new addition to the Cyprus marina map will be the Paralimni Marina which will be fully completed in 2024.

Below are the marinas that are under construction:

Paralimni Marina

Paralimni Marina is on track for completion with the development project already taking shape, and according to its schedule, anticipated to be fully completed in the summer of 2024, while the first phase is expected to be completed by the end of 2023.

This is €100 million investment, the development agreement of which was signed in 2017 between the Ministry of Energy, Trade, Industry and Tourism and PMV Maritime Holdings Ltd, which is the project's construction and management company.

Paralimni Marina, even before its completion, has managed to become a pole of attraction for investors. With its opening, it is expected that it will give further impetus to the district of free Famagusta, contributing significantly to the upgrading of the tourist product and in general to the promotion of maritime tourism in Cyprus as a whole.

Upon its full completion, it will be able to accommodate 300 boat berths. However, with the completion of the first phase of the project, at the end of 2023, the marina will be able to accommodate 150 boats.

It will also consist of 195 residential units, the majority of them apartments, as well as 27 spaces for commercial use, such as restaurants, cafes, bars, and shops. During the first phase of the project, a total of 44 residential units and the commercial zone will be delivered.

Latsi Marina

The harbour at Latsi is already operating and able to accommodate 200 small boats. However, construction projects for its expansion will begin within 2024, with the aim of creating Latsi Marina which will be completed in 2026.

With the expansion and construction of the marina, 350 berths will be created for large vessels as well as berthing for cruise ships.

In addition, recreational areas will be created.

The Marina in Latsi is considered to be a very promising project, as it is anticipated to boost Polis Chrysochous and the surrounding areas.

Paphos Marina

The first efforts to create a Marina in Paphos began in 1990 and since then there have been many and lengthy delays, while in the last year, the issue has occupied the Government and the competent bodies.

However, in the summer of 2023, the topic for the construction of the Paphos Marina seems to have started to "get back on course."

Paphos Marina is expected to have a capacity of approximately 1,000 boats and will include more than 42,000 sq.m. of residential and commercial developments.

The redevelopment of Larnaca Marina

Larnaca Marina was the first marina in Cyprus and has been operating since 1973, while before that it was a small dock that mainly served fishing boats.

In 2022, the commercialisation of the port and Marina of Larnaca progressed to the implementation stage. The management of the project was undertaken by Kition Ocean Holdings Ltd in a grand investment of €1.2 billion.

The redevelopment is to be completed in four phases and over a period of twelve years, which will radically change the image of Larnaca.

The aim of the redevelopment is for the Larnaca Marina to be able to serve and accommodate all types of ships, yachts, and businesses. Upon completion of the redevelopment, it will have a capacity for 650 berths for various vessel lengths from 5 to 125 meters.

It will also be able to host small and large private and public events on its premises. At the same time, the Marina will have 150 parking spaces.

It is noted that it opened for the public at the end of October 2022, after for some years operating mainly only for boat owners. So far, repairs have been made to the promenade, and a restaurant, cafe, and children's playground are open.

The marinas already operating today

Currently in Cyprus, Limassol Marina, St. Raphael, the Ayia Napa Marina as well as the Larnaca Marina which, as mentioned above, is undergoing renovation, are operating.

(Source: InBusinessNews)