The final design of the Paralimni Marina was revealed and construction work has begun.
The plan details that Paralimni Marina will have space for 300 yachts with all the necessary support services, a reception area for yacht owners and their crews, fuel, special yacht equipment stores etc. As an official point of entry into the Republic of Cyprus, it will have facilities for port police, customs and immigration services as well as medical services. The main feature of the waterfront will be the promenade and a blend of carefully selected retail shops, cafes, bars and restaurants. The residential quarter of the development will be a mix of 123 waterfront apartments and a number of exclusive villas with a beach park.
The carefully considered architectural style and landscaping will create an intimate relationship with the waterfront whilst respecting the beauty of the natural environment and deliver an appealing and relaxing waterfront environment that is connected to its surroundings by the beautiful coastal path.
The project, estimated to cost around €110 million, consists of 14,250 metres of residential buildings and 2,500 metres of commercial buildings. The Paralimni Marina, fully funded by Cypriot investors, is a partnership between PMV Maritime Holdings Ltd and J & P (Joannou & Paraskevaides) Marina Projects Ltd, who manage marinas in Britain, as well as Nicolaides & Kountouris Metal Company Ltd.
As a particularly important infrastructure project, it is anticipated to contribute to the upgrading of the tourism infrastructure of the Famagusta district and to the promotion of nautical tourism in Cyprus in general. According to the President of the Republic, this project is another tangible proof of the significant developments in the tourism sector in the last years such as the numerous new hotel units, the casino resort, the marinas of Ayia Napa, Limassol and golf courses. The Paralimni Marina is expected to deliver multiple economic and social benefits to the local community as well as the wider Famagusta region. An indication of that is the high interest in the purchase of the residential units and the fact that agreements have already been made for the commercial use of the premises.