Contracts for the much delayed Paralimni Marina were signed yesterday by the Energy Minister Giorgos Lakkotrypis, investor PMV Maritime Holdings and the Paralimni Municipality.
The project, estimated to cost around €110 million, 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.
The Paralimni marina will be constructed in the area of the Agios Nikolaos fishing shelter in Paralimni, on state land and marine area and will have a capacity of approximately 300 boats. Under the agreement, PMV Maritime Holdings Ltd will manage the marina for 125 years.
The project will include administration buildings, residential and commercial developments. Based on the design, there will be 195 residential units – mostly luxury apartments – and 27 commercial spaces (restaurants, cafes, bars).
The plans detail construction of 14,250 metres for residential buildings and 2500 metres will be for commercial buildings.
The Paralimni Marina 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. Architect of the project is the British company Harper Downie.
Mr. Kountouris said that the interest of entrepreneurs in the project is indicative of the fact that already there have been agreements with 10 international and Cypriot Food and Beverage companies for the commercial premises of the first phase. There is also interest in the purchase of residential units.
The Paralimni Marina will be considered as an official point of entry into the Republic, therefore it will have facilities for port police, customs and medical services.
The marina is expected to be fully operational by mid-2021.