Paralimni Marina project advancing towards completion

The much awaited Paralimni marina project is taking shape, and exciting developments are under way as building moves forward at an incredible pace.

This ambitious project, which has attracted the interest of investors, will change the way Cyprus views maritime leisure. According to the anticipated schedule, the project is on track to be finished in its whole by the summer of 2024, with the first phase scheduled to be unveiled by the end of 2023.

This €100 million investment began when the development agreement was signed in 2017, marking a significant milestone. This agreement started the process, which was facilitated by the Ministry of Energy, Commerce, Industry, and Tourism and managed by PMV Maritime Holdings Ltd, the designated construction and management firm.

The project's anticipated transformational effects on the larger Famagusta district are eagerly anticipated. This effort is poised to increase Cyprus's overall appeal as a maritime tourism destination by reviving the local tourism industry. A significant project contributor, Nicolaides & Kountouris Metal Company Ltd, recently posted eye-catching images on its social media platforms showcasing the project's advancement, demonstrating their dedication to development.

The Paralimni Marina will have an amazing 300 boat berth capacity when it is finished. There will be capacity for 150 boats in the first stage of development, which is expected to be finished at the end of 2023, setting the ground for an amazing makeover.

In addition to its maritime infrastructure, the marina will eventually hold 195 residential units, most of which will be contemporary apartments. 27 commercial areas will also function as thriving hubs for cafes, bars, boutiques, and eateries. A total of 44 homes and the active commercial zone are expected to materialise as the first phase develops.

This development's partnership with the prestigious Ferretti Group is an important feature. The group intends to open numerous offices throughout Cyprus, but the Paralimni Marina will serve as the group's prominent headquarters, highlighting the project's importance on a larger scale.