A massive new marina project is underway in Larnaca.
On Wednesday, November 8, a representative of the Kition Ocean Holdings consortium said that the port will have a new passenger terminal by 2027.
He mentioned that providing better services and innovative ideas is one of the main goals of the management company. He also mentioned that the opening of the modern terminal will give a boost to the cruise sector in the city.
For the convenience of passengers visiting Larnaca, the new terminal will be connected to the coastal road leading to Finikoudes Beach. The project will include sophisticated technology and innovative infrastructure to accommodate the most modern cruise ships, as well as optimizing operations for smooth disembarkation and embarkation of passengers," Kition Ocean Holdings stressed.
Recall that plans to privatize and renovate the marina have been frustrated by years of delays and the unwillingness of investors to participate in the endeavor.
Back in 2010, the government struck a deal with the Zenon consortium for a €700 million project to transform the existing port and marina. The consortium was unable to raise the necessary funds, although the government extended the deadline to 2015, when the deal was eventually canceled. The reason at the time was cited as the recession and the 2013 banking crisis.
A new tender was later announced. The winner of the tender was the Cypriot-Israeli consortium Kition Ocean Holdings. According to the contract, the state leased the port and the Larnaca marina for 40 years, and the real estate on their territory for 125 years.
The cost of the project is estimated at 1.2 billion euros.
It was decided to divide the realization of the project of the integrated development of the port and marina into several phases.
The first phase includes the creation of the necessary infrastructure, including a new road with a sidewalk for pedestrians from the Finikoudes promenade to the marina, and landscaping for the convenience of tourists and residents of Larnaca. Boat owners will have more opportunities to service their yachts, including a special mobile application. The marina will be expanded to accommodate an additional 600 berths for yachts up to 115 meters in length. The breakwater will be enlarged and a new bay will be created.
The second phase will include the construction of residential and commercial buildings that will house apartments, stores, entertainment facilities, a parking lot, a five-star hotel, and a ship repair dock. A significant expansion is also envisioned for the port - the transportation hub should be able to accommodate cruise ships. In the third phase, the consortium plans to build a high-rise with an observation deck, as well as private villas with swimming pools and berths. Another hotel is also planned for the northern part of the marina. The fourth and final phase will see the completion of the remaining private villas and additional commercial space for retail stores.
According to the Ministry of Transport, once the project is delivered, it will be able to bring up to 120 million euros a year to the Cypriot state treasury. In addition, more than 4 thousand people can count on employment.