On Friday, August 20, Larnaca Mayor Andreas Vyras said that the implementation of the united marina project is an important stage in the future development of the city.
He noted that the Kition Ocean Holdings consortium should take control over the port until April 2022.
By this time, the investor will be given all the necessary permits to start work on the modernization of the port buildings and the creation of the necessary infrastructure.
According to preliminary estimates, the benefits that the Cypriot economy will receive is estimated at 120 million euros per year. This is exactly how much the island's treasury will earn. In addition, more than 4 thousand people will have job.
As you may know, the plans for the privatization and reconstruction of the marina were disrupted by many years of delays and the unwillingness of investors to participate in this endeavor.
In 2010, the government struck a deal with the Zenon consortium for a €700 million project to transform an existing port and marina. The consortium was unable to raise the necessary funds, although the government extended the deadline until 2015, when the deal was eventually canceled. The reason was then called the recession and the banking crisis of 2013.
Later, a new tender was announced. The winner of the competition was the Cypriot-Israeli consortium Kition Ocean Holdings. According to the agreement, the government leased the port and Marina of Larnaca for 40 years, and real estate on their territory for 125 years.
The project cost is 1 billion euros.
The integrated development plan for the marina will be implemented in stages. First, they will modernize the port infrastructure, reconstruct - and in fact - build a new Marina, repair roads, create a modern residential area with restaurants, cafes and shops. The consortium will also be involved in lengthening berths for servicing large vessels in the port, building a passenger terminal and warehouses for storing cargo. Marina Larnaca will have a yacht club, hotels, a private island and residential complexes. The project provides for the creation of parks and open areas for cultural events.
The expansion of the port will attract new companies involved in cruise transportation, trade and energy.
Detailed information about all Larnaca projects can be obtained from the specialists of the DOM real estate agency by phone +357 24621001, or in person at the address: Gregoriou Afxentiou 7, Larnaca, 6023, Cyprus.