The ambitious new Paralimni Marina project, which is set to become a centre of attraction for local and international visitors, is in the final stages of completion. The major infrastructure project is scheduled for completion in the summer of 2025.
This was announced recently by Antoulis Kountouris, head of PMV Maritime Holdings Ltd, which is overseeing the project.
The construction works are progressing at a fast pace without any delays. Particular attention is now being paid to the completion of the marina's administrative building, as well as the building that will house government services, the police and customs. Paralimni Marina is expected to make a significant contribution to the attractiveness of nautical tourism in Cyprus.
It should be noted that the new Paralimni Marina is the only marina project on the island that is 100% financed by a Cypriot investor, so there is no doubt about its realisation. The construction cost of the facility is estimated at €100 million.
The head of PMV Maritime Holdings Ltd also announced that the first phase of construction of the residential buildings (40 apartments) has been completed. The residential complex is expected to be commissioned in May 2025. He stressed that all the apartments available at this stage have already been sold. Interestingly, % of the buyers were Cypriots. As for the second phase, which will see the construction of 37 luxury villas, work has already begun and is expected to be completed by the end of 2026. However, the homes in the second phase have already been sold. Kountouris said that a 50-bed hotel complex will be built as part of the second phase of the project, with the same timetable as the villas.
Remember that the marina, with a total area of 29 thousand m2, is being built in the Pernera area, in the bay of Luma, between the green zone and the existing fishing pier since 1980.
When completed, the new marina will be able to accommodate 300 yachts. There will be shops, restaurants, cafes and a boutique hotel. The centrepiece of the marina will be an elite residential complex with unique villas and 119 apartments in six high-rise buildings. The tallest building will be 10 storeys. For the convenience of residents and visitors to the complex, there will be a walkway to the beaches of Protaras and a car park for a record 600 cars.
The companies involved are PMV Maritime Holdings Ltd, J&P, Marina Projects Ltd, Nicolaidis&Kountouris Metal Company Ltd. The project architect is Harper Downie Creative Architecture (UK) in association with Kythreotis Architects. The landscaping will be carried out by Camlins.
Paralimni Marina is the third in a network of marinas completed, under construction or planned across the island. The Limassol marina has been operating at full capacity since 2014, while the Ayia Napa marina will open in 2022. The Paralimni marina will be the largest development project in the region when it opens in 2025.