Within the next two weeks or at the latest by the end of this month, the contracts for the long-awaited Paralimni Marina are expected to be signed between the Ministry of Energy, Trade, Industry and Tourism and the company "PMV Maritime Holdings Ltd".
A project, which is expected with particular interest by the Municipality of Paralimni, as it will contribute to the upgrading of the tourist infrastructure of the province of Famagusta and the promotion of maritime tourism in Cyprus in general.
Although at a slow pace, mainly due to the bureaucracy, the procedures are progressing, while the signing of the contracts will be followed by the process of issuing the necessary planning permits. If these permits are obtained in time, it is possible that the first phase of the project will be completed in the summer of 2020.
It is reminded that the Paralimni marina will be built in the area of the fishing shelter of Agios Nikolaos, in Paralimni, in a state land and sea area and as it became known, it will have a capacity of about 300 boats. Under the agreement, PMV Maritime Holdings Ltd will operate the marina for 125 years.
Project € 100 million
Speaking to InBusinessNews, the Director of PMV Maritime Holdings Ltd, Anthoulis Kountouris, stated that the cost of the project is estimated at around 100 million euros, funds which will come from borrowing, sales of developments within the marina as well as the company's own resources. According to Mr. Kountouris, the financing of the marina is already complete.
It is worth noting that in addition to the owner company PMV Maritime Holdings Ltd, partners in the project are J&P (Joannou & Paraskevaides), Marina Projects Ltd, which manages state marinas in Britain as well as Nicolaides & Kountouris Metal Company Ltd. The architect of the project is the British house Harper Downie.
195 apartments and villas
The project will include administration buildings, residential and commercial developments. According to the plan, 195 residential units will be constructed - most of them luxury apartments - and 27 spaces for commercial use (restaurants, cafes, bars).
More specifically, the plans include 16.800 buildable meters,
of which 14.250 meters will be residential and the remaining 2500 commercial.
It is worth noting that the Paralimni marina will be considered an official point of entry into the Republic, hence it will have facilities for the port police, customs, medical services, etc.
Project in three phases
According to the plans, the project will be constructed in three phases, with the first to be completed within 18 months from the start of construction work. This first part of the marina will include berths for boats, the administration buildings and a part of the residential and commercial developments.
Interest from entrepreneurs
Mr. Kountouris stated that indicative of the interest of entrepreneurs for the project is the fact that agreements have already been reached with 10 international and Cypriot companies of Food and Beverage for the commercial spaces of the first phase. There is also interest in buying housing units.