The construction of the marina and port in Larnaca, Cyprus, which has a budget of €1.2 billion, is now underway. The project is divided into two phases, the first of which lasts for five years and includes the construction of a new road as well as all other necessary infrastructure.
The delays and a lack of investors have prevented plans for the Larnaca marina’s expansion and privatization for years.
The Israeli-Cypriot consortium that won the bidding in 2020, Kition Ocean Holdings Ltd., plans to build 600 berths for yachts up to 115 meters in length at the port. As one of Europe’s largest high-value real estate investment businesses, its involvement is crucial to the project’s financial requirements.
The entire development will be spread out across four phases over a period of 12 years, and it is predicted that the local economy will profit by about €120 million annually.
Minor repairs will be made to the current marina in the near future, and in the summer, construction on the boat berths and yacht club will start.
A boardwalk at the marina will be built during the project’s first phase, which will take about five years to complete.
Additionally, the first phase will include the construction of a road connection to Larnaca’s well-known Finikoudes neighborhood.
Construction of buildings, including residences, retail stores, entertainment venues, and parking facilities, will take place in the second phase.
A five-star hotel with a view of the Finikoudes area and a facility for yacht maintenance and repair are also in the works.
The partnership intends to construct a 360-degree viewing facility for guests as well as private villas with swimming pools and mooring space during the third phase. A second hotel is also expected to be built on the marina’s northern side.
Additional private villas and larger commercial spaces for retail stores will be constructed in the fourth and final phase.
Location for Recreational Activities
The construction of an ultra-modern passenger terminal during the first phase is especially crucial since it will serve huge cruise ships, which may now include Larnaca as a distinctive tourist destination on their cruises.
The project will be finished in three phases and will include opulent villas, commanding homes with 360-degree views, office buildings, a commercial district with restaurants, and a traditional market where regional manufacturers will be able to sell their goods in a welcoming setting.
The educational component of this project, which will consist of about 20,000 square meters of university lecture and research theaters, will be built in the second phase. Here, a medical school will coexist with a medical center, a hotel and hospitality college, and, finally, a Blue Marine, Environmental, and Energy University.
The project intend to expand and enhance current storage facilities in the port area and build a safe space for high standard/quality yacht maintenance.
The project will build 45 Luxury Villas on the new breakwater with their own private berths during the third phase of this project, which is anticipated to happen before year 10.
And, it will construct a cutting-edge, opulent residential lighthouse on the same breakwater that will provide 360-degree vistas from every residence.
The last U-shaped residential building will be built north of the Marina, together with a 5-star business hotel, a shopping mall, and two more opulent homes that will be serviced and managed by the hotel.
Without the cherry on top, which in our case will be the exclusive Private Island in Cyprus, such a project cannot be considered complete.
One of the primary factors in our company’s decision to move forward with the development of this project is that we take the city and the surrounding area into consideration. Historic, lovely, and full of growth possibilities is Larnaca.
Cyprus Government is confident that the project’s creative approach to the numerous services it will provide to Larnaca inhabitants as well as visitors from Cyprus and beyond will improve the city’s reputation.
Furthermore, we think that this project will help improve the island’s tourism industry.
Our intention is to draw attention to our island’s distinctiveness and cultural history.
An important step in this direction will be the inclusion of a traditional market and other venues for social and cultural activities in the project.
We are confident that the operation of the new passenger terminal at the port and the hosting of sizable cruise ships will draw visitors from all over the world and considerably aid in the modernization of our tourist industry.
Making Cyprus a sailing destination is something that is being worked on.
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