Paralimni is set to welcome the island’s fifth marina next summer at the northern tip of the popular Protaras holiday resort, with berthing facilities expected to be ready by the end of this year.
The €100 mln project, owned and operated by PMV Maritime Holdings, is the second marina in the Famagusta district and the fifth in Cyprus after Limassol, Saint Raphael, Larnaca and Ayia Napa.
It will have the capacity to host up to 300 yachts, welcoming 150 in the initial phase, with two breakwaters already completed.
Paralimni Marina, located between the Sirena Bay and the Golden Coast Hotel, covering an area of 29,000 sqm, will house a number of small villas and about 120 luxury apartments in six high-rise buildings, as well as shops, restaurants and cafes.
It also boasts 600 parking spaces for residents and visitors.
As the marina will be an official point of entry of the Republic, buildings hosting the relative services are also to be added to the project, such as customs and other government facilities currently located at the nearby fishing shelter.
One of the project’s contractors, Nicolaides & Kountouris Metal Co., posted photographs on social media showing the advanced stage of construction works.
PMV Maritime Holdings CEO Anthoulis Kountouris recently said interest was growing in the apartments, villas, and commercial concessions.
Earlier this year, PMV Maritime Holdings agreed through its subsidiary, Yachts & Co., with the Ferretti Group to become exclusive dealers for the luxury yacht makers Ferretti, Riva, Pershing and Itama.
Ferretti will base its head offices at Paralimni Marina and have a presence in all seaside towns. PMV and Ferretti exhibited at the Limassol Boat Show in May.