Resicom – Holiday Investment – 04-21 – LB

Ayia Napa Marina Second Phase Agreement Signed

Agreement for the second phase of the long awaited Ayia Napa marina in Cyprus has been signed.

Construction work on the port and infrastructure of the Ayia Napa marina started in September 2016 and continues on schedule.

The latest second phase agreement concerns the residential and commercial developments of the project.

Ideally located between the beaches of Ayia Thekla and Makronisos, the Ayia Napa Marina will offer 190 spacious luxury apartments in two impressive towers, 29 luxury villas, a marina with significant mooring capacity and world class facilities for 600 yachts, a shipyard, and a series of select shops and restaurants offering top class services and amenities for those living in, and visiting, the marina.

Due to also include an artificial island housing some of the villas, the Ayia Napa Marina is expected to be an international magnet for the most demanding buyers seeking luxury living and relaxation. The Ayia Napa Marina aspires, upon completion, to upgrade the character of the wider region while acting as a driving force for further developments.

The major contractor on the project, MM Makronisos Marina Ltd announced the signing of the agreement for the second phase of construction works with TERNA S.A. and TERNA Overseas Ltd, experts in the execution of public and private large-scale projects requiring complex technical expertise.

The contract was signed on February 2nd, 2018 by Stavros Caramondanis, CEO of MM Makronisos Marina Ltd, as well as Thanasis Papadopoulos, Technical Director of TERNA Overseas Ltd, and Manos Vrailas, Executive Member of the Board of Directors of TERNA S.A. The agreement concerns the residential and commercial developments of the project.

With the Ayia Napa Marina expected to have a major impact on the Ayia Napa resort, overseas property investors may wish to investigate wider opportunities in the surrounding area that are likely to benefit from such a major infrastructure investment.

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