Marinas

                 Cyprus Focuses on Maritime Tourism

The Ministry of Commerce, Industry and Tourism has expressed optimism that the planned new Marinas in different parts of the island will help enhance Maritime Tourism, which will serve strategic goals for enriching Cyprus' tourist product and improving seasonality.

A total of six marinas are planned.
Works on the large-scale new Paphos Marina project are expected to be completed within three years. The Minister of Commerce, Antonis Patsalides, has already announced the winning consortium for the project, which will be located in the Potima area in Kissonerga.

The Marina will have mooring for 1,000 boats, slipways and a boatyard. There will be further leisure facilities, including, a restaurant, bar and parking. The cost of the project is expected to come in at over €70 million. Owners of surrounding land have seen it more than triple in value since the decision to build a new marina was taken.
Developers are already planning new projects in the area which will be excellent investment opportunities as the prices will rise significantly once the Marina is completed.

The new Marina at Coral Bay is expected to significantly enhance what is already a wonderful area, bringing in an influx of wealthy visitors to the island. As a result, the demand for luxury villas and properties is expected to show a significant increase and property prices are likely to see strong growth over the next three years as the Paphos Marina becomes a reality.

Other plans include: The Limassol Marina, which will be built to the west of the old port and will also have a capacity of 1,000 vessels. Contracts for the Limassol Marina were signed in February. The Ayios Raphael Marina in Limassol will continue to operate with a capacity of 250 vessels.

In Larnaca, the existing Marina will be extended so that its current capacity of 450 vessels will expand to 1,000 vessels.

The Ayia Napa Marina will be constructed at “Loumata” area and will have a capacity of 600 vessels, while the Paralimni Marina will be built near the fishing shelter and will have a capacity of 250 vessels.

The Marinas of Cyprus are expected to have a comparative advantage over those of Greece, Turkey and Israel, due to the island’s geographical position.