Don’t Miss Your Chance to Invest in the Larnaca New Marina

Larnaca is a popular destination for tourists from all over Europe. Now the city has an opportunity to modernize.

The Larnaca New Marina and Port redevelopment project will be one of the most prominent investments in this city. It will help revitalize Larnaca and promote tourism. The project will also attract more investors into the city.

With this article, you will be able to learn about the project and its updates.

Details about the investment project

Larnaca is a beautiful town with many historical ruins. Now it’s getting even better, as they’re building an amazing new marina! The investment project will cost around €1.2 billion.

This project will transform the city into an upmarket tourist destination. The vision of this project is to create a world-class, luxurious experience. It will also be environmentally friendly and sustainable.

Iconic buildings are planned to be built within this project. They will boost the overall image of Larnaca. The construction of a new marina and upgraded port environs will increase the total area to 510,000 square meters. 

The marina will offer cutting-edge technical infrastructure and a major passenger terminal that has all modern amenities. Construction of a brand-new cruise ship terminal is also set to begin this year. 

Larnaca’s new marina will also include a yacht club, and a retail park, as well as several hotels.

The new Larnaca Marina and Port will be one of the most prominent investments in the city. They will help revitalize it while promoting tourism at the same time.

A prime touristic location

Larnaca New Marina will become one of the prime tourist locations in all Europe. The construction of this project will bring much needed economic benefits. It will also create many new opportunities for the people living in Larnaca and Cyprus in general.

The President of Cyprus clearly stated that the goal of this project is to transform the port into a modern European city.

The construction of a university building, and several research centers is planned. In addition to the educational institutions, they will offer a marine research program and energy innovation courses. There will be a revolutionary, cutting-edge luxury residential lighthouse. It will have 360-degree views from all units. 

The last U-shaped residential structure will be built on the north side. It will be together with a 5-star business hotel and commercial center. Two more luxury buildings are planned for construction next door as well.

The project will have its own private island. The first phase of this project will consist primarily of office buildings, parking spaces and studios. The western half is intended for students or people visiting Larnaca regularly or on business trips.

Upgrades of the current Larnaca’s marina

The expansion of Larnaca’s marina will be completed within the next five years. These are the new upgrades:

1. The construction of a new road connecting Athinon Street to Famagusta Street. It will make it easier for people living in the area.

2. This project will expand the road network by adding a new section that connects two existing roads. The layout upgrade and landscaping generate more efficient use of the space available.

3. The current Marina will be expanded and restored to accommodate big yachts that measure up to 150 meters.

4. New boat repair services will be offered.

5. The project includes a new Marina Yacht Club with offices, cafes, and event venues. It’s also expected to include schools for sailing and diving.

Overview of the project timeline

Larnaca’s current marina and port will be redeveloped with the help of a Cypriot company, Kition Ocean Holding. The 3-year tender procurement period ended in March 2020.

The two companies, Alexandrou Corporate Services Ltd and Eldeman Holding BV, have been awarded the project. Contracts worth €1.2 billion were signed in December 2020. Work is scheduled to begin following the receipt of necessary licenses. It will happen between 2022-2023.

Much is planned for the first 5 years. Construction of a new road will allow access for future development. A Yacht Club of 4,600m2 space will be built with offices and restaurants. It will also include event space for conferences or social gatherings.

The second phase of the project will attract tourists and provide residential options. There will be 10,000 square meters of educational facilities. The most cutting-edge education, research, and innovation will come to life at this new university.

In phase three and four, 45 luxury villas will be built. The construction project will include office buildings, parking lots and student apartments.

It is expected that the development of this project will take 10 to 15 years.

Larnaca New Marina: What to expect in the next few years

Larnaca New Marina will create a revenue of €120 million per year. It will result in creating 4,000 new jobs. The expected lifetime revenue of the project is a whopping €19.6 billion.

The Larnaca New Marina is set to become one of the most luxurious and elite areas in all Cyprus. The real estate market in this area will be booming within the next 5-10 years.

Sunshadow Investments was able to take full advantage of this opportunity. They have strategically chosen this location to build real estate properties.

Conclusion: Larnaca New Marina is a huge investment opportunity

Larnaca New Marina has become one of Cypriots most considerable investment opportunities. It is a prime example of development occurring in an environmentally friendly way. This project is a win for investors. Right now, this is your chance to take advantage of this opportunity!