Investors pay € 25 mln deposit for Ayia Napa marina
M.M. Makronisos Marina Ltd., developer and operator of the EUR 220 mln Ayia Napa marina project, has submitted a EUR 25 mln deposit to the Cyprus government and work is expected to get underway with the relevant permits already issued.
The 600-berth project, that includes Egyptian investor Naguib Sawiris as one of its strategic partners, is expected to be completed by 2018 and will be able to accommodate mega yachts of up to 60m (180ft).
Ayia Napa Mayor Yianis Karousos said he was especially happy as this project will generate jobs at a time when Cyprus is suffering from a 16% unemployment rate, while designating the marina as an official port of entry will mean a major boost to the area’s tourism profile.
The Municipality has recently approved the town planning permits that will allow for the sale of residential and commercial plots with the Caramondani Group as the main partner of the project.
The permits include holiday homes, apartments, official buildings and infrastructure services, such as roads, facilities, access and pavements.