Ayia Napa Marina: The construction continues…
30 October 2017
Ayia Napa Marina continues its first phase of construction following the signed agreement between Greece’s Terna (GEK Terna Group) and Makronisos Marina Ltd, part of the Caramondani Group.
The contract was signed by Terna chairmen, Dimitiris Antonacos, Gerasimos Caramondanis and Stavros Caramondanis in Nicosia, Cyprus. TERNA, founded in 1972, is a construction company of GEK Terna Group and have been proactively involved in the execution of a wide variety of high-budget, public and private projects. This includes the implementation of creating railway and highway networks, resorts, museums, hospitals and more.
The inital stage of construction focuses on creating a robust infrastructure for the marina. Watch the video below for a true representation of construction at Ayia Napa Marina.
Latest Construction Update: September 2017
Makronisos Marina Ltd state that the construction of the marina will include a capacity for 600 vessels, spread across an area of 300,000 square-meters. At the end of September 2017, the progress of reclamation was at 85%, dredging works was at 79% and construction of the south breakwater was at 36% completion.
Once the first phase is completed, both organisations have agreed that the second phase of construction will heavily focus on the residential buildings, most recognisably the two contemporary towers and luxury villas. Construction in the marina already created 1000 new jobs made up of 800 contractors and subcontractors and 200 operations personnel.
Our Cypriot Expert, Josh Hawker, gave his thoughts on the project’s progress, “the construction for the first phase is going well and is meeting all of its timeframes. The work is currently generating such a massive surge of interest for the already-popular marina, boosting Cyprus’ local economy and their tourism in the long-run”.
The first phase of Ayia Napa Marina is set for completion in 2021.
About Ayia Napa Marina
Ayia Napa Marina is an exclusive integrated development offering luxury apartments and villas, world-class yachting facilities, waterfront fine-dining options, leisure amenities, retail boutiques and recreational nightlife experiences.
Spacious 1-4-bedroom apartments are situated in two residential towers; the towers will have a total of 190 apartments between them spread across 15 floors. However, due to the exceedingly high interest for this development, 1-bedroom apartments for the East Tower have already completely sold out with prices for the remaining apartments from €795,000. All apartments come with an underground parking space and a guest surface parking space.
There are also 29 outstanding 3-5-bedroom villas: Beach, Island or Peninsula. All villas have been designed with a modern, open-plan concept and primary areas oriented towards the sea. Each of the luxury villas comes with a private plunge pool with an infinity edge, ideal for enjoying the temperate Mediterranean weather and facility management services including 24-hour security.
ROI for investors is rooted in excellent rental returns and very strong capital appreciation potential with multiple price increases planned throughout the phases. Site visits to the marina can be easily booked and daily flights to Cyprus are available from the United Arab Emirates, Russia, China, Dubai, Abu Dhabi, United Kingdom and other European countries.
Ayia Napa Marina is truly an idyllic yachting, social and residential destination, offering everything one needs to relax and enjoy the exciting lifestyle of seafront living.
View all of our properties for sale in Ayia Napa Marina or download the Ayia Napa Marina brochure to find out more information about this development.