The marina reports that he saw that the €350 million luxury development is on target for its completion in 2014 with work in progress on residences and its commercial area. The latter comprises 54 restaurants and shops, a cultural centre, fitness and spa centre, marine training school, yacht club and parking for 750 vehicles. Commercial buildings are on course for delivery by the end of the year and fully operational in March 2014.
Limassol also reports on initial success of the Spring opening, which has prompted 50 berths to be occupied out of the total 650 berths for yachts up to 115m at any one time. There has also been more investment into its luxury residences and apartments, with an extra €26 million of reservations for the luxury residences added to the €90 million worth of contracts already secured. Residences consist of the Peninsula Villas, completed in 2014, and 94 luxury apartments at the ‘Nereids Residences’, which launched in January this year and 50 per cent of which are sold.
The success story so far is seen as a major boost for Cyprus, which was lumbered with a €23 deficit bill to the EU earlier in the year and where unemployment is rapidly rising.
“The completion and operation of yet another phase of this ground-breaking project, is sending out a positive message for Cyprus. We are working hard to face the current challenges and are proving that we have the capabilities and strength to deliver this outstanding scheme as planned," commented Limassol Marina's Chairman of the Board, Marios E. Lanitis.
Mr Lakkotrypis was joined by his Steering Committee for Marinas. They were greeted by Limassol Marina’s chairman and members of the board of directors, who briefed them on the delivery of the apartments, the arrival of the first yachts and the completion of the Harbour Master offices.