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Cyprus Property

Caramondani, Terna sign Napa marina construction contract

Makronisos Marina Ltd, a unit of the Caramondani Group, said that it signed an agreement with Greece’s Terna A.E. for the construction of a marina in Agia Napa with a capacity of 600 vessels over a 30,000 square-metre area worth €220m.

Construction work, expected to take five years, is scheduled to begin on September 30, the company said in an emailed statement on Wednesday.

agia napa marina 1The contract with Terna, signed on Tuesday in Nicosia, “concerns the first stage of construction work, which include harbour and infrastructure works, the construction of which will take about three years,” Makronisos Marina said. Terna chairman Dimitrios Antonacos and Gerasimos Caramondanis and Stavros Caramondanis signed the agreement.

A separate tender for the second stage of the construction works which will include residential and commercial developments, such as “two towers and villas,” will follow, the company said. “Construction works are estimated to create 800 jobs by contractors and subcontractors and further 200 persons will be employed to operate the project”.

“The ambitious project is expected to offer new dynamism to the local economy and Cyprus’s tourism product in general,” Makronisos Marina said.

Agia Napa’s mayor Yiannis Karousos was quoted as saying that “the Agia Napa marina is the basis of materialising our vision and make Agia Napathe best and most cosmopolitan tourist resort in the Mediterranean”.

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