Monday, 5 November 2018

How the Limassol Marina became a highly sought-after destination in the Eastern Mediterranean, for more than 34 different nationalities

In the 8 years since construction of the Limassol Marina began, this special project for both the city and greater Cyprus has proven to be a very popular destination for investment. Today, real estate development purchasers span 34 different nationalities, while the overall value of the project is reflected both by the investors’ amplified interest, and by the significant increase in resale property prices. 

The project has brought a number of benefits to the city, thanks to its upgrade of a once abandoned area. Its success, however, is also reflected in the fact that as of today, out of a total of 285 residences, only 12 villas (with private berths) and 19 sea-view apartments (from the final section of the Marina development, the impressive Castle Residences complex which is due for completion in 2020) are available for sale. In fact, according to Limassol Marina Commercial Manager, Nikiforos Papakas, investors who have already bought real estate are currently reselling their properties at prices up to twice as high as a result of the high demand.  

At the same time, the Limassol Marina is also a particularly popular destination for some of the largest vessels in the area. As of 2013, with the arrival of its first yacht, the Marina continues to offer its services to hundreds of boats each year, and it is also the first marina in Cyprus that offers the option of docking superyachts of a length of up to 110 meters.

Additionally, the Limassol Marina is a major shopping hub, located just a few steps from the historical center of the city and attracting thousands of visitors, both locals and foreigners, who choose to visit the Marina’s seaside environment for walks, fun, and relaxation accompanied by a drink or a bite to eat at the dozens of cafés and restaurants. 

LIMASSOL CHAMBER OF COMMERCE AND INDUSTRY

170 Franklin Roosevelt, 3045 Lemesos | Cyprus

Tel. : +35725855000 | Fax : +35725661655 | Email : info@limassolchamber.eu

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