articles | 09 July 2020

Ayia Napa Marina project eyes 2023 completion

Construction work to complete Ayia Napa Marina has resumed apace after COVID-19 lockdown while final completion is rescheduled for 2023, the project’s CEO Stavros Caramondanis said on Wednesday.

With the necessary administration buildings for its operation already delivered the mixed-development project has entered its second phase which will see the erection of two 100 metre towers housing 220 apartments.

Caramondanis told media representatives that the recent lockdown in Cyprus undoubtedly took its toll on the ongoing project.

“Construction was also slowed by restrictive measures imposed in other countries, such as Israel, Lebanon and Egypt with whom we share several business operations regarding the marina.

However, I can now confirm we are back at full speed with the construction work and that we received a lot of interest from boat owners in Cyprus who want to move their boats to our marina,” said Caramondanis.

With the berthing facilities of the marina now fully operational, vessels and yachts can dock in wet and dry storage.

The commercial area is still under construction and will only open to the public towards the beginning of 2021.

“This part of the project covers more than 4000 square metres with provision for restaurants and cafes, retail shops, and parking capacity for over 550 vehicles.”

Caramondanis noted that as the project managers had expected “there is huge interest from retailers and from food and beverage companies in our commercial area due to its superb location and modern facilities”.

He said the marina’s housing development has also attracted potential buyers, mainly from the Middle East and from Russia, expressing their intention to buy after the completion of the entire project.

Five of the 35 luxury villas have already found their new owners.

Ayia Napa Marina offers 220 luxury apartments in two towers, 35 luxury villas, a marina with significant mooring capacity and quality facilities for 600 yachts, a shipyard, and a series of select shops and restaurants offering services and amenities for those living in, and visiting, the marina.

Billionaire Egyptian investor Naguib Sawiris in 2017 launched the €300 million project in partnership with Cypriot entrepreneur Caramondanis.

The project, developed by MM Makronisos Marina and contracted to Terna AE of Greece, includes commercial and residential property of 30,000 sqm, employing 800 people during the construction phase, hiring a further 200 people for its operation.


Number of Towers:

  • Two towers, The West and the East, over 100m high

Number of Apartments:

  • 220 spacious and luxury apartments with panoramic views of the Mediterranean Sea.
    • East Tower: 95 apartments
    • West Tower: 125 apartments

Number of Villas:

  • 35 in total
    • 11 luxury seafront villas, with direct access to the beach.
    • 12 peninsula marina villas, with private berths.
    • 12 island villas on the manmade island of the marina, each one with a private berth.

Number of berths: 

Berth facilities for 600 yachts (in wet and dry storage), where yachts up to 85 meters in length can be accommodated.

  • 360 yachts in state-of-the-art wet slips for up to 85 meters in length
  • 160 spaces on the Dry Stack up to 10 meters length
  • 80 additional spaces on the Dry dock

Commercial Village:                  

  • 4000+ m.
  • 550+ parking spaces
  • Restaurants
  • Coffee shops
  • Retail stores
  • Chandlery
  • Crew lounge
  • Spa & Fitness facilities
  • Yacht Club
  • Beach Clubs
  • 24h reception and concierge services
  • 24h security

Construction started: 30 September 2016

Completion of the project: 2023

Construction cost:  €300 million

Source: Financial Mirror

Cooperation Partners
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