Local
articles | 25 April 2018

‘Steady progress’ on Ayia Napa marina, says developer

More than 55% of the residential properties in the Eastern Tower of the Ayia Napa marina project, have already been sold, developers of the project said recently in a progress report on the €220 million project.

The project, in which the Egyptian investor Naguib Sawiris’ Gemini Real Estate Ltd has an 80% stake and the Cyprus-based Caramondanis Group a 20% stake, is scheduled to be to be completely finished by 2021. The marina itself will be operating by the summer of 2019, the developers said in an announcement after the onsite presentation.

The second phase includes the construction of 190 luxury one-to-four-bedroom apartments in two twisting-shaped towers of 25 and 26 floors. There will also be 29 luxury villas, shops, restaurants and other amenities. The Eastern Tower is expected to be finished in 2020 and the West Tower in 2021.

More than 55% of the properties in the Eastern Tower have been sold.

“Work is progressing steadily,” the announcement said and was following the construction timetable. The first stage, which began in September 2016 was concerned with the construction of the port and infrastructure projects, the main arm of which has been completed.

A new sales office is also ready to open, the developers said, where visitors and interested investors can access plans, photos and videos. They will also be able to tour the site with virtual reality “in order to understand in the best possible way the experience that Ayia Napa marina will offer to future occupants and visitors”.

Source: Cyprus Mail

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