Signing of Larnaca Port and Marina concession postponed

Subscribe to our newsletter and get the latest news and business opportunities in your inbox

The signing of Larnaca port and marina PPP project has been postponed for the fourth time. The project involves the development and management of Larnaca port in Cyprus and marina under a long-term lease.

The project works include the expansion of the port, new passenger terminal and expansion marina capacity to 650 boats. The first phase will include the Yacht Club, 5,000 sq foot space with offices, restaurants, sailing and diving schools and yacht shops. The second phase will include tourism and residential development, educational facilities, medical school, a hotel, a tourist college and environmental and energy university. The third phase will include the construction of 45 luxury villas. In the fourth phase office buildings, parking lots and small apartments for students will be built.

The project has gone through the tendering phase and Kition Ocean Holdings Consortium was selected to proceed with the project. The final agreement between the government and the consortium was reached on February 12, 2020 and the consortium presented the project at the ceremony on February 26, 2020.

The construction of the project is planned to be completed in 10 years while the concession term is 40 yers.

The Cypriot-Israeli consortium is composed of investors Eldeman Holding BV and Alexandrou Corporate Services Ltd.

Share this update