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Paphos - Coral Bay New Marina

NEW MARINA FOR PAPHOS - IS ABOUT TO HAPPEN.

Apparently the contract to build the new Paphos 1000 yacht marina as been awarded, and it is causing some speculation.

In fact, owners of land surrounding the site for the new marina have seen its value triple since the decision to build the new marina was taken. The Euro 70 million plus contract has been awarded to a consortium headed by the Leptos Group and includes Cybarco, JNP Avax, Francoudi and Stephana, Athena and KAT - and the winning group will have to pay the government an annual rent of Euro 4 million for the next 19 years.

The announcement of the award was made by government Commerce Minister Antonis Patsalides for the project in Potima, Paphos. Competition for the project was said to be "stiff" with four consortiums concerned and work will start immediately and must be completed in three years.

The marina will have moorings for 1000 boats, slipways and a boatyard. There will also be further leisure facilities, including restaurants, bars and parking. Areas like Kissonerga,Chlorakas,Peyia and even Tala will see a rise in prices as a result and of course Coral Bay! - Good time to consider looking.

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